Only 54% Of Young Adults In America Have A Job

[UltimateHoboW/Shotgun]

A month ago, Zero Hedge readers were stunned to learn that unemployment among Europe's young adults has exploded as a result of the European financial crisis, and peaking anywhere between 46% in the case of Greece all they way to 51% for Spain. Which makes us wonder what the reaction will be to the discovery that when it comes to young adults (18-24) in the US, the employment rate is just barely above half, or 54%, which just happens to be the lowest in 64 years, and 7% worse than when Obama took office promising a whole lot of change 3 years ago.

And while technically this means 46% are unemployed, or the same percentage as in Greece, the US ratio, which comes from Pew, shows the ratio as a % of the total population: a very sensitive topic now that every month we see another 250,000 drop off mysteriously from the total labor force. However, unlike those on the trailing age end, young adults by definition are the labor force in their age group demographic, so it would be difficult to explain away this horrendous number by claiming that ever more 24 year olds are retiring. Although, yes, we agree that some may be dropping out of the labor force in order to go to college, incidentally the locus of the latest credit bubble, where they meet a fate worse even than secular unemployment: they become debt slaves of the Federal System, with non-dischargable debt at that, which even assuming they can get a job would take ages to pay back!

But wait: there's more - of all age groups, this is the one that has actually seen its wages drop the most under the Obama administration.

So not only are they unemployed, young adults are at least poor.

Net result: double the change, zero the hope.

[barryr]

But he is the job's president

[UltimateHoboW/Shotgun]

"I'm going to focus, like a laser, on jobs"- Obama

[pricejj]

It's all part of the front to make it seem like everybody is smooth sailing come November...

1. Unemployment falling due to false accounting methods...check
2. Stock Market falsely inflated from QE1, QE2, and QE3...check
3. $15T debt servicing kept artificially low by 0% Fed Funds Rate since Obama took office...check
4. Real Estate market artificially inflated by lowering FHA down payments and lowest interest rates ever...check
5. Operating in several covert wars, while telling everyone you are ending wars...check
6. Arresting anyone who speaks out against the administration...check
7. Publicly stating that anyone who is against 'free' birth control, is against women's rights...check
8. Signature legislation is unconstitutional...check
9. Supplying guns to Mexico in hopes that they are used to kill people in the U.S., in order to take the 2nd Amendment away...check
10. Sidestepping U.S. Constitution whenever it is convenient...check
11. Racking up more debt than any other president in U.S. history...check
12. Shutting down the Keystone pipeline, then publicly stating you are pro energy independence...check
13. Higher youth unemployment than Spain or Greece...check
14. Presided over the first credit downgrade in U.S. history...check
15. China abandoning the dollar due to high inflation...check

etc...



It's like a bad nightmare that never ends.

[Rohirrim]

Change in Total Private Employment (in thousands), Source: U.S. Bureau of Labor Statistics

[Rohirrim]

Mighty convenient how the Right has developed this selective amnesia over the disaster wrought on this country by Bush's two terms. Fox News never mentions it. If you listened to the Republican presidential candidates, you'd think that no such person as Bush ever existed.

Of course, what are they going to say? "We had two terms of a Republican president who completely wiped out the country with his policies, and now we want you to elect us so we can go back to all those policies."

[UltimateHoboW/Shotgun]

Originally Posted by Rohirrim

Change in Total Private Employment (in thousands), Source: U.S. Bureau of Labor Statistics

You know that 50,000 jobs on that last bar is from Mcdonald's. Mcjobs for everybody!

[baja]

Originally Posted by Rohirrim

Mighty convenient how the Right has developed this selective amnesia over the disaster wrought on this country by Bush's two terms. Fox News never mentions it. If you listened to the Republican presidential candidates, you'd think that no such person as Bush ever existed.

Of course, what are they going to say? "We had two terms of a Republican president who completely wiped out the country with his policies, and now we want you to elect us so we can go back to all those policies."

Bush/Chaney wrought such havoc on to USA that she will never recover her former grandeur, Obama on the other hand is only driving the getaway car for the Banksters.

[Rohirrim]

Originally Posted by baja

Bush/Chaney wrought such havoc on to USA that she will never recover her former grandeur, Obama on the other hand is only driving the getaway car for the Banksters.

It's like being a newbie in the joint. You know you're going to get ****ed or killed. You get to decide which one it will be.

[Rigs11]

too funny, Boner and company keep saying that they are focused on jobs, and then turn around and concentrate all their efforts on this contraceptives nonsense. No wonder obama is leading their 'candidates' by double digits. the american people aren't stupid. Good luck in 2016 dipshets.

[Pony Boy]

Originally Posted by Rohirrim

Mighty convenient how the Right has developed this selective amnesia over the disaster wrought on this country by Bush's two terms.

I'm getting tired of keeping score how much longer will this blame game last?
blame_bush.jpg

[W*GS]

Two legacies of Bush:

American equities lost a quarter of their value in the month after the collapse of Lehman Brothers in September 2008. Shares are an important component of households’ pension-fund wealth, and in that month alone five years of gains were eradicated.

The average American homeowner is living in 2001, judging by inflation-adjusted property values. Britain has suffered less dramatic drops in house prices, but has still lost seven years. The costs of this lost time are huge: British households’ property wealth, in today’s prices, is around £500 billion ($785 billion) short of its peak; American households have lost a whopping $9.2 trillion.

From Lost economic time: The Proust index.

[DenverBrit]

Originally Posted by Pony Boy

I'm getting tired of keeping score how much longer will this blame game last?
Attachment 30334

Probably until the rest of the world's economies recover from the 'Bush' years.

Until that happens, the US has no markets/growth for its exports.

Like it or not, we are all joined at the economic hip.

[pricejj]

Originally Posted by W*GS

...

The housing market is still overpriced, thanks to Clinton's subprime mandates. Thankfully if U.S. real estate market continues to follow what happened in Japan in the early 1990's, housing prices and interest rates will continue to decline.

Why would a pile of particle board and 2X4's gain value over time? Only a Democrat would judge affordability as a bad thing.

[baja]

Originally Posted by pricejj

The housing market is still overpriced, thanks to Clinton's subprime mandates. Thankfully if U.S. real estate market continues to follow what happened in Japan in the early 1990's, housing prices and interest rates will continue to decline.

Why would a pile of particle board and 2X4's gain value over time? Only a Democrat would judge affordability as a bad thing.

No doubt Clinton did his fair share of damage to the middle class but compared to Bush he was the modern days abe Linclon.