Why are so many young people without a job and homeless?
According to a New York Times articles there are more young people out of a job and homeless. But didn't Obama say that the recession is over? Didn't Michelle say while campaigning that we were poised for growth? Isn't the unemployment rate lower? What's going on?
I Myself still think employers are still leery of hiring full time employees at this time. And the only jobs that are available are minimum wage jobs in which it is impossible to live on especially in a big city such as New York. We may be on our way out, but not quite yet.
The employment rate is not lower. The unempoyment rate is greatly misleading. If you want to understand how screwed up the data is read here.
http://landmarkwealth.hubpages.com/hub/ … ment-Rates
One of the better measures of unemployment is what is called U6 which is about 14.5% currently. And that does not tell the whole story as it excludes many people like those who opted to retire early or go on disability. The best measure of employment is the labor force participation rate. The actual number of people who are working. That rate is at it's lowest point since about 1981. The growth in jobs is barely enough to keep up with population growth at the moment.
Young people are at a disadvantage in some ways becuase they lack experience. In some fields they'll be hired first because they'll work for less. But in highly skilled areas they lack the experience. A big part of the unemployment problem is still structural. We have 100's of thousands of job openings that many americans are simply unqualified to fill. Many companies are bringing in people to the States from abroad to fill roles in areas like engineering and software design. We have too many kids graduating school with worthless degrees, and not enough in mathmatics and engineering.
The other issue is that top line revenue growth just isn't there. Companies have deleveraged and trimmed their staffs to increase margins. Right now the emphasis in many industries is focused on dealing with the growing regulatory burden, which is counterproductive to investing capital in more productive ways. Which is also bad for job growth in the long run.
As far as a recession being over, that is an economics terms at the end of the day. Technically, the economy could grow at and anemic pace of 1-1.5% for ten years and we would not be in an official recession. However, it would be a prolonged period in which it would feel like a recession for many people, if not the majority.
Regardless of age, there will be growth in the engergy sector in the next decade plus. There are too many resources being uncovered on private lands all over the country with new technology that allows us to look for it topographically.
There is a wide variety of reasons why a young person may be out of work or homeless. (lack of education/skills for a career "in demand", break down of family relations, drugs/alcohol issues, lack of ambition, unwilling to consider other options/opportunities that may be in anoher town/state or not related to their major.)
Every recovery resembles swiss cheese. For example during the Dot.com boom if you did not have a job in software or computers you probably did not make a lot more money than normal. The same could be said for the real estate boom with regard to Loan officers and sales agents.
The smartest people tend to (adapt) to changing times by keeping an ear to the ground and a eye out to spot the next big wave in the economy. The horse trader never imagined how the automobile would change his life, the post office didn't envision how email and faxes would impact their business, the beeper and pay phone business took a hit when cell phones became the norm. I can't tell you the last time I used the (yellow pages) to look up a business. GPS and Mapquest has probably hurt Atlas Road Map business. I can't imagine how tough it must be to sell advertising for a phone directory these days.
We have never had 100% employment even in the best of times. There has always been homeless people and always will be. Some homless people have mental problems and would rather be on the streets than placed into an institution.
If unemployment is 8% that means 92% of people that want to work are working. The interesting question then becomes "What am I doing or not doing that's keeping me from joining the 92%?"
Because a lot of parents don't save for their children to go to college, or some young people don't care about an education. Either they do not think it is valuable or they are not able to hold a job or not able to pay for college.
They're likely finding that there are simply dozens and dozens of people that they're competing with for a single job whereas in better times it would be just a few to a dozen at the most simply because there were many more job openings. All they said was that we were poised for growth, not that we are growing at a breakneck speed.
The overall homeless population has grown and there are many people who have graduated college or high school and find themselves unable to find even a fast food or retail job, let alone something that pays what the employee truly feels is a comfortable living wage. What should also be noted, is the fact that there are homeless people of all ages who work in these types of jobs and other legitimate positions.
The unemployment rate can be very misleading as Landmarkwealth noted. Many have given up looking for work and are simply not counted as participants. This is very misleading. Some have taken early retirement or while others have obtained disability payments.
by haj3396 8 years ago
Some young people think they came from frogs, some think that are reincarnated, in to a dog, or tree,or a bird, some young people think their life is not worth anything. But, I here to tell you, stop comparing yourself to other, you are worth more than anyone, anything or even you can imagine. Talk...
by Grace Marguerite Williams 6 years ago
Why do SO MANY young people believe that once a person gets to be either middle agedor an advanced age, HE/SHE should S-L-O-W down, stop being exuberantly fun, or in words, "act their age" ?
by SylviaSky 7 years ago
Why do so many young people this spring say they are going to Key West?
by kbschennai 9 years ago
The Last 18 months saw very few vacancies available in the engineering sector. The services sector was a big casualty .But now, the India growth story is again gaining momentum. The Government's initiatives have proved worthwhile. Ambitious Infrastructure plans are being made and implemented. Huge...
by uncorrectedvision 7 years ago
If not the most often touted, misunderstood piece of government disinformation is the unemployment rate. It does not represent those who are not employed or those who would rather be employed than unemployed. It barely and inaccurately represents the figure of jobs created in a...
by OLYHOOCH 8 years ago
I thought you all said we need jobs. Funny thing. Every month I see a figure like this and I say to my self, this JOB ISSUE, is like, THE OBAMA BC ISSUE. ( Here they are, you just cant see or find them.) We say one thing, they say another. Well, anyway here is there version.The United States...
Copyright © 2019 HubPages Inc. and respective owners. Other product and company names shown may be trademarks of their respective owners. HubPages® is a registered Service Mark of HubPages, Inc. HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.
HubPages Inc, a part of Maven Inc.
|HubPages Device ID||This is used to identify particular browsers or devices when the access the service, and is used for security reasons.|
|Login||This is necessary to sign in to the HubPages Service.|
|HubPages Traffic Pixel||This is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.|
|Remarketing Pixels||We may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.|
|Conversion Tracking Pixels||We may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.|