Future looks dismal for young workers
| By Erin Rosa - Oct 7th, 2009 at 3:51 pm EDT |
| Also listed in: Campus Progress Updates |
Economic hardships are nothing new in the recession, but the sluggish economy is hurting young people the most.
That’s according to Demos, a non-partisan think-tank that released a sobering analysis in Washington, D.C., today titled “What does the Recession Mean for Young People?”
Unemployment rates are at a record high for 16-24-year-olds, lingering at 17.3 percent, more than any other age group in the United States.
College costs are soaring (the College Board estimates the average college cost has risen by 47% between 2000 and 2007) and there is a 25-year low in state funding for higher education, according to Demos. But that’s assuming young people make it to college while tuition costs continue to rise.
“A degree is pretty much now the minimal requirement to get into the middle class,” said Tamara Draut, vice president of Policy and Programs for Demos, who noted that in a recession “colleges tend to make up costs though tuition increases.”
Even worse, those who enter the job market during a recession usually continue to earn lower wages than individuals who don’t, and those jobs usually come without benefits.
Only with Congressional reform to student loans, health care, and the job market can young people hope to derail such a fate, Draut said.
That’s according to Demos, a non-partisan think-tank that released a sobering analysis in Washington, D.C., today titled “What does the Recession Mean for Young People?”
Unemployment rates are at a record high for 16-24-year-olds, lingering at 17.3 percent, more than any other age group in the United States.
College costs are soaring (the College Board estimates the average college cost has risen by 47% between 2000 and 2007) and there is a 25-year low in state funding for higher education, according to Demos. But that’s assuming young people make it to college while tuition costs continue to rise.“A degree is pretty much now the minimal requirement to get into the middle class,” said Tamara Draut, vice president of Policy and Programs for Demos, who noted that in a recession “colleges tend to make up costs though tuition increases.”
Even worse, those who enter the job market during a recession usually continue to earn lower wages than individuals who don’t, and those jobs usually come without benefits.
Only with Congressional reform to student loans, health care, and the job market can young people hope to derail such a fate, Draut said.
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