The 2014 '30 Under 30'

Congrats to this year's 30 -- check out the full list here!

Unemployment among Millennials continuing to increase, according to new report

While the threat of falling off the fiscal cliff didn’t deter the American workforce from growing by 155,000 jobs last month, the outlook continues to remain rather bleak for younger Americans still struggling to find employment.

A new report by the nonpartisan organization Generation Opportunity found that the unemployment rate among Millennials – Americans aged 11-29 years – has increased to 11.5 percent, up 0.6 percent from last month. Among African-American Millennials, the rate jumps to a staggering 22.1 percent.

For comparison purposes, the national unemployment rate released by the Department of Labor today is 7.8 percent. December 2012 also marked the 49th straight month that the national unemployment rate remained above seven percent.

According to Generation Opportunity, these numbers should be even worse – as high as 16.3 percent for Millennials. That is because the Department of Labor, in creating its monthly jobs report, does not include in its analysis the millions of Americans who are not currently in the workforce, essentially assuming that they have given up looking for employment as a result of the lack of jobs available to them. Generation Opportunity notes that as many as 1.7 million Americans aged 18-29 fall into this category. The U-6 rate for December 2012, which is the Department of Labor’s broadest measure of calculated unemployment, remained unchanged at 14.4 percent.

It is also important to note that all of these numbers are non-seasonally adjusted, especially with the holiday season just behind us.

“Expected seasonal hiring is likely keeping youth unemployment artificially low, and young people know all too well that a temporary job over the holidays is not a long-term solution,” stated Matthew Faraci, Senior Vice President for Communications at Generation Opportunity. “The fact is that 2012 marked yet another year in which Millennials were unable to find real opportunities in the vocations for which they trained and are qualified. This meant another year just scraping by, falling further behind on student loan payments, living at home with Mom and Dad, sending out hundreds of resumes, and filling out numerous job applications, all with little or no result. This was another year without hope for a generation eager to apply their skills and get in the game.”

Last July Generation Opportunity commissioned a poll of young Americans to determine how the currently weak economy is impacting their everyday lives. The poll found that virtually all Millennials – 89 percent – believe that the current economy has made a major impact on their day-to-day lives, with many resorting to reductions in food budgets or living situations to make ends meet. Nearly as many – 84 percent – have also scrapped or delayed major life changes they were considering as a result, including buying a house, starting a family, and repaying college loans.

 

Comments

Polititainment

Stewart challenges McCain to 'wrong-off'
  Sen. John McCain and The Daily Show’s Jon Stewart have engaged themselves in a televised media war. McCain recently appeared on Media Buzz where he was asked if he believes Stewart is fair to Republicans. Stewart used this clip in his monologue Tuesday night and replied to the question with “does the Pope sh*t […]
Long-shot for House may be on reality TV

Nick Di Iorio may have to settle for the TV screen instead of the U.S. House floor.

Snoop Dog smoked pot in the White House

Snoop Dogg may just have officially inducted himself into President Obama's "Choom Gang." The rapper confessed -- or bragged, rather -- to Jimmy Kimmel on his Internet program "Double G News Network" that he smoked a joint in the White House bathroom back in 2013.

Michael Moore fights over money

According to The Detroit News, Michael Moore's divorce from Kathleen Glynn was provoked by monetary disagreements, specifically Moore's anger that his wife was spending tons of money expanding their lavish Michigan home. This home is just one of nine that the couple owns from Michigan to New York.

Cruz comments on his 'True Blood' cameo
After an unflattering depiction on HBO’s “True Blood” over the weekend, Sen. Ted Cruz took to Facebook to respond to the bizarre “cameo” Tuesday. “Of all the places I never thought to be mentioned, HBO’s True Blood vampire show would have to be near the top of the list. Sunday night, they aired a misogynist […]

White House

Obama wants ‘idealism and optimism’ for millennials in face of Congressional ‘crisis,’ refuses to recognize he is part of the problem
Now that “hope and change” seems to be played out, President Barack Obama has come up with a new catchphrase for millennials – “idealism and optimism.” In a speech at a Democratic National Convention fundraiser in Seattle, Wash. Tuesday night, Obama asked young people not to give up their natural idealism and optimism because of […]
President Obama admits he does not watch the news

During a speech during a Democratic National Committee event in Seattle, Washington Tuesday night, President Obama confessed that he doesn't watch the news. Throughout the speech, Obama predictably complained about the incompetence of our "broken" Congress and urged his liberal audience to get enthusiastic about voting for Democrats in the midterm elections this fall.

Congress and the President actually take action, Obama says ‘it’s so much fun’
“Girls just want to have fun,” Cyndi Lauper belts in her famous song. Apparently President Barack Obama wants to join her. “Let’s do this more often. It’s so much fun,” Obama said at a bill signing on Tuesday. Obama gathered in White House with members of Congress to sign the Workforce Innovation and Opportunity Act. This […]
Josh Earnest criticizes negative story for quoting anonymous sources, forgets the White House is always quoted anonymously

When White House Press Secretary Josh Earnest took a potshot at anonymous sources during a Monday briefing, he probably should have picked a meeker reporter.

Obama to fundraise at ‘Scandal’ creator Shonda Rhimes’ home Wednesday
It’s handled. The latest Democratic National Convention fundraiser featuring President Barack Obama, that is. “Scandal” creator Shonda Rhimes will host the latest in a series of Obama-led fundraisers at her Los Angeles home Wednesday, according to The Hollywood Reporter. Obama has been hosting fundraisers all over the country in the midst of a border crisis and […]

Congress

Cruz to Reid: Leave Ritz-Carlton, go to Border
After President Obama turned him down, Sen. Ted Cruz (R-TX) invited Sen. Harry Reid (D-NV) to join him at the border.  In response to Reid’s recent claim that the border is secure, Cruz said on Fox News Sunday that Reid’s perspective is skewed because he “lives in the Ritz-Carlton in Washington D.C.” “I would invite […]
Graham: Immigration reform crucial for 2016
Immigration reform will be crucial to the 2016 presidential election, at least one Republican senator believes. Sen. Lindsey Graham appeared on NBC’s “Meet the Press’” with David Gregory Sunday morning to discuss foreign policy and the border crisis. “Senator, the crisis on the border, immigration reform. This is an international problem. But it’s also a big […]
Cruz: Obama loves to blame problems on Bush
Why won’t President Barack Obama and Congress work to end Obama’s push for amnesty at the border? Sen. Ted Cruz (R-Texas) believes the reason stems back to the Bush era. Cruz’s argument is that Obama’s Deferred Action for Childhood Arrivals program is the reason for the surge of child immigrants from Central America seeking illegal entry into […]
Rand Paul wants to see minimum wage be 'temporary'
Sen. Ran Paul has a very different take on minimum wage from the Obamas, a point of detraction he made clear Saturday at the Reboot conference for libertarians and conservatives in the tech sector. Unlike President Barack Obama, who wants to see the minimum wage raised nationwide so people can live permanently on it, Paul argues […]
AZ Rep is tweeting #ObamaFailures every 30 minutes
Rep. Trent Franks from Arizona must have woken up Wednesday with a lot on his mind. Luckily in times like that, Twitter is always there for you. Franks took to his official Twitter page to begin a list of #ObamaFailures. Every 30 minutes he tweets another failure to add to the list and will continue […]