Unemployment rate among Millennials skyrockets in January

Looks like Millennials will continue to be in for a bumpy ride in 2013.

The latest jobs report from Generation Opportunity, a “nonprofit, nonpartisan organization that seeks to educate and organize young Americans on the challenges facing our nation,” found that unemployment among those aged 18-29 years old rose by more than 1.5 percent in January to 13.1 percent.

Unemployment among Millennials since 2008 is at the highest sustained level it has been at since World War II.

Earlier this morning the Bureau of Labor Statistics released its January jobs report, which found that unemployment increased nationally by one-tenth of a percent to 7.9 percent while adding 157,000 jobs to the workforce. The U-6 rate, the Department of Labor’s broadest measure of calculated unemployment, remained unchanged at 14.4 percent.

While unemployment among African-Americans aged 18-29 remained steady at a whopping 22.1 percent, Millennial Hispanics and women were the most affected by the jump. The unemployment rate among Hispanics went up nearly a full percentage point to 13 percent, and among women it went up 1.2 percent to 11.6 percent.

These numbers are non-seasonally adjusted, which means that they include the impact of holiday retail jobs from December, making the numbers “artificially low” according to Generation Opportunity spokesman David Pasch.

The fact that the declining labor participation among young adults not counted as “unemployed” grew by another 1.7 million jobs is also worrisome. Included in this group are Millennials who have given up looking for work because of the lack of available jobs in their chosen field.

“President Obama says America should be ‘investing in the generation that will build its future,’ yet four years of his government-driven economic policies have left us with record youth unemployment and an economy that is literally shrinking. My generation is suffering disproportionately,” said Terence Grado, Director of National and State Policy at Generation Opportunity.

“Instead of staying the course and doubling down on failure, we need a new strategy that encourages the private sector to grow, invest, and provide real opportunities for the millions of young people who have great skills, are ready to contribute, and have waited long enough.”

Pasch added that the current unemployment situation is “unacceptable for people our age,” and that the responsibility and blame for the high unemployment numbers rests with elected leaders in Washington, including President Obama.

He also noted that Obama’s share of the youth vote in 2012 decreased by 11 percent, signifying a shift in opinion of the president among this group of voters.

Comments

Comments

  1. Roger Mitchell says:

    Well peter pan you ain’t seen nothing yet this countries future is looking very dim unless you are a skilled tradesman these workers are getting more and more difficult to come by every yr. To many fishermen and not enough people to clean the catch or cut the bait as my old grand daddy used to say..

Polititainment

Stewart wants to move 'home' to England

Jon Stewart is having second thoughts about the whole “American independence from Britain” thing.

Colbert: Obama is stealing Bush's lines

Colbert observed Monday night that some of Obama's recent comments on ISIS and Iraq seem a little familiar.

Liberal lobbying firm makes ‘Bibi-Yoncé’

If you’ve ever thought that the complexities of the Israeli-Palestinian conflict reminded you a lot of a Beyoncé song, liberal Middle East lobbying group J Street has the internet campaign for you!

Bush's cool reaction to 'Scandal'

Judy Smith, former special assistant and deputy press secretary to President George H.W. Bush and inspiration for "Scandal" main character Olivia Pope, spoke to an art and commerce conference Friday about Bush's reaction to the storyline of the ABC series.

Actress wants more female politicians

In an interview with Politico, Davis spotlighted a recently released study that found only 10 percent of politicians in films in the world are played by female actors, which was completed in part by the Geena Davis Institute on Gender in the Media.

White House

Holder resigns with 26 percent approval rating, making him third least popular Obama cabinet member

Attorney General Eric Holder’s dismal 26 percent approval rating as he steps down from his duties still leaves him as only the third least popular Obama administration official to resign.

Barack Obama doesn’t celebrate National Coffee Day. He celebrates tee time.

Look. We get it. The president gave his coffee salute, The Semper Latte, just days ago, recent enough to use for National Coffee Day jokes from dusk 'til decaf. But aren't we missing an opportunity here?

U.S. Grants $450M to Community Colleges To Link Job Training To Employers
WASHINGTON (AP) — Vice President Joe Biden announced almost a half-billion dollars of grants Monday to community colleges working with employers on job training. Linking training to industry demand is key to the Obama administration’s strategy for improving wages and reducing unemployment. Massasoit Community College in Massachusetts and Wisconsin’s Chippewa Valley Technical College received the […]
WH: Secret Service’s ‘task is incredible’
THE HILL – The White House said Sunday it remained confident in the Secret Service despite news that the agency didn’t realize for five days that bullets had hit the White House in a 2011 shooting incident. “I know the Secret Service is on top of this and they will take every necessary step to correct […]
Even hardcore left states don’t believe Obama is doing a good job
President Obama is facing more bad approval ratings, but this time they are coming from states that used to be his biggest fans. Just 39 percent of registered voters in New York responded to a new Marist College poll that they believed Obama was doing an “excellent” or “good” job. This is the lowest level […]

Congress

McCain: Rand Paul 'trusts me' in military matters

McCain thinks he would wield a great deal of influence over a potential President Paul, “particularly on the military side of things.”

Rep introduces bill to ban porn on gov. computers
Most people wouldn’t think to browse porn at work, but then again, most people aren’t federal employees. Earlier this year it was discovered that one EPA official had been browsing pornography for two to six hours a day while at work and now Rep. Mark Meadows, (R-N.C.) has introduced a bill explicitly “prohibit[ing] the access […]
DWS repeated 'back of his hand' line
Apparently when Democratic National Committee Chairwoman Debbie Wasserman Schultz finds a phrase she likes she is going to repeat it, no matter how offensive. For the second time within the past month, footage of the DNC chairwoman has surfaced in which she accused a Republican governor of giving women “the back of his hand.” Republican Super […]
Twitter squashes Schumer's tribute to Eric Holder

One could see how Schumer's simile may have been a stretch. Twitter certainly did.

Lawmakers take in $608 per hour for time in D.C.
THE HILL – Congress will be in session for only eight days during a 102-day span between Aug. 1 and Nov. 12, when lawmakers are set to return for a lame-duck session after the elections. Because the annual salary for members of the House is $174,000, their hourly wage for those eight days amounts to $608 […]