Tag Archives: jobs report

Big Jobs Gain in November … Really?

The media and the White House are having a field day celebrating the great news of the recent employment numbers… 321,000 new jobs added in November and a steady low unemployment rate of 5.8%.

The news also continues to dominate all of the first 10 pages of Google (I didn’t look beyond 10 pages).

Truly that is good news for 321,000 people who were looking for work, and I am happy for them.

But, here’s a group that can’t be all that thrilled about the current employment situation—the millennials (18 to 34 years of age).

Here’s why:

A recent survey by the U.S. Census Bureau shows that the millennials are much worse off today than the same age group over the prior three decades, as follows:

  • Only 65% of millennials currently have a job.
  • Close to 20% of them live in poverty.
  • Millennials with jobs earned an average $33,883 a year between 2009 and 2013—compared to $35,845 for the same age group back in 1980 (current dollar adjustment).
  • Over 30% of all millennials live at home, mainly because they can’t find a job.
  • Only about 2% of this age group (18 to 34) are veterans. In 1980 veterans comprised about 10% of this age group.

From the above, it appears that even though this generation has more education, are more diverse, and many of them speak multiple languages… they are having a tough time making their economic way in the U.S.

eeyore-150

Now, before you write me off as some kind of eeyore—Consider This!

Of the 535 lawmakers in Washington, over 50% of them are millionaires—excluding real estate holdings such as their homes… while only around 5% of their constituents are millionaires—including their homes.

In addition, our lawmakers annual salaries are $174,000 (plus perks and benefits), while the per capita annual income in 2012 was $28,051 (with no perks and few benefits).

 

So, here’s what I think: Our lawmakers and policy creators at all levels of government are totally out of touch with the people they are supposed to represent and serve.

Furthermore, I think it’s time to make our voices heard in Washington—not through riots and property damage to our neighbors, but through communication and the voter’s ballot. Somehow, our voices need to rise above the big money lobbyists and campaign contributors.

If we are going to have an actual sustained growth in our economy where everyone (who wants one) has a job—or better yet—an opportunity to start a business of their own—there must be change.

There needs to be some major changes in our representative government so we the people are being represented… instead of just the lobbyists and campaign contributors.

O.K., that’s what I think, now, what do you think? Are our lawmakers too out of touch with the real world to make the U.S. a better place for our younger generations (all of us for that matter)… or am I just being an eeyore, and everything will likely turn our fine for everyone anyway?

How do you feel about it?

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