News

Teens face worst summer job market in 41 years

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From CNBC.

Excerpt:

Employment among 16-to 19-year olds in May grew by just 6,000, the smallest increase since 1969, when teen jobs fell by 14,000, according to government data analyzed by employment firm Challenger, Gray & Christmas. In May 2008 and 2009, teen employment grew by over 110,000.

[…]Jobs traditionally given to teens are apparently going to older workers who are willing to take low paying job to make ends meet. Employment among 20- to 24-year-olds grew by 270,000 in May, an unusual spike, considering that employment in the same age group fell by 261,000 in May 2009.

[…]”Also impacting the job market for young adults are the large number of older adults who are willing to accept even a temporary, seasonal position simply to generate some income,” said Steven Rothberg, chief executive officer of CollegeRecruiter.com, an online entry-level job-posting site.

“We’re seeing experienced candidates taking jobs normally reserved for college grads and college grads taking jobs normally reserved for college students,” said Rothberg.

And this table is at the bottom of the article:

Summer Employment Growth Among 16- to 19-Year-Olds

Year May June July Total Gained Change
2005 183,000 1,007,000 546,000 1,736,000 +9.0%
2006 230,000 1,033,000 471,000 1,734,000 -0.1%
2007 62,000 1,114,000 459,000 1,635,000 -5.7%
2008 116,000 683,000 355,000 1,154,000 -29.4%
2009 111,000 698,000 354,000 1,163,000 0.8%
2010 6,000 N/A N/A 6,000 N/A
Source: Challenger, Gray & Christmas

The Democrats took control of the House in January of 2007, and that means they controlled government spending from then on.

I find these job numbers interesting because the young people are so pro-Obama, but for superficial reasons. I wonder how they will reconcile their love of Obama’s socialism with their difficulties finding summer jobs from small businesses hurt by Obama’s health care mandates? Or won’t they understand why it’s happening at all?

I wonder if employers are concerned about the quality of education being provided to young people? Or perhaps they are not satisfied with the work ethic of young people who have been raised on self-esteem instead of on achievement and competition?

Videos

Tragedy strikes! Paul Ryan is not going to run for President in 2012!

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The thing I like about Paul Ryan is that now matter how bad our problems, he has the answers.

But he’s ruled out running for President in 2012.

Excerpt:

Rep. Paul Ryan, a Wisconsin Republican… is ruling out a 2012 run for president.

“I’ll give you as Shermanesque a quote as I can,” said Ryan.  “I am not going to run for president. I’m just not going to do it. My head’s not that big, and my kids are too small.”

but Sarah Palin likes him for President:

Over the weekend, Ryan was singled out for praise by Palin during her interview with “Fox News Sunday.”

Asked to handicap the potential Republican presidential field, Palin refrained from commenting on former Massachusetts Gov. Mitt Romney, former Arkansas Gov. Mike Huckabee, and Minnesota Gov. Tim Pawlenty, three Republicans actively weighing a White House run in 2012.

Palin said, however, that she was “very impressed” with Ryan before later adding that it would be “absurd” not to consider running for president herself.

“[W]e have some strong — some young Turks in this party,” said Palin. “Paul Ryan — I’m very impressed with Paul Ryan. . . . He’s good. Man, he is sharp. He is smart, articulate. And he is passionate about these commonsense solutions that America has got to adopt to get us on the right road.”

I don’t like Pawlenty, and Huckabee and Romney are not conservative enough either. Huckabee is too far left on economic issues and Romney is too far left on social issues. But Ryan is just right.

That quote about his head being too small and his kids not being big enough is at the end of this video:

He’s got his priorities straight.

Commentary

Tim H. reviews new book on Christianity and capitalism at Rational Thoughts

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The book review is here on Rational Thoughts.

Excerpt:

Capitalism’s reputation has taken a beating in light of the recent financial crisis.  According to politicians and pundits from both sides of the spectrum, capitalism is to blame.  Not so, say Austin Hill and Scott Rae, who argue in their new book The Virtues of Capitalism that capitalism is our best bet.  In fact, according to Hill and Rae, capitalism “remains the preferred economic system, even the necessary economic system, for any society that upholds a true sense of human rights.”

Hill and Rae approach economics from a distinctly Christian perspective, showing capitalism to be both consistent with and supported by the Bible’s teachings.  Contrary to some, the sharing of goods as described in Acts does not advocate socialism.   The sharing of goods was voluntary, as opposed to forced.  Moreover, the authors show that economics itself is deeply intertwined with moral issues.  Economic conditions can act as a powerful motivator either to encourage or discourage virtuous conduct. “[B]e honest and ask yourself: Is it ever more difficult to be the kind of spouse or parent that one aspires to be, when the economy is slow and personal finances are scares? … [W]hen finances are plentiful, can the enjoyment of material goods enable a person to avoid or neglect other important areas of their relationships?  And a final question… can economics impact one’s relationship with their God.”

[…]Overall, it’s a great and easy to understand book.

Tim likes the book “Money, Greed and God” by Jay Richards better, but that’s a tougher book to read – not for beginners. I’m shocked because I didn’t figure out my worldview regarding economics until my late 20s. Tim is a high school junior. Yipes! He must have good parents.

I recommend this new capitalism and Christianity book for courting Christian women, who are usually fiscally liberal until they get married and start families. It’s only 160 pages and it should be enough to convince any horrible socialist to give capitalism a chance. I also switched to “On Guard” for courting instead of the more difficult “Reasonable Faith”, at least for a first book. No sense scaring her off with something hard right at the start.