Tag Archives: Unemployed

News

Unemployment for young Americans surges to record high of 52 percent

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Here’s a story from the New York Post. (H/T Gateway Pundit)

Excerpt:

“The unemployment rate for young Americans has exploded to 52.2 percent — a post-World War II high, according to the Labor Dept. — meaning millions of Americans are staring at the likelihood that their lifetime earning potential will be diminished and, combined with the predicted slow economic recovery, their transition into productive members of society could be put on hold for an extended period of time.”

“The number represents the flip-side to the Labor Dept.’s report that the employment rate of 16-to-24 year olds has eroded to 46.6 percent — the lowest ratio of working young Americans in that age group, including all but those in the military, since WWII.”

And they’ll have to pay for the trillions that Obama is adding to our national debt, too.

Remember, young people really liked Obama during the election:

I’m thinking that those young people should be more careful about considering a politician’s voting record instead of listening to their government-funded public school teachers. It seems to be that government-run public schools will always indoctrinate children to vote for bigger government, and that means higher unemployment in the private sector, especially for entry-level job-seekers. Maybe the young people didn’t think that far ahead, but then they should be more cautious about forming opinions without asking their parents for input.

You may also be interested in a wonderful video linked here that shows several prominent Democrats assuring us that the stimulus bill was needed to create millions of jobs and keep unemployment below 8%. They don’t understand economics – they’re Democrats. The know less about economics than my keyboard. If young people want to learn about economics, then they need to read Thomas Sowell and Walter Williams. Those are the two greatest living economists, and they teach economics so that regular people like me can understand.

News

Ignorant leftists beginning to learn about economics the hard way

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Schadenfreude is such a wonderful thing.

First, young people are beginning to realize that taxing the rich is not as great as they thought. (H/T Hot Air)

Excerpt:

The proportion of people ages 16 to 24 who were employed in July was 51.4 percent, the lowest July rate since records began in 1948 and 4.6 percentage points lower than in July 2008. …

The Labor Department said 4.4 million youths were unemployed in July 2009, or about 1 million more than in July 2008, putting the youth jobless rate at 18.5 percent, about double the overall national percentage.

Fewer young people were even trying to be part of the labor force this year than in recent years, perhaps choosing summer school, odd jobs around the house or idleness instead.

Let’s be clear. If you raise the price of labor while leaving production levels constant, people will be laid off. Period. This is non-negotiable among rational individuals. My recommendation to the young people: put down the Che Guevara t-shirt and step away from television.

Meanwhile, public school teachers are striking against their own union in order to save their jobs. (H/T Hot Air)

Excerpt:

A group of teachers in the North Clackamas School District took the initiative Thursday, amid losing their jobs because of budget cuts, by gathering signatures in an effort to have their voices heard by their union.

The teachers, who gathered outside their union office, said they want a response from the union and put their demands in writing in the form of a petition.

Those speaking out said it shouldn’t have reached this point, and they would have accepted the district’s offer, favoring a wage freeze to save jobs.

“We took a poll in the spring and they got our opinion and the majority said wage freeze,” said Monica Whiteley, who was laid off. “So I would like them to look at the poll or honor it and have us look at the memo of understanding that is out there.”

It’s good to see reliable Democrat voting blocs finally moving beyond rhetoric into reality. The world is dangerous place, and willful blindness has consequences. Next time, they should learn economics the easy way – by reading Thomas Sowell.

News

MUST-SEE: New ad compares Obama’s job-creation rhetoric then and now

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The video is up at Hot Air. (H/T 4Simpsons)

So what is the unemployment rate now? How well is Obammunism working?

WHTR News reports:

President Obama’s $787 billion stimulus bill to revive the economy is a staggering figure. So why then is there talk in Washington about a possible second stimulus package to jolt the American economy out of recession?

Economists say that only 10 percent of stimulus dollars have been spent and the president’s plan has been criticized for not creating enough jobs.

“You can’t justify it logically. You have to justify it politically and that’s what this comes down to. It’s political distribution of dollars,” said Matt Will, University of Indianapolis.

When the president signed the Recovery and Reinvestment Act into law in February, he said it would create new jobs. Yet unemployment now stands at almost 9.7 percent, the highest in over two decades.

When will voters learn that there is no way to stimulate an economy by spending? The right way to stimulate an economy is by creating jobs, by passing laws to encourage businesses to expand and hire more employees. For example, we could have spent 400 billion dollars and cut the employer portion of payroll taxes, so American workers would go on sale. The Democrat porkulus bills (1 and 2) did noting to create private sector jobs.

Remember, Democrats caused this recession and Republicans tried to stop them. Why should we trust Democrats to get us out of the mess they put us into?