The Economy Can’t Do Well, When The Country’s Young People Aren’t Doing Well

The economy can’t do well, when the country’s young people aren’t doing well. Because it’s the young people who have the greatest need to buy houses, cars, and everything else that there is to buy.
Ending up with huge student debts and going back to live with their parents, while working at Starbucks or at Wal-Mart, is what’s happening with many young people nowadays.

Only 27 percent of college grads have a job related to their major

Here’s some interesting new data from Jaison Abel and Richard Dietz of the Federal Reserve Bank of New York. The vast majority of U.S. college grads, they find, work in jobs that aren’t strictly related to their degrees:

http://www.washingtonpost.com/blogs/wonkblog/wp/2013/05/20/only-27-percent-of-college-grads-have-a-job-related-to-their-major/
Going to college is more like gambling than a sure thing to increase your income. Which can’t be good for the country and its economy. This is like the Great Depression for the young people. They don’t end up homeless drifters, like it happened in old days. But going back to live with their parents only masks their poverty and their lack of any future.

The Collapse of Jobs for Working-Age Men

July 18 (Bloomberg) — In today’s “Single Best Chart,” Bloomberg’s Scarlet Fu displays the drop off in employment for American males age 25-54. She speaks on Bloomberg Television’s “Bloomberg Surveillance.”