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In rough economy, young adults struggle the most

By | February 11, 2012, 1:47 PM PST

It’s not easy to start a life in the middle of a recession—which is why many young Americans have been forced to put the rites of passage traditionally associated with adulthood on hold.

More young Americans (ages 18 to 24) are unemployed now than at any point since the 1940s, says a study by the Pew Research Center released on Thursday. With only 54 percent of this segment of the population holding jobs, the gap in employment between young and all other working-age adults is a full 15 percentage points—the widest it’s been in recorded history.

The lack of employment hurts in places other than the wallet. With precarious job security and a greater drop in wages than any other age group, 20- and 30-somethings are more reluctant than ever to settle down and start a family. More than a quarter (31 percent) of this group say they have delayed getting married or having a baby due to economic hardship.

More sobering statistics from the Pew Study:

  • 49 percent of young adults ages 18 to 34 have taken a job they didn’t want in order to pay the bills.
  • 24 percent have taken an unpaid job in order to gain work experience.
  • 35 percent have gone back to school due to the poor economy.
  • 24 percent have moved back in with their parents after living on their own.

Thankfully, the Millennials themselves don’t seem to be too worried. Levels of optimism have remain unchanged since before the economic downturn and a vast majority (88 percent) of young adults report that they earn enough money now or believe they will in the future.

Another beam of hope on the horizon: more young Americans are enrolled in high school or college today than at any other time in history—a promising stat that can account for at least some of the unemployed.

Image: khteWisconsin/Flickr

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Sarah Korones

About Sarah Korones

Sarah Korones is a weekend editor for SmartPlanet.

Sarah Korones

Sarah Korones

Weekend Editor

Sarah Korones is a freelance writer based in New York. She has written for Psychology Today and Boston's Weekly Dig. She holds a degree from Tufts University.

Follow her on Twitter.

Sarah Korones

Sarah Korones

Sarah Korones does not have financial holdings that would influence how or what she covers.

She writes for SmartPlanet and is not an employee of CBS.

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Several factors at play.
Most of todays youth have an aversion to menial labor grown out of the spoiled life styles their parents have given them. My first job was cutting grass with an old rotary push mower. Most teens today will not cut grass if it means they have to put the gas in the riding mower.

Sweeping up an auto shop after closing, mopping floors in a store on Saturday mornings, folding and packing dozens of sails at the community boating program every night all summer. Those are just a few of the jobs my generation did in our teens that kids today will not do. The sad part is the local government program designed to find summer jobs for teens refuses to place kids in menial jobs. Only office jobs are accepted into the program.

Then these kids go to college for 5 years and come out waving their diploma and demanding a paycheck. Then the reality of how easy school was hits them and most cannot handle the transition. They retreat into their moms basement only to come out for whiny protests like the occupy movement.

Menial jobs teach the most important lesson most lids lack today. Pride in a job well done, no matter what the task is.
Posted by Hates Idiots
13th Feb
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