President Obama & the Democrats Assault on College Students

In President Obama & the Democrats continued "War on Children" we see how his North Korean like ballistic missiles of fiscal and economic failure have crashed down on many youthful supporters of his 2008 ascent to Commander of Youthful Grief, (the office formerly known as Commander in Chief).

A report done by the Economic Policy Institute shows unemployment for young college graduates was 10.4% in 2010, and the underemployment rate was 19.8%. For young high school graduates, the statistics were even grimmer: unemployment was 32.7% in 2010, and the underemployment rate was 55.9%.

From the Economic Policy Institute --

Though the labor market is now headed in the right direction, the prospects for young high school and college graduates remain grim. This briefing paper examines the labor market that confronts young graduates who are not enrolled in additional schooling—specifically, high school graduates age 17–20 and college graduates age 21–24—and details the following findings:

• Unemployment and underemployment rates of young graduates have only modestly improved since their peak in 2010. 

• For young high school graduates, the unemployment rate was 32.7 percent in 2010 and 31.1 percent over the last year (April 2011–March 2012), while the underemployment rate was 55.9 percent in 2010 and 54.0 percent over the last year.

• For young college graduates, the unemployment rate was 10.4 percent in 2010 and 9.4 percent over the last year, while the underemployment rate was 19.8 percent in 2010 and 19.1 percent over the last year.

• There is no evidence that young high school graduates have been able to “shelter in school” from the labor market effects of the Great Recession; college and university enrollment rates for both men and women have not meaningfully departed from their long-term trend since the start of the Great Recession.

• The long-run wage trends for young graduates are bleak, with wages substantially lower today than they were in 2000. Between 2000 and 2011, the real (inflation-adjusted) wages of young high school graduates declined by 11.1 percent, and the real wages of young college graduates declined by 5.4 percent.

• Young graduates lack opportunities for advancement, a trend underscored by the fact that there are now nearly 30 percent fewer voluntary quits each month than there were each month in 2007.

• Graduating in a bad economy has long-lasting economic consequences. For the next 10 to 15 years, the Class of 2012 will likely earn less than they would have if they had graduated when job opportunities were plentiful.

• The safety net of federal and state assistance programs often does not cover young workers due to eligibility requirements such as significant prior work experience.

• The cost of higher education has grown far more rapidly than median family income, leaving students with little choice but to take out loans, which, upon graduating into a labor market with limited job opportunities, they may not have the funds to repay.

• The scarcity of job opportunities for the Class of 2012 is a symptom of weak demand for workers in the overall economy. What will bring down the unemployment rate of young workers most quickly and effectively are policies that will generate strong job growth overall, such as fiscal relief to states, substantial additional investment in infrastructure, expanded safety net measures, and direct job creation programs in communities particularly hard-hit by unemployment.



Unemployment and underemployment rates for young college graduates, 1994–2012

 To read the whole report click here.

But on the bright side... the Master Degree counter workers at McDonald's will now know how to give change!

Lawmakers work to reenergize Ohio

We want to thank Sara from State Rep Nan Baker's office for forwarding us the following requested press release...

For Immediate Release

September 21, 2009

Media Contact: Megan Piwowar
(614) 466-0863

Lawmakers work to reenergize Ohio

Cleveland—State Representative Nan Baker (R-Westlake) today unveiled proposals by Ohio House Republicans to spur economic development. Baker and other members of the House Republican Caucus, including Minority Leader William G. Batchelder (R-Medina) and Representatives Ron Amstutz (R-Wooster), Todd Snitchler (R-Uniontown), Dave Hall (R-Killbuck), and Terry Boose (R-Norwalk), revealed extensive plans to bring about job creation and industry growth.

“During this economic crisis, with everything at stake, Ohio cannot afford another second of inaction on the part of House leadership,” Baker said. “As the ranking minority member of the House Economic Development Committee, I have become increasingly frustrated by the Democrat leadership’s unwillingness or inability to lead. Therefore, House Republicans worked tirelessly over summer recess to create a collection of economic proposals that could potentially turn the economy around.”

The press conference, in conjunction with four other conferences across the state, was conducted to address the failure of the Democrat-controlled Economic Development Committee to conduct regular, productive hearings on the economic condition of Ohio.

“The Republican caucus is focused on what Ohioans care about the most, jobs and economic development,” Batchelder said. “While Democrats have not given priority to the creation of jobs, we have been working on solutions for Ohio’s economy.”

Frustrated with inaction on the part of Governor Strickland and the Economic Development Committee, Republican members engaged in discussions with the local business community for ideas to revamp Ohio's economy. Based on their findings from market research and conversations with constituents, the House Republicans created a package of proposals that were announced at the press conferences and will be introduced in the coming weeks.

“So far, the Democrats have not shown that they are willing to make any important decisions regarding economic development within our state,” Hall said. “How many more businesses and young people need to flee the state before the Democrats decide they need to act?”

Among these ten bills are proposals to offer employer tax credits to hire unemployed Ohioans and to grant income tax credits for college graduates who remain in Ohio. Altogether, these bills are designed to provide resources to small businesses, offer incentives for businesses and young people to remain in Ohio, and track Ohio's progress in rebuilding its economy.

“In presenting a package of economic proposals, our goal is to spark an honest, constructive debate about the best course of action for Ohio’s future,” Amstutz said. “House Republicans have a specific plan in place to bring about economic recovery, but since the onset of this General Assembly our voices have been silenced, regardless of how practical our ideas were.”

“This recession is affecting all Ohioans, both Republican and Democrats,” Snitchler said. “We need to all work together to provide a solid foundation for Ohio’s economic future. We encourage lawmakers at all levels of government to consider our proposals and use them as they wish—changing the course of Ohio is what is important, not receiving credit or praise.”

The House Economic Development Committee has only met four times since the commencement of the 128th General Assembly and has yet to pass a single bill. The only item to pass out of committee was an ineffectual House Resolution that created the Compact With Ohio Cities Task Force, which focuses on local municipalities rather than the economic health of the entire state.

“Ohioans have entrusted us to make difficult decisions during difficult times, and we have an obligation to uphold our commitment,” Boose said. “This is not the time to coast. This is not the time to sit back with our fingers crossed. Ohio needs action, and if the Democrats won’t step up to the plate then I will.”

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