The New York Times published an article yesterday (Sunday, May 5, 2013) on the unemployment of America’s young workers.
Unemployment in the 25-34 age bracket is now at a historic 26.6%, surpassing Europe and several other developed countries that that unemployment figure was well under in 2000. The NYT compares the US rate witih Japan, France, Germany and Canada, all four of which have seen a decrease in the unemployment percentages in this bracket in that same time.
The US? Our rate has gone from 18% to over 26%. As the article points out, “And while the American economy has come back more robustly than some of its global rivals in terms of overall production, the recovery has been strangely light on new jobs.”
As I’ve entered into this bracket, I feel lucky to be gainfully employed, but can’t help but wonder how long the steam will stay under the surface with ridiculous student debts mounting and the job market slipping.