Generation out of luck

[TexasTowelie]

Analysis: Gary Lapon

COLLEGE GRADUATION is supposed to be a time of celebration--a time for graduates to look back on years of hard work and achievement, and forward to a bright future filled with promise.

Yet the class of 2013--the young women and men who were submitting college applications in the fall of 2008 as the world financial system came to the brink of Armageddon following the collapse of Lehman Brothers--are facing a future of further uncertainty and diminished prospects.

They are the latest entrants into what has been dubbed the "lost generation"--so-called because the high rates of unemployment and underemployment its members endure at the start of their working lives drag them down throughout their working lives, making it more and more difficult to maintain the standard of living of their parents.

Only half of recent graduates have been able to find a full-time job that makes use of their degree. Yet all are still left with the bill from college, with the average student loan burden nearing $30,000. With the number of new graduates expected to outstrip the number of new jobs requiring a degree over the next several years, this trend will only get worse.

If the current priorities of big business and the politicians who serve them continue to set the agenda, millions of young people will be robbed of their hopes for the future.

More at http://socialistworker.org/2013/05/23/generation-out-of-luck .

[msongs]

1. our political parties prefer jobs to go to immigrants on various visa schemes. sorry bout that nt

[MichiganVote]

2. Uh..note to the Obama admin.-we've been saying this for five years.

Got a clue yet?

[FirstLight]

3. +1000

but also, those who either are NOT leaving the workforce to retire because of debt or those who are still trying to get back into the workforce in their 50s must be taken into account as well. hell, I am 43 and just finishing my BA...I may be wasting time as well...

[MichiganVote]

4. Yup. Washington DC in denial=Wall Street is the economy. Not.

Clueless = all of them.

[savebigbird]

5. I graduated from college

at the height of the recession, when people were being laid off in droves. It was a very scary and depressing time for me. It should have been a time for celebration.

[blkmusclmachine]

6. Still waiting for that "Change!"

And it looks like we'll all be waiting for a good long time.