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Posts Tagged ‘underemployed’

The Youth Unemployment Bomb

February 6, 2011 Comments off

From Cairo to London to Brooklyn, too many young people are jobless and disaffected. Inside the global effort to put the next generation to work

https://i1.wp.com/images.businessweek.com//mz/11/07/600/1107_mz_58youth1.jpg

Cairo, Egypt: A cloud of tear gas drives back antigovernment protesters on Jan. 28 Jorge Dirkx/Reporters/Redux

By Peter Coy

In Tunisia, the young people who helped bring down a dictator are called hittistes—French-Arabic slang for those who lean against the wall. Their counterparts in Egypt, who on Feb. 1 forced President Hosni Mubarak to say he won’t seek reelection, are the shabab atileen, unemployed youths. The hittistes and shabab have brothers and sisters across the globe. In Britain, they are NEETs—”not in education, employment, or training.” In Japan, they are freeters: an amalgam of the English word freelance and the German word Arbeiter, or worker. Spaniards call them mileuristas, meaning they earn no more than 1,000 euros a month. In the U.S., they’re “boomerang” kids who move back home after college because they can’t find work. Even fast-growing China, where labor shortages are more common than surpluses, has its “ant tribe”—recent college graduates who crowd together in cheap flats on the fringes of big cities because they can’t find well-paying work.

In each of these nations, an economy that can’t generate enough jobs to absorb its young people has created a Read more…

Middle Class Shrinking; Poverty Class Expanding

January 25, 2011 Comments off
No Jobs, No Hope, No Future: 27 Signs That America’s Poverty Class Is Rapidly Becoming Larger Than America’s Middle Class

In the America that most of us grew up in, most Americans considered themselves to be part of the “upper middle class”, the “middle class” or “the lower middle class”.  Yes, there have always been poor people and homeless people, but they were thought to be a very small sliver of the population.  Well, today all of that is dramatically changing.  America’s emerging “poverty class” is exploding in size at the same time that America’s middle class is rapidly disappearing.  You won’t hear it on the mainstream news, but the truth is that the United States has lost ten percent of its middle class jobs over the past decade.  Only the top 5 percent of income earners in the U.S. has had their incomes increase enough to keep up with the rising cost of living over the past 40 years.  The truth is that today there are a whole lot of people aggressively jostling for the small number of good jobs that are actually available and each year millions more Americans are being squeezed out of the middle class.  The number of Americans that are financially dependent on the U.S. government continues to set new records month after month.  The number of Americans that are participating in the labor force continues to go down.  The sad reality is that the “American Dream” that so many Americans used to take for granted is being ripped away from us.  If you still believe that the United States is guaranteed to always have a very large, very prosperous middle class then you really need to read the statistics listed below.

If you told most Americans ten years ago that in 2011 over 43 million Americans would be on food stamps hardly anyone would have believed you.

But yet here we are.

The U.S. economy simply is not producing enough good jobs anymore.  Most of those that are able to acquire one of these jobs have been able to cling to middle class status, but for millions upon millions of others economic desperation has become “the new normal”.

In fact, more Americans than ever seem to have Read more…