Gen Y Lives Disrupted by Unemployment

Former Chief of Staff of the U.S. Office of Personnel Management and President of Generation Opportunity, Paul Conway, has released the results of a poll commissioned by the non-profit that highlights employment results for Americans between the ages of 18 and 29. The poll showed that, due to the continual high unemployment rate (currently up to 8.3 percent):

• 77 percent of 18 to 29 year olds either will delay or have already delayed a major life change or purchase due to economic factors;

• 44 percent have delayed buying a home;

• 28 percent delay saving for retirement;

• 27 percent delay student loan or other debt repayment;

• 27 percent delay returning to school;

• 26 percent delay relocating or switching jobs;

• 23 percent delay starting a family;

• 18 percent delay marriage.

In response to the data, Paul Conway stated, “Today’s unemployment number is another indicator of the far greater, more fundamentally devastating, and still under-reported story impacting young Americans. For nearly three and half years, young Americans have experienced historically high unemployment levels – levels that are among the highest since the end of World War II – that tell the story of millions of delayed dreams and careers of the next greatest generation.”

“Instead of aggressively embracing policies that liberate businesses to create more jobs, the President and his appointees have pursued an agenda that suffocates economic opportunity under the weight of more spending, higher debt, more regulations, and higher taxes. For young Americans, the message from their government is clear – we are not responsible if our destructive policy decisions eliminate your plans for full-time meaningful jobs in a career path of your choice. Even worse, elected officials in Washington are proving themselves to be coldly distant from the human costs of unemployment, the personal stresses and frustrations that come from the uncertainty surrounding unemployment.”

“Millennials deserve better from their government, especially in light of what they have already contributed to this country. They are the generation that witnessed the 9/11 terror attacks on US soil, bravely responded to fight two wars overseas, selflessly helped rebuild New Orleans and other Gulf Coast communities after Hurricane Katrina, and offered their personal support to those most impacted by the economic collapse. Yet, each day they awake to an economic reality, which includes record high unemployment and limited opportunities. Their message to all candidates is clear – we want to get on with our lives and realize our dreams. However, if the solutions you offer equal less jobs and more debt for our country, you will fail to win our enthusiasm and our vote.”