The number of young Americans without a job has exploded to 53.4 percent — a post-World War II high, according to the Labor Dept. — meaning millions of Americans are staring at the likelihood that their lifetime earning potential will be diminished and, combined with the predicted slow economic recovery, their transition into productive members of society could be put on hold for an extended period of time.
The number represents the flip-side to the Labor Dept.'s report that the employment rate of 16-to-24 year olds has eroded to 46.6 percent -- the lowest ratio of working young Americans in that age group, including all but those in the military, since WWII.
I think these dismal numbers are a direct result of this. The Minimum Wage was increased last year. If you want to hire a totally inexperienced kid, you have to pay him what Congress thinks he's worth, not what you are willing to exchange for his labor.
Raise the price of something, relative to everything else, and demand drops.
Here's a chart from Gateway Pundit, showing what the electoral map would've looked like if no one had voted in 2008 except 18 and 19 year olds.
Thank you, Congress and President Obama for teaching our kids a valuable lesson: Elections Have Consequences.
Seriously. Thank you. We couldn't have taught them this without your help. "It Takes A Village. "
A 572nd coat of Whitening to Instapundit for the links.
