Tag Archives: High unemployment

Millennials renters not home owners for good reasons, High unemployment, Lower wages, Dropping out of labor force, Living with family, High student debt, White American jobs decimated by Obama economy

Millennials renters not home owners for good reasons, High unemployment, Lower wages, Dropping out of labor force, Living with family, High student debt, White American jobs decimated by Obama economy

“In today’s labor market, there are nearly 1 million “missing” young workers—potential workers who are neither employed nor actively seeking work (and are thus not counted in the unemployment rate) because job opportunities remain so scarce. If these missing workers were in the labor market looking for work, the unemployment rate of workers under age 25 would be 18.1 percent instead of 14.5 percent.”…Economic Policy Institute May 1, 2014

“For now, the absence of young adults from the housing market continues to put a dent in the homeownership rate, which dropped to 64.8% in the first quarter, compared with 65.2% in the fourth quarter of 2013, according to U.S. Census statistics. The rate was as high as 69.2% in the fourth quarter of 2004. For those younger than 35, the rate has fallen noticeably faster. It slipped to 36.2% in the first quarter, from 36.8% in the fourth. The homeownership rate for this group was as high as 43.6% in the second quarter of 2004.”…Market Watch May 12, 2014

“We are being lied to on a scale unimaginable by George Orwell.”…Citizen Wells

 

 

Janet Yellen was mystified by millennials’ behaviour.

Apparently so is the media.

From Market Watch May 28, 2015.

“Why ‘Generation Rent’ is reluctant to buy houses”

“The fact that “Generation Rent” — 25- to 34-year-olds in the U.S. — isn’t getting off the fence when it comes to buying homes has been well documented. Even with near record-low interest rates, just 38% of this cohort — also known as millennials — owned homes in 2012, according to CoreLogic, compared with nearly 52% of the same age group in 1980, when mortgage rates were in the double digits.”

“Carrington Mortgage Services, a Santa Ana, Calif.-based mortgage lender and servicer, surveyed millennials about home ownership and then did something unique: it sorted the responses by category, and then broke them out by region in the United States.

What they discovered should make real estate agents and loan officers pay attention, because what’s keeping millennials from buying a home in one part of the country isn’t true in another.”

““Student loan debt is universal,” he said. “What does vary is how significant that becomes to the overall equation.””

Read more:

http://www.marketwatch.com/story/millennials-in-texas-and-in-california-reject-home-ownership-for-vastly-different-reasons-2015-05-28

How about these reasons:

From Citizen Wells March 1, 2015.

“At least 9 million native born Americans being added to the labor force and immigrants taking native born American jobs.

There was an increase of over 12 million not in the labor force since Obama took office.

The youngest members of the workforce, 16 and above will be hit the hardest by immigrant workers.

And all of those jobs that Obama bragged about and Janet Yellen and others referred to….

Of the approx. 6 million new employments since Obama took office in January 2009, 4,511,000 were Hispanic/Latino!

We have barely, if at all,  recovered all of the jobs lost during the recession and 75% of the job growth went to Hispanic/Latinos!!””

https://citizenwells.com/2015/03/01/hispanics-already-getting-75-percent-of-jobs-and-obama-giving-them-more-history-trumps-ihs-projections-white-population-millennials-getting-decimated-citizen-wells-reveals-year-by-year-of-obama-ame/

From Citizen Wells February 25, 2015.

“Janet Yellen: Millennials are a mystery”

“Millennials are a bit of a mystery to Janet Yellen.

The head of the U.S. Federal Reserve said Tuesday that the behavior of millennials — which typically refers to a generation of people born in the 80s and 90s — has top economists scratching their heads.

“I think we’re just beginning to understand how the millennials are behaving,” Yellen said before the Senate Banking Committee. “They’re certainly waiting longer to buy houses; to get married. They have a lot of student debt. They seem quite worried about housing as an investment. They’ve had a tough time in the job market.”

As the economy continues to gain strength, Yellen said she expects more millennials to buy homes and start families. “But,” she quipped, “we’ve yet to really see how this is going to affect that generation.””

“Census Bureau: 30.3% Millennials Still Living With Their Parents”

“From the Economic Policy Institute May 1, 2014.

“This paper’s title, The Class of 2014, is admittedly something of a misnomer, as we do not yet know the labor market outcomes of these soon-to-be graduates. However, the outcomes of recent high school and college graduates provide a good sense of the labor market conditions the young men and women graduating this spring will face. This briefing paper examines the labor market that confronts young graduates who are not enrolled in further schooling—specifically, high school graduates age 17–20 and college graduates age 21–24. We look at young graduates who are not enrolled in further schooling in an attempt to focus as closely as possible on the labor market outcomes of those who are starting their careers. ”

“Key findings include:”

  • “In today’s labor market, there are nearly 1 million “missing” young workers—potential workers who are neither employed nor actively seeking work (and are thus not counted in the unemployment rate) because job opportunities remain so scarce. If these missing workers were in the labor market looking for work, the unemployment rate of workers under age 25 would be 18.1 percent instead of 14.5 percent.
  • Unemployment and underemployment rates among young graduates are improving but remain substantially higher than before the recession began.
    • For young college graduates, the unemployment rate is currently 8.5 percent (compared with 5.5 percent in 2007), and the underemployment rate is 16.8 percent (compared with 9.6 percent in 2007).
    • For young high school graduates, the unemployment rate is 22.9 percent (compared with 15.9 percent in 2007), and the underemployment rate is 41.5 percent (compared with 26.8 percent in 2007).
  • Overall unemployment rates of young graduates mask substantial disparities in unemployment by race and ethnicity. The unemployment rates of blacks and Hispanics are substantially higher than the unemployment rates of white non-Hispanics, for both young high school graduates and young college graduates.
  • The large increases since 2007 in the unemployment and underemployment rates of young college graduates, and in the share of employed young college graduates working in jobs that do not require a college degree, underscore that the current unemployment crisis among young workers did not arise because today’s young adults lack the right education or skills. Rather, it stems from weak demand for goods and services, which makes it unnecessary for employers to significantly ramp up hiring.
  • The long-run wage trends for young graduates are bleak, with wages substantially lower today than in 2000. Since 2000, the real (inflation-adjusted) wages of young high school graduates have dropped 10.8 percent, and those of young college graduates have dropped 7.7 percent.
  • The erosion of job quality for young graduates is also evident in their declining likelihood of receiving employer-provided health insurance or pensions.
  • Graduating in a bad economy has long-lasting economic consequences. For the next 10 to 15 years, those in the Class of 2014 will likely earn less than if they had graduated when job opportunities were plentiful.”

Read more:

http://www.epi.org/publication/class-of-2014/

 From Market Watch February 18, 2015.

“HIGH STUDENT DEBT EQUALS FEWER HOME BUYERS”

“Going to college usually leads to better jobs and better pay, but it’s also left many people dangerously in debt and unable to buy a house years after they leave school.

A pair of reports in the past two days illustrate the point. The percentage of student loans at least 90 days overdue rose to 11.3% from 11.1% in the final three months of 2014, the New York Federal Reserve said Tuesday.

While delinquencies have fallen from a record 11.8% in 2013, they are still almost twice as high as they were 10 years earlier.

Then on Wednesday the government reported that construction of new homes fell slightly to a 1.06 million annual pace in January. While sales have been rising gradually, they still aren’t increasing nearly as fast as expected almost six years into an recovery. And the percentage of buyers purchasing their first home is still unusually low.

In a fully functioning economy, housing starts should be running around 1.4 million to 1.8 million a year, analysts estimate.

Clearly the weight of student loans is too heavy for many young people to buy a single-family home. Many can’t qualify for a loan in an era of tougher lending standards or afford the monthly cost of a mortgage.””

https://citizenwells.com/2015/02/25/janet-yellen-millenials-a-mystery-citizen-wells-schools-yellen-student-debt-and-jobs-influx-of-illegals-impacting-job-market-75-percent-of-obama-jobs-went-to-hispanics-latinos-high-unemployment-r/

How about these charts?

ParticipatioRate25DegreeFredgraph10year

StudentLoansFredgraph

 

 

 

 

 

 

 

US economy healthy?, Obama Democrat economic policies helped?, 12.6 % more part time jobs, High unemployment, Labor force plummeted, Average length of unemployment more than double, Median household income dropped

US economy healthy?, Obama Democrat economic policies helped?, 12.6 % more part time jobs, High unemployment, Labor force plummeted, Average length of unemployment more than double, Median household income dropped

“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief

“Between 2009 and 2012, the federal government recorded the largest budget deficits relative to the size of the economy since 1946, causing federal debt to soar. Federal debt held by the public is now about 73 percent of the economy’s annual output, or gross domestic product (GDP). That percentage is higher than at any point in U.S. history except a brief period around World War II, and it is twice the percentage at the end of 2007. “…CBO September 17, 2013

 

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

 

 

Anyone who believes that the US
economy is healthy and has improved under Obama and the Democrats is some combination of the following:

Illiterate
Crazy
Sleeping under a rock.
Gullible
Liberal Democrat.

Ok I know, the last one was redundant.
This has always been and will always be a group effort.

Real citizen journalism.

Commenter bob strauss provided a link to an excellent article about the true state of the economy.

The article from Independent Review Journal, in a series of graphs, paints a picture of the true state of the economy and the changes in the past 5 years.

  • There are 12.6 percent more part time jobs and 4.6 percent fewer full time jobs.
  • Even with part time workers being counted the stated unemployment rate is 7.3 percent instead of 5 percent.
  • The labor force participation rate has plummeted 3 percent.
  • The average length of unemployment has risen from 17.7 weeks to 37 weeks.
  • Median household income has dropped $ 5,000.

Oct2013Slide-1-Full-Time-vs-Part-Time

Oct2013Slide-8-Housing

Oct2013Slide-10-Debt

Read more:

http://www.ijreview.com/2013/09/80348-16-stats-put-claim-economy-healthy-shame/

Democrat convention September 4, 2012, Obama NC problem, Obamacare causes large increases in college health care, High unemployment, No jobs for college graduates

Democrat convention September 4, 2012, Obama NC problem, Obamacare causes large increases in college health care, High unemployment, No jobs for college graduates

“Guilford (Large NC County) appears on it’s way to a third consecutive year with annual jobless rates in double digits. Economists say that likely hasn’t happened since the Great Depression.”…Greensboro News Record December 2, 2011

“North Carolina currently has the fourth-highest unemployment rate in the country and has stayed well above the national average through 2012.”…WRAL, August 17, 2012

“Health care costs for NC college students nearly doubled in 2012 due to provisions of Obamacare.”…Citizen Wells

I just spoke with a young man a few minutes ago who attends Greensboro College, a private college in NC. He mentioned that his health care costs had just almost doubled. Recently, reported here, was a report that the UNC system, NC public colleges, had almost doubled the health care costs for students and the reason was provisions in Obamacare.

Of course I just searched for more information.

From CNS News August 27, 2012.

“Health Insurance Costs Skyrocket For College Students Due To ObamaCare”

“Can we stop calling ObamaCare the Affordable Care Act now?

A Young America’s Foundation activist forwarded an email from the Vice President for Finance at his school, Guilford College (Greensboro, NC), informing him that, “For the 2012-13 academic year, the annual cost of the student health insurance is increasing from $668 to $1,179. This insurance premium has been charged to your student account.”

Why the increase? “Our student health insurance policy premium has been substantially increased due to changes required by federal regulations issued on March 16, 2012 under the Affordable Care Act.”

Guilford College has been forced to raise their student premiums 76 percent, yet this administrator still insists on calling it the Affordable Care Act.

Seems a bit ironic, to say the least.

Guilford joins a long list of colleges raising their premiums. Virtually all current student insurance plans do not meet ObamaCare’s mandates, and Forbes reports colleges have been forced to drop their plans or raise their premiums rates as much as 1,112% (and no, that’s not a typo).

Most students like their current healthcare, but they can’t keep it.

In the email to Guilford students (available in full here), the VP of Finance lays out exactly why they were forced to hike costs:

“As a result, all collegiate student health plans with an effective date of July 1, 2012 or after must provide a minimum benefit of at least $100,000 per policy year, have no limits on benefits deemed essential by the Act, and provide a preventative care benefit with no deductible, co-pays or co-insurance. In compliance with these mandates, (emphasis added) the following changes have been made to the College’s student health insurance policy.

“For the 2012-13 academic year, the annual cost of the student health insurance is increasing from $668 to $1,179.”

For those who don’t understand insurance mandate regulation jargon, this means catastrophic health insurance plans (primarily covering accidents only) have been banned for students. Students, who often don’t need luxury plans, prefer lower cost policies with fewer benefits. This allowed for much more affordable premiums.

Student healthcare choice has been replaced with expensive ObamaCare mandates.

That’s why it’s not just happening at Guilford (a small liberal arts college with around 2,700 students). Some of the most egregious cost hikes include:

The State University of New York in Plattsburgh raised their premium from $440 per student to between $1,300 and $1,600;
Lenoir-Rhyne University (Hickory, NC) raised theirs from $245 to $2,507; and
· The University of Puget Sound (Tacoma, WA) raised theirs from $165 to between $1,500 and $2,000.
Young Americans are already dealing with record-smashing college debt and unemployment, and the Obama administration should answer for these added costs to students.

President Obama will be traveling to campuses across the nation this week trying to sell ObamaCare to young people. Students on campus–or any conservative leaders visiting campus–need to call the Obama administration’s bluff.”

http://cnsnews.com/blog/ron-meyer/health-insurance-costs-skyrocket-college-students-due-obamacare

From Citizen Wells August 20, 2012.

“Michelle Obama spoke at UNCG a few weeks ago.

“It means all of our kids should be able to go to college without a mountain of debt.”

“Because of this reform, our children can stay on our insurance until they’re 26 years old. (Applause.) So they don’t have to lose their health care when they graduate and they’re out there looking for a job, trying to build their lives.””

“Obama lies versus Obama reality.

From the front page of the Greensboro News & Record August 20, 2012.

“Registration cancellations rising at UNCG, A&T”

“UNCG about two weeks ago canceled the registrations of about 1,300 students because they had yet to pay their tuition bills — the highest number of cancellations since fall 2009, university officials said.””

“From Citizen Wells February 12, 2012.

“Amid chants of protest from about 100 students, the UNC Board of Governors this morning approved President Tom Ross’ proposal for tuition and
fee hikes over the next two years.

Ross’ plan would raise tuition by an average of 8.8 percent across the system and keeps increases below 10 percent on every campus.””

“I have met and talked with many college students. Recently a UNCG student, who is struggling to support his family and attend school, confided in me that the recent tuition and health care increases (mandatory health care insurance almost doubled) could force him to leave school.

From Citizen Wells May 2, 2012.

“The UNC system began requiring students to be covered by health insurance in the fall of 2010. Students must either prove that they have their own insurance or buy a plan offered by the UNC system. Before that, 11 campuses required insurance; rates and coverage varied significantly among the schools.

On top of rising tuition and fees, those UNC system students who buy the university-sponsored health insurance plan will face steep premium increases in the next academic year.

The cost of health insurance will climb from a range of $61 to $77 monthly to a range of $118 to $133 monthly, according to a memo sent from UNC President Tom Ross to the UNC Board of Governors. On an annual basis, most students will pay about $500 to $700 more in 2012-13, depending on the campus.””

“From Citizen Wells July 27, 2012.

“Unemployment Rates Increase in 84 Counties in June”

“North Carolina’s statewide unemployment rate (not seasonally adjusted) was 9.9 percent in June. This was a 0.4 of a percentage-point increase from May’s revised rate of 9.5 percent, and a 1.0 percentage-point decrease over the year.””

https://citizenwells.wordpress.com/2012/08/20/obama-nc-college-economy-in-ruins-tuition-up-healthcare-almost-doubled-unemployment-up-uncg-and-at-student-cancellations-no-college-no-jobs/

Make this news go viral.

The truth about Obama, Obamacare and the impact on college students.

Obama lies work on UNC students?, UNC student health care increase, Tuition increase, High unemployment, Obama uses Orwellian language to sway students, Occupy White House?

Obama lies work on UNC students?, UNC student health care increase, Tuition increase, High unemployment, Obama uses Orwellian language to sway students, Occupy White House?

“What do you think a stimulus is? It’s spending – that’s the whole point! Seriously.”…Barack Obama

“…and Socialist governments traditionally do make a financial mess. They [socialists] always run out of other people’s money. It’s quite a characteristic of them.”…Margaret Thatcher

“Guilford (Large NC County) appears on it’s way to a third consecutive year with annual jobless rates in double digits. Economists say that likely hasn’t happened since the Great Depression.”…Greensboro News Record December 2, 2011

God works in mysterious ways.

Obama and the Democrats will have their convention in Charlotte, NC.

Obama spoke recently at UNC, The University of NC, and presented more of his Orwellian lies about education costs and helping students.

Obama and the Democrats have a problem in NC.

UNC system schools recently announced tuition increases.

The unemployment rate in NC is among the highest in the nation. Those about to  graduate face bleak prospects.

And despite Obama’s lies about Obama Care reducing the cost of health care, UNC students just found out that their health care insurance is increasing significantly.

From the Charlotte Observer May 1, 2012.

“UNC system health insurance costs to rise for students

Students in the system’s plan may pay $500 to $700 more”

“The UNC system began requiring students to be covered by health insurance in the fall of 2010. Students must either prove that they have their own insurance or buy a plan offered by the UNC system. Before that, 11 campuses required insurance; rates and coverage varied significantly among the schools.

On top of rising tuition and fees, those UNC system students who buy the university-sponsored health insurance plan will face steep premium increases in the next academic year.

The cost of health insurance will climb from a range of $61 to $77 monthly to a range of $118 to $133 monthly, according to a memo sent from UNC President Tom Ross to the UNC Board of Governors. On an annual basis, most students will pay about $500 to $700 more in 2012-13, depending on the campus.

The percentage increases aren’t yet known for all campuses, because some have not chosen the level of coverage they will offer, said Bruce Mallette, UNC vice president for academic and student affairs. The annual student cost will climb 66 percent at N.C. Central University and 60 percent at UNC-Chapel Hill; the cost at N.C. State has not been finalized, Mallette said.

Notification of the rate increases will go out this week, just as students finish exams and leave campus for the summer. The news will sting.

“A lot of students are going to be very surprised by this and at a loss for what to do, especially on such short notice for the next semester,” said Kate Davis Jones, a UNC-CH junior from Raleigh who is still on her parents’ insurance. “I think it’s going to cause a lot of students to be boxed out of their education if they’re not able to afford the mandated health insurance.”

Jones said plenty of her classmates will feel blindsided, months after the UNC board set tuition and fee rates for next year, with average price increases of 8.8 percent for in-state undergraduates across the UNC system. The tuition and fee hikes are 8.5 percent at NCCU, 9.8 percent at NCSU and 9.9 percent at UNC-CH for the coming academic year.

Claims drive up costs

Mallette said the insurance increases are due to the health care usage of UNC system students during the past couple of years, plus federal regulations on preventive care and pharmacy services issued in March. The process is complicated, he said, by the new provisions of the Affordable Care Act.”

http://www.charlotteobserver.com/2012/05/01/3210536/unc-health-insurance-costs-to.html

Oh, and their beloved Apple Computer Company has just been outed for avoiding paying taxes.

Not a good year for UNC students, NC and the country.

There should be a Occupy White House movement.