- Feb 12, 2007
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I'm saying that the economy is not creating enough jobs for the youngest cohort to get even a part time job.
And I am saying that you're conclusions are based on assumptions that are no longer applicable behavior patterns, while ignoring modern day trends and demand, all leading to pointing fingers in all the wrong places.
That fewer 16-24 year olds are participating in the work force is not a cause for concern. To the contrary, it is indicative of good developments in how our economy is learning to operate. Fewer people are dropping out of high school and entering the work force. More people are going to college, and delaying permanent entry into the work force. More students are committing more time to their academic success. These are good things.
The things to be concerned about are that school is more expensive than ever before, employer needless demand for "any degree" no matter how irrelevant is as high as ever, technical training remains extremely undervalued in the marketplace, wage stagnation and income inequality are also at their worst levels in a century.
Technical skills are not undervalued. The people struggling are those without such skills: unskilled workers and non STEM students. You are glossing over serious problems that are a big weight on our economy.
Kids who don't belong in college, and would be better off learning a trade, are taking on enormous debt. Many don't graduate or have economically worthless degrees. Employers require college degrees because they've been thoroughly debased by Federal Debt Sponsored oversupply. This debt has also driven education inflation far beyond that of the broader economy (much like Health Care, another heavily controlled by the Feds sector).
As regards wage stagnation, thank lack of valuable skills combined with regulations that make employees more expensive.
And Income Inequality - blah blah blah. If the economy were growing, there would be more opportunity for everyone who is motivated to better his lot in life. When the economy is moribund, of course the very powerful and wealthy do better. They rig the game in their favor. That is the age old condition of humankind. The best way to deal with that is to limit government involvement and control, but that's not the trend line we are on.