FILE - In this file photograph taken June 23, 2010, Frank Wallace who has been unemployed since May of 2009, displays his frustration during a rally organized by the Philadelphia Unemployment Project, in Philadelphia. The Federal Reserve is powerless to lift the economy out of its slow-growth rut and Congress won't pass new stimulus programs with an election looming. Shoppers are reluctant to spend, and businesses are slow to hire.
Matt Rourke, Associated Press
Young adult are struggling the most with the economy.
Since 2010, only 54 percent of adults ages 18-24 have been employed. That's the lowest since 1948, when the government started collecting such data. Currently, about 41 percent of Americans believe young adults (ages 18-34) have been hit the hardest by the bad economy, according to the Pew Research Center.
The gap of 15 percentage points, between young and all aged adults, is the widest in recorded history. Those young adults have also seen a drop of 6 percent in weekly earnings, the biggest decrease among full-time employed adults of any age group in the last four years.
A large segment of the public, 82 percent, says it's harder for young adults to find a job now than it was during their parents' generation. About 70 percent of those surveyed say it's more difficult to save for the future, pay for college, or buy a home, according to Pew.
However, many young adults still look at the future with optimism. In fact, 88 percent say they either currently have or earn enough or will earn enough money in the future to live the life they want, according to the survey of 2,048 adults across the nation.
The full article is available on Pewsocialtrends.org.
DeseretNews.com encourages a civil dialogue among its readers. We welcome your thoughtful comments.
— About comments
- Utah ranks No. 1 for economic outlook for...
- Mistake or miracle: New evidence on the...
- Can't catch a break: America lags behind on...
- Kennecott lays off roughly 100 workers Thursday
- US companies challenging contraception mandate
- Low US energy prices make Euro leaders see green
- Classically trained chef opens diner in...
- S.L. draws up airport plans
Subscribe
Mobile
RSS
- S.L. draws up airport plans
33 - Couples registry gets preliminary nod... 29
- US companies challenging contraception... 19
- Should we let wunderkinds drop out of... 13
- Obama opposes GOP bill on Keystone XL... 11
- IRS official to take the 5th at hearing 8
- Obama threatens veto of Republican... 7
- Utah ranks No. 1 for economic outlook... 7
Fascinating article. It stands to reason that young adults would find them in the most difficult place of anyone during these hard economic times. The last sentence, however, gives us a good idea of just how determined and positive they are. It's More..
I have several young adult children of my own and each and every one of them is struggling
with the poor economy. This article puts everything into perspective. We all need to
realize what they are up against.