College graduates … “YES WE CAN, LIVE AT HOME”.
The college graduates are coming home to roost. According to a Times article, 85% of new college graduates move back in with mommy and daddy following graduation. Thanks Barack. Welcome to President Barack Obama’s “Hope & Change” with his failed economic policies. For all those young people who blindly supported Obama in 2008, I wonder how they feel now that they find it difficult to get a job and have to move back in with mom and dad?
Surprise, surprise: Thanks to a high unemployment rate for new grads, many of those with diplomas fresh off the press are making a return to Mom and Dad’s place. In fact, according to a poll conducted by consulting firm Twentysomething Inc., some 85% of graduates will soon remember what Mom’s cooking tastes like.
Times are undeniably tough. Reports (Video) have placed the unemployment rate for the under-25 group as high as 54%. Many of these unemployed graduates are choosing to go into higher education in an attempt to wait out the job market, while others are going anywhere — and doing anything — for work. Meanwhile, moving back home helps with expenses and paying off student loans.
“The youth bloom is off the rose”
From the King Politics, via the Gateway Pundit comes the following map of the 2008 youth vote. How much of that vote can Obama really count on in 2012? These once insulated college kids are now facing the cold hard facts that they are without a job and living back at home. This is hardly what they anticipated when Obama made all the “unicorn and glitter” promises of “yes we can”.
As the Lonely Conservative, one of my new favorite blogs states, its going to be difficult for Obama to blame this one on George W. Bush. The fact of the matter is that Obama’s policies have been damaging to the recovery of the US economy. We presently are at 9.0% unemployment and just had yet another poor jobs report out today. First time unemployment claims fell to 434K, but this is still a terrible number.
In a completely separate issue, but just as important when it comes to jobs, Barack Obama, the first black President has done little for blacks with jobs and employment. The employment rate for black men has fallen to an all time low.
If the election of America’s first African-American president was expected to give blacks an economic boost, it hasn’t emerged yet. Indeed, the percentage of African-American men with a job has dropped to its lowest level since records began in 1972, according to the government’s monthly jobs report released last week.
Even as the economy added a better-than-expected 244,000 jobs, the percentage of black males over 20 who are currently employed dropped slightly to 56.9, the Labor Department’s April report shows. For whites, the equivalent figure is 68.1 percent.
Before this recession, the percentage of black adult men with a job had never dropped below 60 percent, according to Labor Department statistics.