November jobs report shows future still grim for Millennals

Katie LaPotin, Red Alert Politics, December 6, 2013

Despite the promising November jobs numbers, far too many Millennials remain out of work with no prospect of re-entering the workforce anytime soon, according to a report released Friday by the non-profit organization Generation Opportunity.

The effective unemployment rate for adults aged 18-29, according to the organization, remained at 15.9 percent from last month – a number that accounts for the more than 1.844 million Millennials who have been forced out of the workforce because of the lack of available jobs for them. The unemployment numbers for minorities in the U.S. are even worse, with 24.4 percent of African-Americans and 16.9 percent of Hispanics either out of work or no longer in the workforce.

“It looks like almost all – if not all – of the change was young people dropping out of the labor force,” Generation Opportunity President Evan Feinberg told Red Alert Politics. “We see lots of evidence that things are not getting better for young people in America – stagnant wages, fewer working, not as many working full-time.”

Feinberg also believes that the Affordable Care Act, which is set to go into effect on Jan. 1, has also played a large role in keeping youth unemployment high. Generation Opportunity has been at the forefront of leading the campaign to prevent Millennials from signing up for coverage, so much so that the president effectively slammed the organization’s efforts during a speech at the White House Youth Summit on Wednesday.

“Believe it or not, there are actually organizations that are out there working to convince young people not to get insurance,” Obama said. “Now think about that. That’s a really bizarre way to spend your money, to try to convince people not to get health insurance, not to get free preventive care, not to  make sure that they’re able to survive an accident or an illness.”

“The economy has been terrible for young people for five years now, and President Obama has responded by asking my generation to foot the bill for more government spending and pay more for healthcare coverage through Obamacare,” Feinberg said in a press release Friday. “Thankfully young people know a bad deal when we see one and are overwhelmingly choosing to Opt Out of Obamacare, opposing generational theft.”

And while Generation Opportunity’s numbers are non-seasonally adjusted, Feinberg wouldn’t be surprised if November’s low jobs report is due in part to the increase in seasonal hiring for the holidays.

“The fact that so many people are out of the labor force suggests that even the holidays aren’t enough to pull young people out of the doldrums of this economy,” he told RAP. 

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