Not since WWII have young Americans faced such a troubling time when it comes to gaining employment. Sure, everyone is feeling the pinch all over, but our young and newly degreed professionals are finding themselves prepared for a career, but lacking the opportunity to spread their wings.
A little less than half (45%) of consumers between the ages of 16 and 29 are unemployed, 25% of consumers between the ages of 25 and 34 are residing with their parents, and consumers under the age of 35 earn 68% less than consumers their age did 25 years ago. What adds to this dilemma is the cost of a higher education. Students graduating from college owe an average student loan debt of $24,000, which represents a staggering $829 million dollars in total student loan debt across our nation.
To read more about this debt crisis facing American youth, read the full article available at NPR.