Bear Stearns, AIG, Citigroup, unfortunately for world not Lehman Bros., Gov't Motors, Chrysler & now Young Adults. What about . . . & yeah, you too.
"We're not looking for special handouts or special treatment," said the group spokesperson, we're just asking for and hoping to get special handouts and special treatment.
From The Wall Street Journal:
Young adults, hit disproportionately hard in the current recession, are asking Congress for targeted aid to help them recover.
Unemployment rose to 15.2% in June among 20-to-24-year-olds, compared with 9.5% for the population at large. Such a disparity is evident in every recession. But this time, the problem is compounded by rising education and health-insurance costs that have left many young adults saddled with high debt and among the ranks of the uninsured.
This dreary picture has led advocacy groups for young people to form a coalition called 80 Million Strong for Young American Jobs. It's pushing a legislative agenda devoted to young Americans, partly on the argument that, without help, the group will be a continuing drag on the economy.
Topping the list of their requests: extending dependent status in health-insurance programs to the age of 26; and increased aid for educational expenses, such as college-loan forgiveness for medical professionals working in rural areas.
"We're not looking for special handouts or special treatment," said Mathew Segal, one of the group's co-chairs. "I can say we've been hit hard, and I can say we've been underrepresented in the discussion." The plea for more help on health insurance might be the most attainable goal, because versions of the health-overhaul legislation being debated in Congress have provisions aimed at keeping younger people on their parents' insurance plans for longer. Young people account for nearly 30% of all uninsured people, even though people aged 19 to 29 make up 15% of the population.
Economic data have shown that young people who try to enter the job market in a recession are plagued with lower wages and higher unemployment for years. The fact that Americans just now reaching working age represent a sizable demographic bubble exacerbates the problem.
From The Wall Street Journal:
Young adults, hit disproportionately hard in the current recession, are asking Congress for targeted aid to help them recover.
Unemployment rose to 15.2% in June among 20-to-24-year-olds, compared with 9.5% for the population at large. Such a disparity is evident in every recession. But this time, the problem is compounded by rising education and health-insurance costs that have left many young adults saddled with high debt and among the ranks of the uninsured.
This dreary picture has led advocacy groups for young people to form a coalition called 80 Million Strong for Young American Jobs. It's pushing a legislative agenda devoted to young Americans, partly on the argument that, without help, the group will be a continuing drag on the economy.
Topping the list of their requests: extending dependent status in health-insurance programs to the age of 26; and increased aid for educational expenses, such as college-loan forgiveness for medical professionals working in rural areas.
"We're not looking for special handouts or special treatment," said Mathew Segal, one of the group's co-chairs. "I can say we've been hit hard, and I can say we've been underrepresented in the discussion." The plea for more help on health insurance might be the most attainable goal, because versions of the health-overhaul legislation being debated in Congress have provisions aimed at keeping younger people on their parents' insurance plans for longer. Young people account for nearly 30% of all uninsured people, even though people aged 19 to 29 make up 15% of the population.
Economic data have shown that young people who try to enter the job market in a recession are plagued with lower wages and higher unemployment for years. The fact that Americans just now reaching working age represent a sizable demographic bubble exacerbates the problem.
posted by Sid Cottingham | 5:31 AM
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