Poverty is an astonishingly common experience here in the world’s richest country. As I wrote this morning, almost 40 percent of American adults experience it for at least a year by age 60. But you know who poverty is especially common among? Young adults.
via Yep, Being a Young, American Adult Is a Financial Nightmare – Jordan Weissmann – The Atlantic.
Something not addressed in this article is the underemployment issue with today’s youth. A high percentage of students are graduating with degrees, and cannot find work in their fields despite their degree and massive student debt. Many are settling for min wage jobs just to pay their student loans and moving back in with families in their mid twenties. Another domino effect that is happening is when they want to settle down, get married, and buy a home, they are being denied for mortgages because their student debt is too high.
These are all clear signs there is something missing in education, when we have more educated people than ever that are experiencing these type of financial struggles. A big missing link is that society/education has conditioned people to believe the only way to work is to be hired by an employer. There are so many talented people that are fully capable of taking their passions, skills, knowledge and ideas and starting their own businesses.
It has been stated that over 65% of the work that will be done by today’s youth hasn’t been invented yet….we must support and teach our youth to think entrepreneurial and realize they can invent our future, so they can succeed in today’s changed world.
Remarkable(and alarming)trends Deb – thanks for sharing.