Young Adults Continue To Feel Impact Of Recession [AUDIO]
A new survey by the Pew Research Center shows young adults continue to feel the impact of the recession and are less likely than any other age group to be employed than at any time since World War II.
According to the results, 41% of Americans believe that younger adults have been hit harder than any other age group when it comes to employment.
Carl Van Horn, director of the Heldridge Center for Workforce Development at Rutgers University says twenty and thirty year-olds are often at the bottom of the economic ladder and its a lot tougher for them to hold onto jobs.
“When the economy starts to pick up…and I think it will start to get better soon…then they are competing with some older workers that have a lot more experience and so a lot of times they are unsuccessful in getting another job.”
Its not any easier for those just finishing up school. “We even found this in our own research with college grads…their unemployment is twice what it was just a few years ago” said Van Horn.
69% also said its more difficult for today’s generation to buy a home, car or save for the future.
“When they start out in the workforce many of them are not making enough money for these big purchases…they are living at home longer or with roommates until they can reach that next step.”
Still the survey shows young adults remain optimistic about the future. Only 9% said they didn’t think they would ever have enough money to live the way they want.