Continually High Unemployment Turns Young Adults into America's True, Independent Experts on the Cost of the Bad Economy

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Generation Opportunity

Oct 07, 2011, 08:55 ET

With Unemployment Again Over 9%, "Millennials" See No Relief

Conway: "Most young Americans would prefer to have elected officials in Washington get out of the way of job creators and let those who actually do it for a living drive the solutions."

WASHINGTON, Oct. 7, 2011 /PRNewswire-USNewswire/ -- Generation Opportunity – one of the fastest growing and largest grassroots organizations in the nation dedicated to organizing and mobilizing young adults through a strategy based on social media and ground operations – has issued the following statement in response to the September 2011 jobs numbers issued by the United States Department of Labor:

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"The September unemployment number is a reminder of how an entire generation of young Americans have experienced years of concern over jobs and delayed dreams. Through no fault of their own, they have become the nation's true independent experts on the bad economy. And they don't need protestors on Wall Street or ineffective politicians in Washington to voice their frustrations," said Paul T. Conway, President of Generation Opportunity and former Chief of Staff of the United States Department of Labor. "Most young Americans would prefer to have elected officials in Washington get out of the way of job creators and let those who actually do it for a living drive the solutions."

September marks the 31st consecutive month that the national rate has remained close to or well above 9%. Unemployment climbed to 8.5% in March of 2009, reached 10.2% in October of that year, and remained close to that number throughout 2010. In 2011, the rate opened at 9%, dipped to 8.8% in March, and has remained above 9% ever since. September's dismal 9.1% overall jobless rate does not reflect the significant challenges faced by young Americans, who face historic unemployment. For example, The New York Times reported a youth unemployment rate of 18.1% in an August 25th story.

YOUNG AMERICANS ON DELAYED DREAMS AND THE ECONOMY

Generation Opportunity commissioned a poll with the polling company, inc./WomanTrend (April 16 – 22, 2011, +/- 4% margin of error) and highlights of results for all young Americans ages 18-29 appears below.

Delayed Dreams - Human Cost of the Bad Economy on Millennials:

  • Only 31% of Millennials are satisfied with President Obama's handling of youth unemployment.
  • 77% either have or will delay a major life change or purchase due to economic factors:

44% delay buying a home;

28% delay saving for retirement;

27% delay paying off student loans or other debt;

27% delay going back to school/getting more education or training;

26% delay changing jobs/cities;

23% delay starting a family;

18% delay getting married.

Millennials on Government Spending and the Creation of More Economic Opportunity:

  • 76% of overall Millennials would favor a decrease over an increase in federal spending from its current level if given the chance to set America's fiscal priorities.
  • 59% of overall Millennials agree the economy grows best when individuals are allowed to create businesses without government interference.
  • 53% of overall Millennials agree if taxes on business profits were reduced, companies would be more likely to hire.                                                                      

ABOUT GENERATION OPPORTUNITY

Generation Opportunity is a non-profit, non-partisan 501 (c)(4) organization that seeks to engage everyone from young adults, to early career professionals, college students, young mothers and fathers, construction workers, current service men and women, veterans, entrepreneurs and all Americans who find themselves dissatisfied with the status quo and willing to create a better tomorrow.

Generation Opportunity operates on a strategy that combines advanced social media tactics with proven field tactics to reach Americans 18-29. The organization's social media platforms – "Being American" on Facebook and "The Constitution" on Facebook – have amassed a total fan base of more than 1.6 million. Both pages post links to relevant articles and reports from sources ranging from the federal General Accountability Office (GAO), to The New York Times, The Washington Post, The Brookings Institution, The Wall Street Journal, The Huffington Post, and The Heritage Foundation.

Visit Generation Opportunity's new grassroots website here, click here for resources in Spanish, and connect with us on Facebook by going to "Being American" and "The Constitution".

CONTACT:

Matthew Faraci

202-997-1636

EMAIL

SOURCE Generation Opportunity

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