Joblessness Among Young Veterans Rises Above 13 Percent in December 2011

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Jan 09, 2012, 07:00 ET

1 in 3 Veterans Ages 18-24 were Jobless in the Final Quarter of 2011, Up From 1 in 5 in the Final Quarter of 2010

WASHINGTON, Jan. 9, 2012 /PRNewswire-USNewswire/ -- Data released by the Bureau of Labor Statistics indicates that joblessness among young veterans ages 18-24 was 1 in 3 for the last quarter of 2011, up from 1 in 5 in the last quarter of 2010. The overall unemployment rate for young veterans in December 2011 rose to 13.1 percent. As reported in USA Today: "One out of three veterans ages 18 to 24 were without work the last quarter of 2011, double the rate of civilian peers, according to the Bureau of Labor Statistics. One in five young veterans were without work in the last quarter of 2010."

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"Those who made the decision to serve our nation and to defend the freedoms of all Americans are selfless individuals who, along with their families, have made sacrifices for a cause greater than themselves. The fact that unemployment is disproportionately high for young veterans should be a cause of concern for every American," said Paul T. Conway, president of Generation Opportunity, former Chief of Staff of the U.S. Department of Labor, and former Chief of Staff of the U.S. Office of Personnel Management (OPM). "When young veterans – highly trained and tested professionals with a proven ability to learn quickly, operate on a team, and produce results – are unable to find real opportunities in the job market, it speaks to the poor state of our economy. The root of the problem clearly does not rest with the American veteran – the issue is the faltering economy and leadership in Washington that is committed to higher regulations and job killing taxes that inhibit ingenuity and business expansion, limiting opportunities for all Americans."

Generation Opportunity, which has more than two million Facebook fans, is proud to have former and current members of the U.S. Military as fans on its popular Facebook pages "Being American" and "The Constitution." Currently, the organization has thousands of fans serving the nation and defending freedom in Germany, Japan, South Korea, Kuwait, Qatar, Afghanistan, and other posts around the globe.

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

Millennials and National Security:

Greatest threats to national security: National Debt (62%), Energy Dependency (61%) and Indebtedness to Foreign Powers (50%).
80% view China as a danger: economic threat (48%), both economic and military threat (28%) and military alone (4%).
70% (net) would increase production of domestic energy sources like oil, natural gas, and coal, while only 22% (net) would decrease production.

Dissatisfaction with Current Level of Employment and President Obama's Handling of Unemployment:

43% are not satisfied with their current level of employment.
Just 31% of 18 – 29 year olds approve of the President Obama's handling of youth unemployment.

Delayed Dreams Resulting from a Poor Economy:

77% of young people ages 18-29 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.

Leaders In Washington, D.C. Fail to Reflect Interests of Young Americans:

69% say the current leadership in Washington fails to reflect the interests of the younger generation.
Only 36% believe there is the right leadership in Washington.
61% indicated that a candidate's positions on issues and record in office will be more important than charisma and likeability when they cast their vote for President in 2012.

Government Spending and 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.
69% prefer reducing federal spending over raising taxes on individuals in order to balance the federal budget.
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 will continue to engage young Americans on issues that impact their lives and the nation as a whole and encourage them through both social media and grassroots organizing to become more civically engaged and make their voices heard.

Generation Opportunity operates on a strategy that combines advanced social media tactics with proven grassroots tactics to reach young 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 2 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.

Read about Generation Opportunity here; visit "Being American" on Facebook here and "The Constitution" on Facebook here.

For our Spanish-language page – Generacion Oportunidad – click here.

CONTACT:
Matthew Faraci
202-997-1636
EMAIL

SOURCE Generation Opportunity