◼ 8 Graphs Show Why It’s No Surprise Young America is Turning on Obama - IJ Review
Remember the President’s repeated assurances that his bailouts and Obamacare would revive the economy? Those claims probably sound pretty hollow to the President’s one-time supporters, young adults.
These eight graphs, which examine adults under the age of 25 who have moved out of their parents’ home, via PolicyMic, show that this group is suffering the worst from dwindling incomes and long-term unemployment.
1. Annual household income is at shockingly low levels for families headed by someone under the age of 25. Forty percent of these households get by on only $10,000 a year.
2. Compared with older households, under-25 poverty rates are extremely high.
3. Young unemployment is over double the national average. It peaked in spring 2010 at 19.5%, but still remains higher than it was at the onset of the recession.
4. Despite an increase in the national minimum wage in 2009, and several states across the country raising their minimum wages, median hourly wages for people under 25 are lower than they were 10 years ago. Some economists argue that the minimum wage increase actually contributed to these lowered hourly wages and higher unemployment.
5. Almost 90% of under-25 households rent, as oppose to own their living space. This lowers their equity and oftentimes their credit scores.
MORE, at the link...
