Unbelievable: Jobless Rate For Young Is 25%—and Rising

[denner]

Quote from SCI new york:

They dont get "blocked" business owners run businesses, which means profits. If I can run a bathroom renovation company and hire 4 immigrants willing to work for the same money as 1 college grad with a chip on his shoulder, the college kid can take a hike. Not rocket science here, it's construction. 4 guys means getting jobs done quicker, more efficiency and ability to book other jobs more frequently, equals more profits. It's no myth, its fact. You can't hire a barely speaking english immigrant to build a quant program, but you can hire him and his pals to hammer some nails. Why pay some punk kid who thinks he "deserves" 100k a year because he has a piece of paper saying he read some books for 4 years? That doesn't make sense in business terms.

The jobs are out there, the problem is kids these days feel entitled. The "entry level" to them is delusional. They have too much pride and ego to take that night shift job at the diner for miniumum wage and get yelled at by a boss and take shit for crap pay. But you take a guy who doesnt care about that and is willing to take the crap because he wants the job then what can you do?

I know plenty of college kids that do nothing with their degree but feel they deserve a great salary and benefits. And they would like to work minimal hours and have long vacations. They don't want to work 15 hour days or 100 hour work weeks for shit money, oh God forbid they are pushed to work hard and learn what it really means to earn your keep.

Parents are to blame for that as well, they spoil these little bastards, not to mention all the garbage on television like morons making hundreds of thousands of dollars because they drink and act like fools on reality tv.

Do I agree with the immigration laws? No, but I also don't agree with a business man not having any choice other than paying someone more than they're worth. That just doesn't make sense.

You are so completely right, yet most people never look at this situation from a business owner's perspective.

The idea that you could find even 10 in 100 college level kids willing to do alot of this work is optimistic. Most of these jobs are hard labor in extreme weather conditions. They simply can't do that sort of work, further they would never do it at competitive prices.

 

[jlancaster]

Too bad for those little ones. I hope by the time I have teenage kids the economy will have recovered but seeing as I'm not even married yet I've got at least a decade and a half to go.

 

[W4rl0ck]

Where did I say the business man was blocking them? Illegal immigrants are blocking them. The business man is breaking the law which isn't enforced intentionally by the controllers (who run both political parties btw).

I was just commenting on the canard about illegals only taking jobs that teenage citizens won't take.

I don't see anything changing, unless people get some backbone and there is a major political upheaval in the US, and the downtrend toward third world status continues.

Quote from SCI new york:

They dont get "blocked" business owners run businesses, which means profits. If I can run a bathroom renovation company and hire 4 immigrants willing to work for the same money as 1 college grad with a chip on his shoulder, the college kid can take a hike. Not rocket science here, it's construction. 4 guys means getting jobs done quicker, more efficiency and ability to book other jobs more frequently, equals more profits. It's no myth, its fact. You can't hire a barely speaking english immigrant to build a quant program, but you can hire him and his pals to hammer some nails. Why pay some punk kid who thinks he "deserves" 100k a year because he has a piece of paper saying he read some books for 4 years? That doesn't make sense in business terms.

The jobs are out there, the problem is kids these days feel entitled. The "entry level" to them is delusional. They have too much pride and ego to take that night shift job at the diner for miniumum wage and get yelled at by a boss and take shit for crap pay. But you take a guy who doesnt care about that and is willing to take the crap because he wants the job then what can you do?

I know plenty of college kids that do nothing with their degree but feel they deserve a great salary and benefits. And they would like to work minimal hours and have long vacations. They don't want to work 15 hour days or 100 hour work weeks for shit money, oh God forbid they are pushed to work hard and learn what it really means to earn your keep.

Parents are to blame for that as well, they spoil these little bastards, not to mention all the garbage on television like morons making hundreds of thousands of dollars because they drink and act like fools on reality tv.

Do I agree with the immigration laws? No, but I also don't agree with a business man not having any choice other than paying someone more than they're worth. That just doesn't make sense.

 

[W4rl0ck]

This argument is just silly, who did the work before illegals showed up?

Maybe global warming made it so hot that only illegals can work outside? LMAO.

Quote from denner:

They simply can't do that sort of work...

 

[brokershopping]

Quote from Scataphagos:

Hardly "everyone" agrees. Isn't this notion discrimination? It's against US law to discriminate against gender, race, religion, sexual orientation, weight, etc. Why is it OK to discriminate against "income"?

The progressive tax system in the US is not only immoral, it's discriminatory and should be against the law. Instead.... there should be a flat tax. If there is an exemption for lower income, EVERYBODY should get the same exemption.

It could be argued that the wealthy utilize more of the "infrastructure" that taxation provides, so it's fair that the tax burden be greater. For example, the guy who just bought an $88 million dollar mansion in Florida has more to lose than me, who lives in a doublewide trailer in the desert. He has more to protect and should pay a greater share of the cost of the security institutions that enable him to keep it. Military, law enforcement, fire dept, dog catcher, etc. An invading country isn't going to come mess with my Alpaca ranch, they are going to move into his plush abode. The US military isn't hanging out in a tin shack on the outskirts of Baghdad, they annexed Saddam's palaces.

The rich Florida resident, hard working businessman that he is, probably utilizes a *cough* highly educated workforce, and is thus yielding a greater return on the investment the gov spends on education, and should pay for more of it. He might use 1000x more electricity than me, so the costs of subsidizing, developing, and maintaining the grid should fall to a greater extent on his shoulders. He should chip in extra for the budget of the CDC, because beyond the individual benefit we both get from a health-protection standpoint, he has a financial interest in keeping his 400 employees at work and out of the hospital. Of course he should pay a greater share of the budget of the SEC, since his publicly traded company, and his own sizable portfolio, depend on the hard work and *cough* vigilance of a hard working team of wackers, er, regulators to provide a fair and orderly market. The roads he ships his products over, the phone lines for the call center, the patent office for his inventions... There are a million things. In a flat tax system, I would be subsidizing his sorry ass in all these areas. I don't know how much of this bs I actually believe, but that is the argument.

 

[denner]

Quote from W4rl0ck:

This argument is just silly, who did the work before illegals showed up?

Maybe global warming made it so hot that only illegals can work outside? LMAO.

And you really believe that this current generation has the same work ethic of generations going back 30-40 years.

Not to mention the fact that illegals doing the backbreaking work isn't something recent, it's been going on for quite awhile now.

I should also mention that the type of work we are discussing has long been the domain of immigrants period. Whether we are talking the past 20 years or the past 100-200 years. Whether they be Irish immigrants, Polish immigrants, Chinese, etc, etc...It's not like this is some recent development.

 

[hippie]

Quote from S2007S:

Now that statistic is quite interesting, 25% and rising that just says a lot right there....They are talking about raising the minimum wage which I thought by now would have least gone through but with increase in minimum wage this could also slow down the hiring process of new teenagers into the work force as well. Should be interesting to see where this goes over the next few months as kids who are out of school start looking for temporary employment for the summer!


Teenage Wasteland: Jobless Rate For Young Is 25%—and Rising
CNBC.com | April 13, 2011 | 03:40 PM EDT

A quarter of teenagers were jobless in March, a surprising increase from February even as the unemployment rate for the rest of the population decreased.

This figure may only get worse if budget-strapped states raise the minimum wage, and it could also be a sign of greater structural damage underlying our economy, analysts said.

The unemployment rate for 16- to 19-year olds jumped back up to 24.5 percent in March, up from 23.9 percent the prior month, according to the latest jobs data from the Labor Department.

The total unemployment rate fell to 8.8 percent from 8.9 percent.

“Even when comprehending that teen employment is volatile in nature, the data that exists serves up some shock and awe,” said Brian Sozzi, a retail research analyst with Wall Street Strategies, in a note Wednesday. “If these (wage) increases do go through, the prospect for teen employment will remain grim as employers search for workers with advanced skills to fill positions.”

Twelve states including Illinois and Pennsylvania are considering a hike in the minimum wage. While this has been subject of a long-running debate, many economists and analysts say raising this pay bar may cause more teen layoffs, even as it helps those that manage to stay employed make more.

“Minimum wage increases over the past few years has definitely made it worse,” said Peter Boockvar, chief equities strategist at Miller Tabak. “In fact, there should be zero minimum wage for teenagers, or at most, something much less than the current rate.”

Teens typically are the first to be fired and the last to be hired back in a normal economic cycle so this rate can be considered a kind of leading indicator of employment.

Consider that the teen unemployment rate surged to 19 percent in May of 2008, even as the overall unemployment rate ticked only slightly higher to 5.4 percent. If the teen rate continues to diverge from the overall rate, then it could be an early sign of stagnation in the overall economic recovery.

On a more micro level, Sozzi believes the high teen unemployment rate could hurt the youth retailers that are not market share leaders in this already-finicky market. Pacific Sun [ PSUN 3.61 -0.03 (-0.82%) ] could be particularly vulnerable because of its lost share to Zumiez [ ZMUZ + (+0.00%) ] as teens save the dollars they do have to spend at their favorite places, the analyst said. The recent bankruptcy of the Sbarro pizza chain could have something to do with lost teen spending power, he said.

Still, Sozzi said these high unemployment numbers mean much bigger structural issues are at stake for our nation than just a Sbarro slice.

“There is an entire class of the population, young eager minds that ultimately will one day be looked upon as vital instruments in the workforce, resigned to not developing the necessary people and basic workplace skills needed to compete effectively.”

why are 16-18 year-old at school?

Many in this age group don't need a job as they are still living with mom & dad. If they get tired of mom & dad, they can make a baby and get Session 8 public housing, food stamps, welfare check and medicaid. Obuma will provide for them.

 

[Millionaire]

None of this should be of concern to us Elite Traders

As 'Rich Dads' we of course teach our kids that they should have money work for them instead of having to work for money like the Poorer people have to

 

[Rabbitone]

Quote from EMRGLOBAL:

No offense, have you any idea about AARP? Do you know the bullshit they fund? Do you know that AARP is a fucking scumbag Liberal Bloodsucking Organization that is backing the Progressive Agenda in America?
--------------------------------------------------------------------------------

AARP – Agree completely. Burn it to the ground. Nice idea in the beginning. Now a bunch of liberal pussies. They are their own corrupt lobby who sold their souls for the big money.

Progressive Agenda- Scumbag liberals who will give away the clothes on our backs to get votes.

Glock22 - nice weapon. But I have small heavy hands, that work just right on the 19. Small hands also come in handy to disassemble and assemble most small arms in the field.

My Generation (Boomer Generation) - Someone to beat up and blame for all the nations problems. Just the same way the Boomer generation blamed their parents during –Nam. It’s a nice tradition that is going to continue to the next generation.

Social Security – A Ponzi scheme. This is not new. We knew it was broke 20 years ago. It is running on the hope of Treasury auctions.

If you look at the last election stats the plurality percentage wise of votes for BO and the liberals was the younger generation and not the boomers. They voted in the “big change” or as you call them the fucking Fools and clowns.

The sad thing about all this is those in power in Washington is they want us to fractionalize and beat up us up using stereotypes; that way they keep us fighting among ourselves and keeps us off of their back. They never want us to come together and agree to get rid of the true enemy – them.

All generations (not just my generation) are being represented in D.C. today in the big game of chicken. The object in this money game is to patch the dyke by stuffing money into it and then pass it along to the next elected clown to patch until the dam burst. They have been playing this game for the last 25 years.

It is the same shit after every election no matter which party. Fill the holes in government with printing money and more money. Buy more votes than the other party by growing government larger. So guess what. It is just like a baby making a mess. It’s always the fault of the last one holding it. That is why the changes in government we need will never come about until a big disaster hits this government. That will happen when the money printing presses grind to a halt. That is coming quicker than you think.
-----------------------------------------------------------------------------------------------------------
Do you expect people to continue to pay into a System that is Broke and that we (My generation) will not see a dime of?

Hell no I don’t. I have kids and grand kids that I don’t want this to happen to. That is not what I spent my life working for.
--------------------------------------------------------------------------------------------------------------------------------
P.S. Soon I plan on shooting some holes in my diapers to spread my shit around evenly.

 

[SCI new york]

W4rl0ck

Registered: Jul 2008
Posts: 770
04-14-11 05:14 PM
Where did I say the business man was blocking them? Illegal immigrants are blocking them. The business man is breaking the law which isn't enforced intentionally by the controllers (who run both political parties btw).

I was just commenting on the canard about illegals only taking jobs that teenage citizens won't take.

I don't see anything changing, unless people get some backbone and there is a major political upheaval in the US, and the downtrend toward third world status continues.
denner

Registered: Aug 2010
Posts: 544
04-14-11 06:23 PM
________________________________________
Quote from W4rl0ck:

This argument is just silly, who did the work before illegals showed up?

Maybe global warming made it so hot that only illegals can work outside? LMAO.
________________________________________


And you really believe that this current generation has the same work ethic of generations going back 30-40 years.

Not to mention the fact that illegals doing the backbreaking work isn't something recent, it's been going on for quite awhile now.

I should also mention that the type of work we are discussing has long been the domain of immigrants period. Whether we are talking the past 20 years or the past 100-200 years. Whether they be Irish immigrants, Polish immigrants, Chinese, etc, etc...It's not like this is some recent development.


I didn't say the businessmen were blocking them, no one is other than themselves. Laws are broken in business all day everyday. HFT's are automatic front runners, illegal, but no one stops them. Think of HFTs as the illegal immigrants of trading. They allow the trading firms to execute trades at a much higher speed and a much lower cost to the company and generate higher profits. It goes on all day but that isn't being stopped. It is the SAME current generation who is too busy watching reality tv and drinking cappucinos than worrying about politics, government or actual change. Everyone made a big stink about how so many young voters voted for Obama and that may be true but 90% of them have ABSOLUTELY NO CLUE about politics and actual ramifications on what their vote meant. They did it because every other young douchebag wearing a scarf and a fidora hat was doing it. They'd rather ignore reality and believe that things will always be good. They're a generation of spoiled americans. Not in absolute or dollar terms, but in economic terms. Think about it, there has been no great war, no upheaval, no grand scale of well anything. We've had that luxury, but maybe it hasnt been a luxury because I think as americans we truly have forgotten who we are. The principles of the founding fathers, the ideas this country was built on, the values we used to have an honor have all changed and not for the better. People are worried about how much bigger kim kardashians ass can get instead of electing proper officials to the senate. So you get a bunch of old men who are all just puppets of a systems that people dont care enough about to begin with. Theres no accountability, so we wage wars, bail out companies that should fall, we go from capitalist, to democracy to communism to totalitarianism all in the blink of an eye by the ink of a pen because people just dont care. It really is a terrible sad time.

I watched the documentary on Enron a few weeks back and I was so surprised to really see what went on and to this day I dont understand how they wound up bailing out all these banks other than greed because they all did pretty much the same thing enron did with no moral code or ethics and got away with it.

To the second quote, I wholeheartedly agree. The work ethic today, by population just isnt the same as history. Part of that is technology so jobs have changed etc, but thats america, times change and we adapt. Just seems like most of the youth doesn't want to adapt. They want to be losers.

This country began on immigration and was built and progressed over time by it. The transcontinental railroad. An american feat of ingenuity and hard work. Built by immigrants. Look at how many immigrants come to america, even legally, and build businesses and create wealth for themselves, sometimes on a very large scale. A body builder from austria wins mr olympia and creates a hollywood box office beast and becomes governer of california! The american dream isn't dead, its just that americans forgot what it means and what it takes to get it.