"Recovery
for Whom?" was the name of the article I read out of the four. It talked
the recent recovery that the US economy is going under. Yet there is bit of
confusion about who is the recovery targeting because there are different
generations in the workforce. The older generation the babyboomers are being
helped out the most with the recovery because they have the money. They are the rich and being helped out the most out of
everybody. The poor working class should be helped out more than the rich
because the poorer generations are the ones who have it the worst.
For example,
the millennials, the generation born in the 1980s and 1990s. They are far worse
off than the previous generation; Gen Xers (born in the 1960s and 1970s) were
at that age. Not only that but the generation before Gen X, the babyboomers had
it better than them at the same age. The millennials
have had it rough when entering the workforce for when they entered it the
recession hit. Instead of securing a stable economic future they struggled with
underemployment and unemployment. Many of them had fallen so far behind that it
is almost impossible to catch up.
According to the latest census data, nearly 16 percent of those in their mid-20s to mid-30s were in poverty in 2012, compared with just above 10 percent of Gen Xers in 2000 and baby boomers in 1980. Not only that but nearly 14 percent of that age group were living with their parents which is a higher percentage than the other generations. This only goes to show that the recession majorly affected the younger generation in the workforce.
This only goes to show that there has to be more programs or government involvement to get the young up and running. The recovery should focus more on the young because true prosperity is impossible when the productive potential of young adults is being squandered. The recession set them back a bunch and now they have to play catch up without any support.
According to the latest census data, nearly 16 percent of those in their mid-20s to mid-30s were in poverty in 2012, compared with just above 10 percent of Gen Xers in 2000 and baby boomers in 1980. Not only that but nearly 14 percent of that age group were living with their parents which is a higher percentage than the other generations. This only goes to show that the recession majorly affected the younger generation in the workforce.
This only goes to show that there has to be more programs or government involvement to get the young up and running. The recovery should focus more on the young because true prosperity is impossible when the productive potential of young adults is being squandered. The recession set them back a bunch and now they have to play catch up without any support.
