Top Of My Head

Thoughts on everything from Politics to Video Games

Tag: unemployment rate

Youth Unemployment

This is an actual quote from Mitt Romney from Mitt Romney.com:

“I think this is a time when young people are questioning the support they gave to President Obama three and a half years ago. He promised bringing the country together; that sure hasn’t happened. He promised a future with good jobs and good opportunity; that hasn’t happened. And the pathway that he pursued is one which has not worked. Young people recognize that and I think that’s why they’re going to increasingly look for a different approach.” –Mitt Romney

Below the quote, there are links to the “facts” that support his data.  Two links to the same Time Magazine article written by Josh Sanburn (which I haven’t read) from February of this year,  there’s a couple of links to the Bureau of Labor Statistics website and some more links to articles .

Here’s the thing:  Mitt Romney is hoping that you won’t research any farther than that.  He’s hoping that he can convince you that President Obama hasn’t done enough and he’s handing you little tidbits that support his claim.

So, I did the research myself.  Below is a chart.  This is the annual unemployment rate (seasonally adjusted) from 1948 until 2011. I’ve broken the data down by age: 16 – 24 and over 25.  The third line is the combined annual unemployment rate.  I obtained the data from the Bureau of Labor Statistics site.  (Side note: If you love data, like I love data, you could spend hours on this site running queries!)

Here’s the thing:  Romney is trying to make you think that somehow our youth have it so much worse than the rest of us and President Obama is responsible for it.  However; the truth is that the unemployment rate for 16 – 24 year olds has always been higher than the unemployment rate for the rest of the population.

 

Annual Unemployment 1948 - 2011

Unemployment really just 6.5%?

I saw a very quick blurb in last week’s Businessweek.  I’ve been a little busy, so I’m behind on my reading.  According to the blurb, there are 2.3% of jobs out there that cannot be filled with the right people.  2.3%  — that would bring our unemployment rate down to around 6.5%.

But, why can’t these companies find the qualified people — here are two my quick and dirty off the top of my head ideas.

  • We have a huge disconnect between out secondary education and our business needs.  We need to get business and higher education better aligned.  How we can do that or where we can start — that I don’t know.  But, it’s sad, isn’t it?
  • We have a huge housing problem because qualified people are now locked into homes they can’t sell, so they can move to the jobs.

Anyone else have any ideas?

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