College graduates can’t find work. According to a recent BLS chart, 16% of graduates and 12% with advanced degrees were unemployed.(1) Others are working, but can’t find work commensurate with their qualifications. In 2012, over 10% of those employed, nearly 300,000 college graduates, including 37,000 with advanced degrees, were working in minimum wage jobs as waiters, bartenders, baristas, etc.(2) This is double the numbers under Bush in 2007.
College graduates have an average student loan debt of nearly $27,000. Obama now controls student loans and has mandated they cannot be forgiven in bankruptcy. Earning minimum wages, you will never retire that debt. You must continue to pay interest and principal on student loans until you die.
Blacks have even more difficulty finding jobs. Blacks without diplomas have an unemployment rate of over 50%! (3,4) With a high school diploma, their unemployment rate is still an astronomical 26%!! Obama claims to love blacks, but has done nothing to create jobs for them in the inner cities. Just look at Detroit and Chicago, his hometown!
Young people under 25 also have an unemployment rate of 24%.(5) America’s unemployment is almost the same as in Greece, Cyprus and Spain, which are now recognized as failed countries.
Obama and his flunkeys constantly fudge the numbers. They say unemployment decreased from 7.9% in January to 7.7% in February; and brag that the economy created 88,000 jobs in March 2013.(6) But they ignored the 663,000 discouraged people who stopped looking for jobs.
Over 90 million people are now unemployed. With a population of 315 million today, we only have the same number of jobs we had in 1979, when our population was only 222 million. Nearly 100 million more people but only the same number of jobs!! This is nothing to brag about. It is a disgrace.
The correct way to look at unemployment is to include the unemployed, those who are underemployed (like graduates working as waiters) and those who have given up looking. This number is 25%, meaning one in four people cannot find work!!(7)
The job market is depressed because of Obama’s economic policies. He has squandered billions on his green energy cronies without creating jobs.(8) $2.8 Billion for Ivanpah, but it will hire only 80 workers!! His Trillion-dollar “stimulus” only stimulated wealth for his cronies, but did not create jobs. He never stops taxing and spending but doesn’t care about massive fraud and waste. His constant vituperation of the “rich,” (meaning those who create jobs) and massive increases in regulations and taxes makes it impossible for small businesses to survive. Add Obamacare and its 32 new taxes and you can understand why private businesses won’t expand or hire more workers.
Another reason for lack of jobs is that low-skilled jobs are being taken by illegals willing to work for much less than Americans. Liberals blame American businesses for hiring illegals; but they are silent about their own illegal nannies and gardeners.
There are two solutions to this problem. Either Obama could stop demonizing job creators; stop wasting money; reduce crippling regulations; reduce taxes; and work with the private sector to create jobs. And he could enforce our border and make sure illegals aren’t taking jobs away from American citizens. Or he could do the opposite.
Given how hard it is for our young people to find jobs; does it make sense for Obama to keep destroying small businesses? Considering how much more difficult it is for those with less education; does it make sense for Obama to insist on handing their jobs to 15-20 million illegals?
- http://money.cnn.com/2012/07/06/news/economy/black-unemployment- rate/index.htm
- 9/11 Stealth Jihad & Obama, Chapter 4 – Green Energy Loans to Cronies. P 43-60