July 31, 2012
HOW’S THAT HOPEY-CHANGEY STUFF WORKIN’ OUT FOR YA? (CONT’D): Financial Times: Jobless generation puts brakes on US. “Youth unemployment has reached crisis levels around the world, with almost 13 per cent of the global youth labour force out of work this year, according to the International Labour Organisation. But the problem has a unique flavour in the US, where the weak job market has collided with record levels of educational debt – about $25,000 for the average graduate. Together, they pose a threat to the future earning power of young Americans such as Mr Grzywacz – and could have long-lasting effects on US growth.”
Or maybe I should call this a higher education bubble update. Read the whole thing. And reader Harry Forbes writes: “The online edition does not have the scary loan debt growth chart that is in the printed edition. It is attached.”
I’m not surprised.