New census data recently revealed states that Americans between the ages of 20 and 40 have become a “lost generation” of unemployed and underemployed.
The once American dream of going to college, obtaining a degree, finding a career, and making it on your own, is now gone. The Associated Press says that only 2.4% of college graduates find a job that motivates them enough to move out of the state they grew up in. The other 97.6% of graduates will move back home and live with their parents. It is estimated that 5.9 million members of this so-called “lost generation” will finish school, and move back in with their parents. That number is 25% more than during the last recession the U.S. went through.
The even more frightening aspect of all this is that only 55.3% of this generation will ever start a career. Most will continue to work various odd jobs, just like they did when the first left school. That being said, the entire American process of growing up, getting married, buying a house, and having kids is delayed. Marriage among the “lost generation” has reached a new low of 44.2%, and homeownership fell from 67.3% in 2006 to 65.4% in 2010.
On top of all this, economists have squashed the idea of “things will get better soon”, by claiming that this trend will continue for at least the next ten years, and when it’s finally over, it will take another ten years for this generation to fully recover.
When the “lost generation” is finally “found” again, they will be older, but none the wiser, as they will have little experience and absolutely no assets to speak of.
Many experts believe that we may be headed for another recession. Don’t enter a second recession with piles of debts. I can counsel you on your debts. I am sure that I can be of assistance to you, a family member or a friend as we all know someone experiencing trouble these days even if we are not experiencing our own financial troubles. Please do not hesitate to make contact with me. I emphasize courteous and discrete consultations packed with plenty of information. The life impact of meeting with me in person will be unforgettable. You will enjoy a new peace of mind and a fresh hope for the future with a new roadmap for financial success that we develop together. You can email my scheduler through our website for your free 30 minute consultation at www.washingtonbankruptcy.com or e-mail directly at [email protected] To schedule immediately, we can be reached at 253-383-1001 M-Th 9am-5:45pm and Friday 9am – 12pm.