The following article is devoted to Today’s Youth & Their Growing Economic Knowledge.
Why Todays Youth Have More Economic Knowledge Than Their Parents Did
The current recession is taking a toll on Americans from all walks of life. It’s today’s youth, though, that is affected by the economy at an alarming rate, and is the first generation In 100 years that are not better off than their parents. That fact has allowed for those in their teens, 20s and 30s to really start paying attention when it comes to the economic situation at hand.
The most important thing for those starting out in the world is to get a job that pays the bills. Unfortunately, those are hard to come by. Today’s youth is suffering from a much higher unemployment and underemployment rate, which can have a negative long-term effect on their wages. The recession is also making is much harder for young people to attend college.
Those lucky enough to attend and graduate are likely to be saddled with mountains of debt before the even go on their first job interview. That said, the recession is forcing many teens to rethink their career choices after high school. During times of economic downturn, those less financially sound are more inclined to enter the workforce rather than college.
In America, each generation has tried to have a better life than their parents, with a better living standard, better home, better education. Unfortunately, the window for that to happen today is getting smaller and smaller. However, today’s stagnant wages, job insecurity, decline in employer-sponsored health insurance and other benefits, rapid increase of basic expenses, soaring debt and minimal savings, it’s become almost impossible.