By a margin of greater than 2-to-1 in 2008, voters under 30 backed Barack Obama over John McCain. Investors Business Daily offer up the grim statistics:
The unemployment rate among 18-to-24 year olds was 16.3% at the end of last year, compared with 8.8% for the rest of the working-age population. That gap in unemployment rates, the Pew study notes, is “the widest in recorded history.”
Meanwhile, the share of this population that’s managed to find work has fallen to 54.3% — the lowest level since 1948, the first year the government started collecting such data.
And they’re just getting started. Default rates on student loans have climbed. Many twentysomethings have taken unpaid work. Others have returned home to live with their parents.