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Mar 15

Red Alert launches ‘Millennials Misery Matrix’ tracking Gen-Y struggles – Red Alert Politics

A key component of Red Alert Politics’s mission is to inform the next generation about the political issues that will shape our future.

 Beyond our stories, we wanted to create a visualization to remind readers, newsmakers, and candidates about the unprecedented economic challenges facing young Americans.

Here are the statistics that make up the Millennials Misery Matrix, and why we chose them:

Youth Unemployment

While youth unemployment has fallen in the last couple years statistically, the rate is still double the national average. Many millennials gave up looking for work and went back to school, while others settled for lower-paying jobs outside their fields. 

Average Graduating Student Loan Debt

A college education no longer means a significantly better chance at success, yet the cost of a degree has skyrocketed. In all major millennial polls, loan debt is a top concern. Since President Obama nationalized the student loan industry, this growth has only further spiked.

YAF’s Youth Misery Index

Young America’s Foundation developed the Youth Misery Index to combine what they see as the biggest economic factors facing millennials: Youth unemployment, average graduating college debt, and national debt per capita. This combination is a strong illustration of the multi-faceted burden on Generation-Y. Not only do they face unemployment and college debt, but they will also inherit the payments for the national debt.

National Debt

Speaking of the national debt, it also made the Matrix. While numbers in trillions can be hard to quantify, what isn’t hard to understand is that our annual interest payments on the debt will be bigger than our annual spending for the Department of Defense in 2021. We’re bankrupting ourselves just paying the interest payments on the debt, much less the principal.

Median Income

Young workers are making the same wages as they did 30 years ago — while every other demographic has seen growth. Despite some economic recovery, median income for young Americans hasn’t improved.

Percent in poverty

One-in-five young Americans lives in poverty — do most Americans realize that? Fewer young people have access to the American Dream because of the economic policies and realities of the last eight years.

Our question to candidates will continue to be: What will you do to help fix these problems?

So far, we have heard very little substance — beyond comical promises for ‘free’ college. Hopefully, the Millennials Misery Matrix will help start a meaningful conversation.

Source: Red Alert launches ‘Millennials Misery Matrix’ tracking Gen-Y struggles – Red Alert Politics

Notice: This website is a repository for our posts that go out to the world, but is not used as out primary messaging medium. The absolute BEST way to reach us, and follow our posts, is on LinkedIn. We have a group there, entitled The Workforce Productivity and Compensation Institute, and you are welcome to visit and interact with us there. To visit the group, go to: https://www.linkedin.com/groups/8567153/

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