August 2014: Young Adult Unemployment Rate Over 40 Percent Higher Than the National Average

FOR IMMEDIATE RELEASE:

September 5, 2014

Contacts: Colin Seeberger, colin.seeberger@younginvincibles.org, 214.223.2913; Sarah Lovenheim, sarah.lovenheim@younginvincibles.org, 585.746.8281

Millennial Unemployment Rate Over 40 Percent Higher Than the National Average

[WASHINGTON]— As the national unemployment rate fell slightly to 6.1 percent and the economy added 142,000 jobs in August, the unemployment rate for 18 to 34 year-olds dipped slightly to 8.7 percent from 8.8 percent in July (not seasonably adjusted). Here is more information on how different populations of young adults fared relative to the overall workforce in August 2014.

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• The unemployment rate for Black/African American young adults ages 18 to 34 in August is 17.8 percent (not seasonally adjusted).

• The unemployment rate for Hispanic/Latino young adults ages 18 to 34 in August is 9.2 percent (not seasonally adjusted).

• The unemployment rate for white young adults ages 18 to 34 in August is 7.1 percent (not seasonally adjusted).

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Texas: Young Invincibles Testifies on the Importance of Health Coverage for Young Adults

This afternoon, YI’s Rebecca Fowler testified before Texas’ Senate Committee on Health and Human Services about the impact of expanding health coverage to over one million uninsured young adults in Texas. In addition to relaying in-depth research about how who remains uninsured in Texas, she also outlined important information about how being uninsured particularly harms the economic, physical and mental health of young adults.

Rebecca also discussed her personal experience working with young adults who fall in the coverage gap, testifying that “[T]he students I’ve met while touring community colleges in the Houston area would likely have to leave school if they got a big doctor’s bill. Texas can’t afford to let them grow up unable to get the skills needed for today’s jobs.”

Click here to read her full remarks. Want more information on what closing the coverage gap would mean for young Texans? Check out our fact sheet here!

Becky testifying

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Congress Goes on Recess, Ignores Youth Unemployment Crisis

FOR IMMEDIATE RELASE:
August 1, 2014

Congress Goes on Recess As Young Unemployment Rate Continues to Be Over 40 Percent Higher Than the National Average

Rory O’Sullivan, Deputy Director of Young Invincibles, released the following statement on today’s July 2014 jobs report:

“Congress continues to sit on its hands while the Millennial unemployment rate is over 40 percent higher than the national average. Over the August recess, we’re urging young adults to encourage lawmakers to support commonsense legislation like the LEAP Act, which would give more young adults the training they need to land a job in today’s workforce.”

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President Obama Signs Workforce Innovation and Opportunity Act, A Boost For Young Workers and Job-Seekers

FOR IMMEDIATE RELEASE:

July 22, 2014

[WASHINGTON]—Today, President Obama signed the Workforce Innovation and Opportunity Act into law, a bill that reauthorizes and extends funding for job-training programs across the country. Investments help job seekers with anything from resume-building and job searches to more intensive assistance and training for specific skills.

“It’s refreshing to see lawmakers come together around bipartisan legislation at a time when many young adults are still struggling to recover from the Great Recession. Young Invincibles applauds the President for signing this important legislation,” said Rory O’Sullivan, deputy director of Young Invincibles. “The bill will help prepare hardworking young Americans for 21st century jobs, better targeting those who need it most.”

The bill improves comprehensive workforce training and education for young adults across the country by targeting the most vulnerable young adults: those who are not in school and unemployed. The bill also makes small funding increases for these critical programs between 2015 and 2020, though discretionary spending caps could prevent these investments from occurring.

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Young Invincibles is a national organization committed to amplifying the voices of young adults, ages 18 to 34, and expanding economic opportunity for our generation. Young Invincibles ensures that young adults are represented in today’s most pressing societal debates through cutting-edge policy research and analysis, and innovative campaigns designed to educate, inform and mobilize our generation to change the status quo.

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Court Ruling Jeopardizes Subsidies for 1.5 Million Young Adults Under Affordable Care Act

FOR IMMEDIATE RELEASE:

July 22, 2014

[WASHINGTON] – In response to a federal appeals court panel ruling that critical tax subsidies under the Affordable Care Act may not be offered in certain states using the federal exchange, Young Invincibles Executive Director Jen Mishory issued the following statement:

“This flawed ruling threatens access to affordable coverage for the 1.5 million young adults across the country who have enrolled in the federal exchange – and millions more who could enroll in the coming months and years. We urge the Administration to appeal quickly.”

There are currently 1,538,352 young adults, aged 18 to 34, enrolled in health coverage through the federal exchange. The average uninsured 25 year-old earns about $17,800 and qualifies for large subsidies to purchase coverage.

Please be in touch with any questions.

 

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Jobs Report Shows Racial Disparities in Job Market Persist

FOR IMMEDIATE RELEASE:

July 3, 2014

CONTACT:
Sarah Lovenheim, sarah.lovenheim@younginvincibles.org 202–734-6529
Colin Seeberger, colin.seeberger@younginvincibles.org 214-223-2913

“We know that young African Americans get more value from education in terms of improved job prospects, so we must expand educational opportunities for young African Americans”

[WASHINGTON] – Rory O’Sullivan, deputy director of Young Invincibles, issued the following statement:

“While today’s unemployment rate of 6.1% is welcome news for the economy, when you break down the jobs numbers, it’s clear young adults are significantly struggling to enter the job market. Young adults, aged 18 to 34, fared far worse with an unemployment rate of 9% and the disparities by race are even more appalling.

Young African Americans, aged 18 to 34, face an unemployment rate that’s more than twice the rate of their white peers: 16.7% to 7.6%, respectively. We know that young African Americans get more value from education in terms of improved job prospects, so we must expand educational opportunities for young African Americans; bolstering the Pell Grant would be a good first step.”

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Young Invincibles Releases New Report on Racial Inequality in Education, and Its Impact on Job Prospects and Wages

FOR IMMEDIATE RELEASE:

June 25, 2014

CONTACT:

Sarah Lovenheim, sarah.lovenheim@younginvincibles.org 202–734-6529
Colin Seeberger, colin.seeberger@younginvincibles.org 214-223-2913

YOUNG INVINCIBLES RELEASES NEW REPORT ON RACIAL INEQUALITY IN EDUCATION, AND ITS IMPACT ON JOB PROSPECTS AND WAGES

Washington, D.C. – This morning, Young Invincibles released a new report, titled Closing the Race Gap, that takes an unprecedented look at the driving forces behind racial disparities in the job market.

The report finds that young African Americans need two more levels of education than their young white counterparts to have the same chance at employment. For example, young African American adults need to earn an associate’s degree to have the same job prospects as young white adults with just a high school degree. The report also details a series of policy recommendations that Congress should consider as it prepares to reauthorize the Higher Education Act.

Rory O’Sullivan, deputy director of Young Invincibles, said, “We were startled to see just how much more education young African Americans must get in order to have the same chance at landing a job as their white peers. On the other hand, young African Americans receive greater gains in job prospects for each level of education they complete, making it clear that we can reduce racial disparities by increasing access to education for everyone.”

Here’s a chart detailing just how wide the employment gap is for African American young males, compared to white young males, at every level of education.

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Please be in touch with any questions.
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Young Invincibles’ Statement on California Budget Agreement

FOR IMMEDIATE RELEASE:

June 15, 2014

Contact: Riana King, riana.king@younginvincibles.org, 213.221.7326

Young Invincibles’ Statement on California Budget Agreement

Budget Falls Short on Investment in Education and Healthcare for Young Californians

[SACRAMENTO, Calif.]—Today, the California Legislature passed its version of the fiscal year 2014-2015 budget; the $108 billion budget heads to Governor Brown for the final sign off. Linda Leu, California Policy and Research Director at Young Invincibles, issued the following statement:

“We are pleased that this budget includes some important education investments for our generation, but California needs to invest more in programs that support low-income and undocumented young adults. “

“All young Californians, including low-income and undocumented young Californians deserve greater access to health care, more affordable education and help finding a job – all of which California failed to allocate adequate funding for in the budget.”

Here’s an overview of what the budget achieves for young Californians, and where it falls short:

The California FY14-15 Budget:

  • Affirms the Governor’s allocation of $50 million for a Workforce Development Program at California Community Colleges.
  • Reinvests $50 million in both the UC and Cal State systems.
  • Moderately increases the Cal Grant B Access Awards by $175 per student to help the lowest income students afford college. Students can now receive an award of $1,648 per year to help with books and living expenses. This brings the award closer to its intended value of $5,900, if it had been adjusted for inflation.

The California FY14-15 Budget fails to address:

  • The importance of access to health care to young Californians’ economic future by:

o   Rejecting a $23 million grant to expand Medi-Cal enrollment and retention efforts, so that more young Californians that qualify for coverage can sign up and stay covered.

o   Continued disinvestment in the safety net, which is needed to serve the undocumented and other remaining uninsured due to the delay of SB 1005 that would have expanded coverage for undocumented Californians.

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Young Invincibles is a national organization committed to amplifying the voices of young adults, ages 18 to 34, and expanding economic opportunity for our generation. Young Invincibles ensures that young adults are represented in today’s most pressing societal debates through cutting-edge policy research and analysis, and innovative campaigns designed to educate, inform and mobilize our generation to change the status quo.

 

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Statement on the Senate’s Failed Procedural Vote on the Bank on Students Emergency Loan Refinancing Act

FOR IMMEDIATE RELEASE:

June 11, 2014

Contact: Colin Seeberger, colin.seeberger@younginvincibles.org, 214.223.2913

Contact: Sarah Lovenheim, sarah.lovenheim@younginvincibles.org, 585.746.8281

Young Invincibles’ Statement on the Senate’s Failed Procedural Vote on the Bank on Students Emergency Loan Refinancing Act

Bill Would Have Allowed Student Loan Borrowers to Refinance Their Loans, Potentially Saving Them Thousands of Dollars Over the Life of Their Loan

[WASHINGTON]—Today, the US Senate voted to block debate on S. 2432, the Bank on Students Emergency Loan Refinancing Act. The bill would have given student loan borrowers with eligible federal and private student loans the opportunity to refinance their debt at today’s lower interest rates, and would have extended immediate relief for approximately 25 million student loan borrowers.

“With one in seven students defaulting on their debt within a few years of graduating, we are deeply disappointed that the Senate voted to block a measure that would have provided immediate relief to America’s struggling student loan borrowers,” said Rory O’Sullivan, Deputy Director of Young Invincibles. “It is frustrating to watch the Senate refuse to even debate this bill while $1.2 trillion dollars in student debt stifles our generation’s opportunities.”

In a recent letter to House Education & the Workforce Chairman John Kline (R-MN) and Ranking Member George Miller (D-CA), Young Invincibles detailed its priorities for other reforms to our higher education system that would help students. These proposals include:

  • Bolstering the Pell Grants by making funding mandatory
  • Simplifying the Federal financial aid system
  • Reforming the Federal Work Study program
  • Providing students with additional data to ensure they’re making well-informed decisions
  • Providing relief to private loan borrowers
  • Promoting innovation in higher education

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Young Invincibles is a national organization committed to amplifying the voices of young adults, ages 18 to 34, and expanding economic opportunity for our generation. Young Invincibles ensures that young adults are represented in today’s most pressing societal debates through cutting-edge policy research and analysis, and innovative campaigns designed to educate, inform and mobilize our generation to change the status quo. Follow us on Twitter at @YoungInvincible.

 

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Statement in Support of President Obama’s Action to Help Lift Burden of Student Loan Debt

FOR IMMEDIATE RELEASE:
June 9, 2014
Contacts:
Sarah Lovenheim, Sarah.Lovenheim@younginvincibles.org;
Colin Seeberger, Colin.Seeberger@younginvincibles.org
 

Statement in Support of President Obama’s Action to Help Lift Burden of Student Loan Debt
 

WASHINGTON, DC – Rory O’Sullivan, deputy director of Young Invincibles, issued a statement following President Obama’s announcement of executive action to help lift the burden of student loan debt on millions of borrowers across the country:

“We commend President Obama for providing a path towards much-needed financial relief to struggling student borrowers. Our $1.2 trillion student debt crisis will persist unless the government take steps like this to make student debt more affordable.

Under the President’s executive action, five million borrowers with federal student loans can cap their monthly payments at 10 percent of their income. Student borrowers who took out loans before October 2007, or stopped borrowing by October 2011, are in dire need of this relief: more than 1 in 7 student loan borrowers default on their debt within a few years of graduation. We know from our work at Young Invincibles that expanding income-based repayments helps reduce loan default rates.

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