Racial Disparities in the Unemployment Rate Widen Among Millennials, While Economy Adds Jobs


FOR IMMEDIATE RELEASE

July 2, 2015

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

[WASHINGTON] – While the economy added 223,000 jobs last month, the national unemployment rate dropped from 5.5 percent in May to 5.3 percent in June. However, there may be seasonal effects underway, as summer can mark a period of labor force transition.

The unemployment rate for 18- to 34-year-olds dipped slightly, from 7.8 percent in May to 7.7 percent in June, yet racial disparities in the job market widened. The unemployment rate for young black adults jumped from 14.6 percent in May to 15.4 percent in June.

june 2015 jobs numbers

The unemployment rate for young black adults remains disproportionately high.

A Young Invincibles report finds lawmakers can work to narrow racial disparities that persist in the job market by making college more accessible and affordable. Boosting investment in the Pell Grant, for example, could go a long way toward tackling disparities that persist in the economy.

Here are more details on how different populations of young people fared in June 2015:

- The unemployment rate for black/African American young adults ages 18 to 34 is 15.4 percent (not seasonally adjusted) in June, up from 14.6 percent in May.

- The unemployment rate for Hispanic/Latino young adults ages 18 to 34 is 9.3 percent (not seasonally adjusted) in June, up from 8.5 percent in May.

- The unemployment rate for Asian-Pacific Islander young adults ages 18 to 34 is 5.7 percent (not seasonally adjusted) in June, up from 5.1 percent in May.

- The unemployment rate for white young adults ages 18 to 34 is 6.9 percent (not seasonally adjusted) in June, up from 6.3 percent in May.

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Gainful Employment Rule Goes Into Effect, Provides Some Accountability for Students But “Work Is Not Done”


FOR IMMEDIATE RELEASE

July 1, 2015

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

(Washington) — The Department of Education’s gainful employment rule — that was finalized in October 2014 — went into effect today. Rory O’Sullivan, Young Invincibles’ Deputy Director and lead student advocate at the 2013-2014 negotiating table, released the following statement:

“I’m glad to see a rule in place providing some accountability for students and taxpayers but our work is not done. After years of advocating for the strongest protections possible, there are still many schools recklessly recruiting students without delivering a quality education and good career outcomes.”

Please be in touch to speak with a policy expert.

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Young Invincibles Becomes Independent 501(c)(3)



FOR IMMEDIATE RELEASE

July 1, 2015

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

(Washington) — After operating under fiscal sponsorship from Center for Community Change (CCC) for over five years, the Millennial research and advocacy group Young Invincibles spun off on July 1st as its own independent 501(c)(3).

A two-person team forged in 2009 to mobilize support for the young adult-specific provisions of the Affordable Care Act has since transformed into a nearly 50-person organization spanning several states. Young Invincibles has seen many achievements in its first five years, from securing consumer protections for student health plans, to successfully protecting billions of dollars in state and federal investments to help low-income students access college, to educating tens of thousands of Millennials about new health coverage options. YI has also trained hundreds of advocates across the country to speak up and shape political discourse in their community and at the state and federal level.

The group attributes a great deal of its successful growth to the operational support it received from CCC. “YI could not have gotten to this place without the help of CCC,” said Young Invincibles Executive Director Jennifer Mishory. “I’m eternally grateful to the Center for Community Change for giving us that initial shot to make our vision a reality, and the time and guidance to build our operational infrastructure to become our own independent organization. I’m deeply proud of how far we have come, and of the new heights that we will soar to as our own non-profit,” she added.

“CCC has seen YI grow not only in size, but in its impact on a host of important issues and its ability to get things done,” said CCC’s Managing Director Mary Lassen. “CCC has been honored to be with YI from its beginning and we are incredibly proud of the very important and influential organization YI has become.”

While the operational infrastructure will change, YI’s staffing, programming, development, and leadership will remain. Jennifer Mishory will remain at its helm as executive director and Rory O’Sullivan as deputy director. Co-founder Aaron Smith will continue to lead the group’s consulting arm, YI Advisors.

Young Invincibles’ mission is to expand economic opportunity for Millennials. For more information about its work and goals, please visit younginvincibles.org.

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Young Invincibles Celebrates Supreme Court Ruling to Protect Affordable Care: Another Six Million Uninsured Millennials Can Get Covered With Tax Credits


Work Continues to Expand Access for Young Immigrants and Low-Income People

FOR IMMEDIATE RELEASE

June 25, 2015

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

(Washington) — Following today’s Supreme Court ruling on King v. Burwell, Young Invincibles’ Executive Director Jen Mishory released the following statement:

“Today, the Supreme Court upheld the availability of tax credits in all states, a decision that will impact millions of people, but one that we know will disproportionately impact young adults. Millennials are more likely to be low income and qualify for tax credits; now, huge numbers of young people currently enrolled can keep their tax credits, and another six million Millennials who don’t have coverage can enroll and receive that discount.

“Young adults, age 18 to 34 years-old, end up in the emergency room more than any other age group, except the elderly – making today’s ruling essential to our health and financial security.

“Today we celebrate, but our work isn’t over. Some young immigrants and low-income people in states that haven’t expanded Medicaid still lack access to affordable care. Going forward, we’ll continue to advocate to expand access, work to make sure that our generation knows how to navigate the health system, and educate young people on the coverage options that were protected today.”

Please be in touch to speak with a policy expert.

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House Committee Votes to Gut Protections for Students and Taxpayers

FOR IMMEDIATE RELEASE

June 24, 2015

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

(Washington) — Today, the House Appropriations Committee approved a bill that dismantles an important consumer protection for students who attend career colleges, fails to address unscrupulous recruitment practices towards our nation’s veterans, and cuts investments in student financial assistance.

Rory O’Sullivan, deputy director at Young Invincibles and lead student advocate at the Department of Education’s 2013 negotiated rulemaking on gainful employment, issued the following statement:

“On the heels of a court decision that upheld the legality of the gainful employment regulation, we are disappointed to see the House Appropriations Committee vote to gut this important rule. The gainful employment regulation protects both students and taxpayers from fraud and abuse within our higher education system.

“Removing GE right before it has a chance to take effect will expose students to bad actors and continue to waste critical student aid dollars. The 90/10 loophole that lawmakers voted against was created to prevent shoddy programs from profiting off the backs of student veterans, while saddling them with loan debt and worthless degrees. With millions of Millennials suffering the consequences of the Great Recession, now is not the time for Congress to turn its back on students.”

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FY2016 House Appropriations Bill Could Roll Back Student Aid Dollars, Dismantle Critical Consumer Protections

For Immediate Release

June 17, 2015

Contact: Sarah Lovenheim, sarah.lovnhim@younginvincibles.org

The new FY2016 House appropriations bill could roll back $370 million of student aid dollars and dismantle an important consumer protection for students who attend career colleges.

Rory O’Sullivan, deputy director for Young Invincibles and lead student advocate at the Department of Education’s 2013 negotiated rulemaking on gainful employment, issued the following statement:

“The Gainful Employment rule is a hard-won protection for today’s students against predatory practices common in the for-profit college industry, and it’s baffling that Congress would attempt stripping it away. On the heels of Corinthean Colleges closing, Congress should work to enhance accountability at all institutions so that students, families, and taxpayers are not on the hook for poorly performing schools that leave students with worthless degrees and mountains of debt.”

“Make no mistake, the Gainful Employment rule actually saves money; the Congressional Budget Office estimates that GE would prevent $2 billion from being wasted in the next ten years at the worst for-profit college programs.”

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Young Invincibles Issues Statement on So-Called “Fair Value Accounting” Ahead of Senate Committee Hearing

FOR IMMEDIATE RELEASE

June 16, 2015

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

(WASHINGTON) — Ahead of a Joint Economic Committee hearing on so-called “fair-value accounting,” slated for June 17, Young Invincibles’ Policy Director Jennifer Wang released the following statement:

“So-called “fair-value accounting” is far from fair: it’s an accounting gimmick that makes student loans appear more expensive for the federal government than they actually are. ‘Fair value accounting’ prices in risks that do not exist, obscuring the fact that the government makes billions of dollars from the student loan program. Adding phantom costs to federal financial aid is a distraction from discussing increasing investments in higher education and if it moves forward, young people could end up paying the price.”

For more background on how “fair-value accounting” would hurt students, please reference this op-ed by Jennifer Wang in U.S. News and World Report.

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A “Step Toward Justice” for Students at Failing, Deceitful Schools

FOR IMMEDIATE RELEASE:

June 8, 2015
Contact: Colin Seeberger, colin.seeberger@younginvincibles.org, 214.223.2913
[WASHINGTON]–Today, the Department of Education announced new guidelines for managing the debt relief process for students of failing schools like Corinthian Colleges. Young Invincibles’ Deputy Director Rory O’Sullivan released the following in response to the announcement:


“We’re thrilled to see the Department of Education acknowledge that students unfairly taken advantage of by failing schools should be eligible for financial relief. The Department’s announcement today is a significant step toward justice for students of schools like Corinthian Colleges that have misled students about job placement rates and the quality of their programs for years. We hope that students at similar institutions with deceptive practices are eligible for the same relief.”
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Millennial Unemployment Rate Shifts Slightly as Racial Employment Gap Widens Significantly

FOR IMMEDIATE RELEASE
June 5, 2015

 

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

[WASHINGTON] – While the economy added 280,000 jobs last month, the national unemployment rate increased from 5.4 percent in April to 5.5 percent in May. The unemployment rate for 18- to 34-year-olds increased slightly, from 7.5 percent in April to 7.8 percent in May. The unemployment rate for young black adults jumped from 12.0 percent in April to 14.6 percent in May. 

The unemployment rate for young black adults is now roughly twice as high as for young adults overall. A Young Invincibles report finds lawmakers can help narrow racial disparities that persist in the job market by investing in higher education and making college more accessible — and we urge Congress to take action. Here are more details on how different populations of young people fared in May 2015:

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- The unemployment rate for black/African American young adults ages 18 to 34 is 14.6 percent (not seasonally adjusted) in May, up from 12.0 percent in April.- The unemployment rate for Hispanic/Latino young adults ages 18 to 34 is 8.5 percent (not seasonally adjusted) in May, up from 7.9 percent in April.

- The unemployment rate for Asian-Pacific Islander young adults ages 18 to 34 is 5.1 percent (not seasonally adjusted) in May, up from 5.0 percent in April.- The unemployment rate for white young adults ages 18 to 34 is 6.3 percent (not seasonally adjusted) in May, up from 5.9 percent in March.
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Uninsured Millennials, Health Advocates to Unveil Scroll of 13,000 Petition Signatures Urging Speaker Crisafulli Close the Coverage Gap

FOR PLANNING PURPOSES

Contact:
Sarah Lovenheim, sarah.lovenheim@younginvincibles.org, 585-746-8281

[Tallahassee] — On Tuesday, June 2, health advocates and Millennials falling in Florida’s coverage gap will be delivering petitions urging the house to come to an agreement on Medicaid expansion during next week’s special legislative session. Petitions will be delivered to House Speaker Steve Crisafulli’s office, in which they will deliver a scroll of more than 13,000 petition signatures urging the Legislature to close Florida’s health care coverage gap.

Katy Huddlestun, a Florida student of Florida International University and one of 300,000 Millennials stuck in the coverage gap, will lead the procession to the Speaker’s office and share her coverage gap story with Crisafulli’s office. Katy Huddlestun and Christina Postolowski of Young Invincibles will be available for interviews following the petition delivery.

WHAT: Petition delivery to Speaker of the House

WHO: Florida Millennials in the health coverage gap (available for interviews), community and health stakeholders

WHERE: Capitol Building, center of the rotunda, 4th floor

WHEN: Tuesday, June 2, 10:30 am

A recent analysis from Young Invincibles and Florida CHAIN found that Millennials account for about one-third of the low-income residents in Florida’s coverage gap. The brief also suggests that a lack of access to coverage for these young people could threaten the state’s degree attainment goals and consequentially their employment and earnings potential.

Additionally, the Florida Coverage Gap was created by the failure of Florida lawmakers to accept more than $50 billion made available to our state by the Affordable Care Act so that Floridians making around the poverty line or less could get access to affordable health
are coverage. Florida’s decision to leave these people uninsured is costing the state nearly a half billion dollars a year.

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