Young Invincibles started out working on health care reform, but the issues facing young Americans are far greater than health insurance coverage alone. Not convinced? Consider the following statistics:
- Those in our generation lucky enough to go to college will accumulate an astounding amount of student debt. Seven in 10 college seniors who graduated in 2012 had student loan debt, and the average amount of debt for those with loans was $29,400.
- Of course, you need a job to pay for all of that debt. However, jobs for young adults aren’t easy to come by. Had our economy maintained its pre-recession levels of employment, more than 3.4 million additional Millennials would be employed. And if we break down the cost of chronically high young adult unemployment for the federal and state governments, each and every taxpayer would liable for about $171 a year!
- Furthermore, the sluggish recovery continues to hurt young adults. Young adult unemployment remains in the double digits, and between 2000 and 2012, the real wages of young high school graduates declined 12.7 percent, and the real wages of young college graduates declined 8.5 percent (adjusted for inflation).
YI is working hard on economic issues that affect our generation and expanding opportunities for all of us.
But we’re just getting started. Stay tuned as we continue to take on the issues that have the biggest impact on young America. There is plenty of work to do.