Return to the Latest

Statement Of Response To New White House Report On How Millennials Fare In Today’s Economy


October 9, 2014

Sarah Lovenheim:; 585-746-8281
Colin Seeberger:; 214-223-2913

Today, Young Invincibles’ Executive Director Jen Mishory released the following statement:

[WASHINGTON] — “We’re thrilled to see the White House focusing on the economic challenges facing Millennials. The report by the Council of Economic Advisors examines the consequences of the Great Recession for our generation, and the findings are troubling.

Here are three commonsense steps to address some of the biggest issues discussed in the report:

1) As our generation grapples with higher college costs, financial aid has not kept up, and more Millennials must take out student loans. Congress should act now to implement solutions to allow all borrowers to repay their student debt based on their income, and act on legislation like the CHANCE act, which bolsters the Pell grants and cuts college costs for millions of hardworking students.

2) Millennial unemployment is nearly 50 percent higher than the national unemployment rate, and the rate among young people of color is far worse. We need investments in programs that provide real career opportunities to young people, like apprenticeships. There is a bipartisan bill in Congress introduced by Senators Cory Booker and Tim Scott that would incentivize employers to hire young registered apprentices to earn an income while gaining on-the-job skills. These commonsense investments in programs that work would help young people get the practical, on-the-job experience they need.

3) The report finds that the Affordable Care Act was a game-changer for our generation, but we still have work to do to ensure that millions of young people access new coverage, and we also know that black and Latino young adults are still disproportionately uninsured. All stakeholders must focus outreach efforts to ensure that all young people across the country know how to access new options for coverage, and states that have not yet done so should expand Medicaid to ensure that millions of the lowest income Millennials can access coverage as they work to build their lives.”