{"id":8532,"date":"2015-05-27T18:07:08","date_gmt":"2015-05-27T23:07:08","guid":{"rendered":"http:\/\/olduvai.ca\/?p=8532"},"modified":"2015-05-27T18:07:08","modified_gmt":"2015-05-27T23:07:08","slug":"global-youth-unemployment-hits-35-million-as-recent-grads-lean-on-parents","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=8532","title":{"rendered":"Global Youth Unemployment Hits 35 Million As Recent Grads Lean On Parents"},"content":{"rendered":"

Global Youth Unemployment Hits 35 Million As Recent Grads Lean On Parents<\/a><\/h3>\n

We\u2019ve documented the pitiable plight of America\u2019s recent college graduates on a number of occasions over the last several months. The Class of 2015 is officially the most\u00a0heavily-indebted<\/a>\u00a0graduating class in the history of US higher education, as each student will leave college with an average debt load of more than $35,000. These proud new graduates will enter a job market where they\u2019ll quickly discover that the idea of a US economic \u2018recovery\u2019 is, as Steve Wynn recently put it, \u201ca complete dream\u201d. In fact, high unemployment rates among recent graduates was recently cited by Moody\u2019s as a contributing factor to the ratings agency\u2019s decision to place some $3 billion in student loan-backed ABS on review. This state of affairs is made all the more perilous by the fact that nearly half of college graduates\u00a0only manage to land<\/a>\u00a0a low-wage job which, as the OECD has recently shown, likely won\u2019t pay enough to allow one\u2019s family to subsist above the poverty line.<\/p>\n

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Now, the same OECD is out with a new report which looks at the world\u2019s youth unemployment problem in an effort to determine why it is that 35 million people between the ages of 16 and 29 are jobless. Spoiler alert: it turns out $35,000 doesn\u2019t buy a very good education.<\/p>\n

From the\u00a0OECD<\/a>:<\/p>\n

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More than 35 million young people, aged 16-29, across OECD countries are neither employed nor in education or training (NEET). Overall, young people are twice as likely as prime-age workers to be unemployed. \u00a0<\/em><\/strong><\/div>\n

The OECD Skills Outlook 2015 says that around half of all NEETs in the OECD are out of school and not looking for work and are likely to have dropped off the radar of their country\u2019s education, social, and labour market systems (ZH<\/strong>: recall the case of America\u2019s \u201cvanishing worker<\/a>\u201d)<\/em><\/p><\/blockquote>\n

 <\/p>\n

…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

Global Youth Unemployment Hits 35 Million As Recent Grads Lean On Parents We\u2019ve documented the pitiable plight of America\u2019s recent college graduates on a number of occasions over the last several months. The Class of 2015 is officially the most\u00a0heavily-indebted\u00a0graduating class in the history of US higher education, as each student will leave college with […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[5758,2164,5566,824,902],"class_list":["post-8532","post","type-post","status-publish","format-standard","hentry","category-economics","tag-college","tag-oecd","tag-organisation-for-economic-cooperation-and-development","tag-unemployment","tag-youth-unemployment"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8532","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8532"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8532\/revisions"}],"predecessor-version":[{"id":8533,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8532\/revisions\/8533"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}