30 Statistics About Americans Under The Age Of 30 That Will Blow Your Mind

Young Adults - Photo by Linda Goldstein, reporter for IIT Tech NewsWhy are young people in America so frustrated these days?  You are about to find out.  Most young adults started out having faith in the system.  They worked hard, they got good grades, they stayed out of trouble and many of them went on to college.  But when their educations where over, they discovered that the good jobs that they had been promised were not waiting for them at the end of the rainbow.  Even in the midst of this so-called “economic recovery”, the full-time employment rate for Americans under the age of 30 continues to fall.  And incomes for that age group continue to fall as well.  At the same time, young adults are dealing with record levels of student loan debt.  As a result, more young Americans than ever are putting off getting married and having families, and more of them than ever are moving back in with their parents.

It can be absolutely soul crushing when you discover that the “bright future” that the system had been promising you for so many years turns out to be a lie.  A lot of young people ultimately give up on the system and many of them end up just kind of drifting aimlessly through life.  The following is an example from a recent Wall Street Journal article

James Roy, 26, has spent the past six years paying off $14,000 in student loans for two years of college by skating from job to job. Now working as a supervisor for a coffee shop in the Chicago suburb of St. Charles, Ill., Mr. Roy describes his outlook as “kind of grim.”

“It seems to me that if you went to college and took on student debt, there used to be greater assurance that you could pay it off with a good job,” said the Colorado native, who majored in English before dropping out. “But now, for people living in this economy and in our age group, it’s a rough deal.”

Young adults as a group have been experiencing a tremendous amount of economic pain in recent years.  The following are 30 statistics about Americans under the age of 30 that will blow your mind…

#1 The labor force participation rate for men in the 18 to 24 year old age bracket is at an all-time low.

#2 The ratio of what men in the 18 to 29 year old age bracket are earning compared to the general population is at an all-time low.

#3 Only about a third of all adults in their early 20s are working a full-time job.

#4 For the entire 18 to 29 year old age bracket, the full-time employment rate continues to fall.  In June 2012, 47 percent of that entire age group had a full-time job.  One year later, in June 2013, only43.6 percent of that entire age group had a full-time job.

#5 Back in the year 2000, 80 percent of men in their late 20s had a full-time job.  Today, only 65 percent do.

#6 In 2007, the unemployment rate for the 20 to 29 year old age bracket was about 6.5 percent.  Today, the unemployment rate for that same age group is about 13 percent.

#7 American families that have a head of household that is under the age of 30 have a poverty rate of 37 percent.

#8 During 2012, young adults under the age of 30 accounted for 23 percent of the workforce, but they accounted for a whopping 36 percent of the unemployed.

#9 During 2011, 53 percent of all Americans with a bachelor’s degree under the age of 25 were either unemployed or underemployed.

#10 At this point about half of all recent college graduates are working jobs that do not even require a college degree.

#11 The number of Americans in the 16 to 29 year old age bracket with a job declined by 18 percent between 2000 and 2010.

#12 According to one survey, 82 percent of all Americans believe that it is harder for young adults to find jobs today than it was for their parents to find jobs.

#13 Incomes for U.S. households led by someone between the ages of 25 and 34 have fallen by about 12 percent after you adjust for inflation since the year 2000.

#14 In 1984, the median net worth of households led by someone 65 or older was 10 times larger than the median net worth of households led by someone 35 or younger.  Today, the median net worth of households led by someone 65 or older is 47 times larger than the median net worth of households led by someone 35 or younger.

#15 In 2011, SAT scores for young men were the worst that they had been in 40 years.

#16 Incredibly, approximately two-thirds of all college students graduate with student loans.

#17 According to the Federal Reserve, the total amount of student loan debt has risen by 275 percent since 2003.

#18 In America today, 40 percent of all households that are led by someone under the age of 35 are paying off student loan debt.  Back in 1989, that figure was below 20 percent.

#19 The total amount of student loan debt in the United States now exceeds the total amount of credit card debt in the United States.

#20 According to the U.S. Department of Education, 11 percent of all student loans are at least 90 days delinquent.

#21 The student loan default rate in the United States has nearly doubled since 2005.

#22 One survey found that 70% of all college graduates wish that they had spent more time preparing for the “real world” while they were still in college.

#23 In the United States today, there are more than 100,000 janitors that have college degrees.

#24 In the United States today, 317,000 waiters and waitresses have college degrees.

#25 Today, an all-time low 44.2 percent of all Americans between the ages of 25 and 34 are married.

#26 According to the Pew Research Center, 57 percent of all Americans in the 18 to 24 year old age bracket lived with their parents during 2012.

#27 One poll discovered that 29 percent of all Americans in the 25 to 34 year old age bracket are still living with their parents.

#28 Young men are nearly twice as likely to live with their parents as young women the same age are.

#29 Overall, approximately 25 million American adults are living with their parents according to Time Magazine.

#30 Young Americans are becoming increasingly frustrated that previous generations have saddled them with a nearly 17 trillion dollar national debt that they are expected to make payments on for the rest of their lives.

And this trend is not just limited to the United States.  As I have written about frequently, unemployment rates for young adults throughout Europe have been soaring to unprecedented heights.  For example, the unemployment rate for those under the age of 25 in Italy has now reached 40.1 percent.

Simon Black of the Sovereign Man blog discussed this global trend in a recent article on his website…

Youth unemployment rates in these countries are upwards of 40% to nearly 70%. The most recent figures published by the Italian government show yet another record high in youth unemployment.

An entire generation is now coming of age without being able to leave the nest or have any prospect of earning a decent wage in their home country.

This underscores an important point that I’ve been writing about for a long time: young people in particular get the sharp end of the stick.

They’re the last to be hired, the first to be fired, the first to be sent off to fight and die in foreign lands, and the first to have their benefits cut.

And if they’re ever lucky enough to find meaningful employment, they can count on working their entire lives to pay down the debts of previous generations through higher and higher taxes.

But when it comes time to collect… finally… those benefits won’t be there for them.

Meanwhile, the overall economy continues to get even weaker.

In the United States, Gallup’s daily economic confidence index is now the lowest that it has been in more than a year.

For young people that are in high school or college right now, the future does not look bright.  In fact, this is probably as good as the U.S. economy is going to get.  It is probably only going to be downhill from here.

The system is failing, and young people are going to become even angrier and even more frustrated.

So what will that mean for our future?

Please feel free to share what you think by posting a comment below…

Michael T. Snyder is the Editor of The Economic Collapse Blog.

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12 Responses to 30 Statistics About Americans Under The Age Of 30 That Will Blow Your Mind

  1. Debbie says:

    That has got to be the most depressingly bit of truth I have read all week. I am 57 married to a paralyzed veteran. I have a 24 year old son who is finishing his last semester and a 22 year old unwed daughter who has a 1 & 2 year old. Our son has kept a full time job while being a full time student. Our daughter has had to drop out of work or school due to tough pregnancies. Her trade has been to learn bartering on Craig’s list. She and her boyfriend have been able to scrape by with help from Us, the only grandparents with income. Our son will be moving home in December after school. Wonder how long it will be before he is able to find work or how far he will have to move away to be employed?

    I was about in our resort village this week and noticed that half the homes are up for sale on some streets. There is few jobs locally and tourism is down due to no jobs elsewhere. Now they are strapping the citizens with mandatory health care. These are definitely the worst of times.

  2. Mac says:

    The Republican Party is surely missing the boat on this one.

    They’re pandering to Hispanics – who’ve already taken a bite out of the socialist crap sandwich – AND LIKE WHAT THEY TASTE….. – too bad, but the Democrats were so successful in destroying the black family – an entire race is about to make the same mistake….

    – INSTEAD – they should be going after the youth vote – and it couldn’t be any easier than RIGHT NOW….

    …. simply tell ‘em why they can’t get a good job = Democrats are killing CAPITALISM with high taxes, onerous regulation and insane spending on entitlements.

    …. VOTE DEMOCRAT = GET DETROIT

  3. Brian says:

    I’ll just share my current life here. I graduated in 2012 and worked to join the USMC from sophomore year on. After graduation they dropped me. I lived at my moms house with my long time girlfriend until about 3 months ago. I worked on the freight team at the Home Depot. Earned $600 a month after taxes. I moved away a few months ago and got licensed to sell health insurance and now I work for Humana. Me and my girlfriend are renting our own place. Right now I do work full time but my contract ends in December and I probably won’t get a new one. I earn 1800 a month but I haven’t been able to put any away since life is more expensive than I expected. Due to the extreme cost of college I decided against getting a degree for now. I think things are going to get really bad really fast in America and we aren’t prepared. Obama has screwed this generation.

    • Mac says:

      Get a degree – NOW….

      I never got my 4yr….. an Associates gets you NADA….

      I’m 56 – raised my daughter solo – put her through college (6yr plan – OUCH) – had my own business…. lost the business, home, everything…. now independent sales rep for several industrial machinery lines…. no sales = no pay…..

      I see first hand how bad it is – and it’s getting worse.

      Not surprised, as O’bastard said our “free enterprise capitalist system doesn’t work”… you know – the thing that made this the greatest nation ever on earth….

      … and he may just irrevocably damage our private sector within a few more years of his Marxist BS….

      They can never take away a Bachelors Degree…. – and quite frankly, it matters not what the damn thing is in (-sure, sciences are the best financially…) –

      But I’m stuck with no salary because no one is going to higher an aging overweight sales rep with a bad back.

      I made my bed – and will lie in it…. don’t ask for any hand outs…. sure, I lost everything – except my dignity and honor….

  4. bigfoot says:

    I know many in this boat, some through no fault of their own. Some because they were lured to colleges by hire-ability rates and left with debt instead. Some places don’t like to hire college grads, because they assume they won’t stay long and will continue looking. I have also seen some for whom nothing is quite good enough, so they just don’t get a job.

    I feel humbly blessed though that those of mine who have left the nest are reasonably employed. Two share an apartment, including the income of the one’s spouse, in order to have a decent place in a safer area. The young couple both have college debt to pay off, so they are blessed to have jobs. They don’t have huge incomes. One went to school and actually works in the field studied. The other did not go to college and actually makes more money, having persisted by returning to the place she hadn’t heard from to see if the position was filled, and then rose to a lower management position within a year. They are willing to excel at blue collar work, and they have plans, hopes, side jobs, and dreams for the future they are actively pursuing.

    One thing I have heard them say, as they are all glad but a little bewildered that they seem to do better than many peers, is that many young people don’t have a clue how to handle their manners and responsibilities in public, let alone a workplace setting. I have heard my other child still in college say that she was shocked, when working this summer at a local department store, at how many, not just young people but adults as well, avoid working. They do as little as they can get by with without getting yelled at, hide, text, and disappear after lunch; many don’t lose their jobs over these things, so it is allowed to continue and treated almost as “normal”.

    My kids are good kids, they are all smart, but they are also normal, video game enjoying, busy, occasionally money wasting young people.

    There you go… derive some conclusions from that.

    There are many facets to the problem and its causes; whatever they are, the important thing is to find solutions.

  5. Gaylon says:

    You can attribute this decline in opportunity for the young to two factors:

    1) Government. Government policies which require employers to give certain benefits to full-time employees has backfired, and caused too many entry-level jobs to be only part-time jobs. As a result, youth don’t experience full-time employment at an early age as their parents did. They give up on the idea that they can become independent.

    2) Government. The government is more anxious to get votes from illegals entering the country than they are to hold the entry level jobs for young Americans. For decades, the government has only half-heartedly enforced the borders, and many states are doing all they can to treat illegals better than citizens. This influx of illegals is sucking away jobs from young adults.

    And yet the young adults vote primarily for those politicians who work most vigorously to implement the two problems listed above. Go figure. They will reap what they have sown.

  6. Rachel Williamson says:

    This article speaks the truth for our family. Our daughter and son in law are in the their 20’s, both with college educations, and can only get jobs at 25-30 hours per week. It’s very hard to find two such jobs that can be commuted and worked with a family that includes a 3 year old. Meanwhile my husband and I help them out with our SS as best we can. What will it take for them to be able to have a future.

    • Dean Garrison says:

      Rachel I have five kids ages 0-10 and I fear what you are talking about. I am 44. I got a late start in life. But I know people just from my own circle that fit the bill, and we are of course in our 40s. I have a friend with a dual degree in economics and business administration who has been a career temp worker since graduating from Washburn University in 1992.

      • bigfoot says:

        I know what you mean. Even though my older kids seem to be doing well, I have two Caucasian sons nearing the end of high school. Both want to go to college, but I am starting to wonder if that is the best route right now. Possibly they should just get working hard and do the best they can educating themselves rather than us and them being out tens of thousands of dollars. We’ll have to look into some creative approaches for sure.
        Blessings on you and your children’s futures.

  7. Pirate says:

    And they are mostly likely to be Obama voters.. Go figure. Sounds like that hope and change is working great for them. Factoid 31… Their insurance premiums will rise significantly. Factoid 32… If they don’t have insurance they I’ll have to buy it.

    • Patrick D says:

      The ‘facts’ alone do not reveal the essence of the story. These young people have been misled, many went to college on borrowed money to earn degrees that are often of little or no value. Today’s college degree can be what high school degrees were a couple of generations ago. We are shocked that people with college degree labor as janitors – there is good reason why these are the jobs available to them!

      Our young people lack a strong work ethic. Our young people are addicted to drugs, sex alcohol and internet porn. They probably have not been in a church since they were in grade school.The boys walk a thin line between being boys or being wimps; the girls are aggressive and are ready for a ‘hook-up’ as diversion from their unsatisfying lives and the boys jump at the easy path to self-gratification for which there is no corresponding obligation.

      We have given them the vote at 18, but facilitate a dependency on mom and/or dad until 26; no wonder they are in a quandary about taking control of their lives or falling into the trap of ever increasing dependency – they have had no exposure to the concept of sell-sufficiency and that creates ready acceptance of the ‘hope-and-change’ offered by purveyors of collectivism. The lure of free cellphones, foodstamps and all the other things nanny-government offers is a s great as the lure of crack cocaine.

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