As of December 2012, the non-seasonally adjusted (NSA) youth unemployment rate for 18-29 year-olds is an astounding 11.5%. However, the declining labor force participation rate has created an additional 1.7 million young adults that are not counted as “unemployed” by the U.S. Department of Labor because they are not in the labor force, meaning that those young people have given up looking for work due to the lack of jobs. If the labor force participation were factored into the 18-29 youth unemployment calculation, the actual 18-29 unemployment rate would rise to 16.3% (NSA)! At the same time, the overall unemployment rate is a staggering 7.8%. But while both of these numbers are alarming, they do not come close to capturing thefull impact of the weak labor market on Americans.
Government deficits are amounts of money by which government revenues fall short of spending. Debt, on the other hand, is simply an amount owed to a creditor, like another country or the taxpayer.
Most Americans cannot help but be affected by the rapid economic growth in other economies around the world, particularly in India, Eastern Europe, and China.
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The quality of America’s education system has a direct impact on the future success of the children it is set up to serve and ultimately on our nation’s ability to sustain a cutting-edge workforce that is able to compete in the world economy.
America needs a consistent and realistic approach to energy. People across the country are hurting as the price of energy continues to rise. Hefty prices at the gas pump are forcing Americans not to drive as frequently or to explore other means of travel.