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Latina Lista: News from the Latinx perspective > Palabra Final > Economy > New organization targets help for Millenials in tough economy

New organization targets help for Millenials in tough economy

LatinaLista — There are 80 million Millenials in the United States.
What’s a Millenial? Well, it’s another name for the Gen Y group. It’s those young people born roughly in the mid 80’s to early 90s who are now finding themselves either as high school or college graduates.

Yet, unlike those who came before them, except for maybe their grandparents or great-grandparents, Millenials are facing a very tough job situation — especially if they are Latino/a.

A new Employment Situation Summary from the Bureau of Labor Statistics showed that Hispanic unemployment for 20-24-year-olds was at 16.5% for May 2009, a nearly 3% increase from last month’s figures.
In the 16-19-year-old bracket, the numbers are even more alarming, with Hispanic unemployment reaching 31% in May 2009, almost 4% higher than April’s numbers.

This news isn’t very good for young Hispanic Millenials when the average Millenial has over $2000 in credit card debt by age 24, and 30% of them are uninsured. To top it off, Millenials entering the workforce are competing with older workers who have more experience than they do and who are just as desperate to find work.
A new organization called 80 Million Strong wants to help Millenials get jobs, have health insurance and graduate without being so deep in debt. Their goal is to convene a July summit of young people in Washington DC to discuss the problems facing Millenials, develop federal legislation based on the summit’s recommendation and create a grassroots coalition that empowers Millenials.
Definitely a tall order but much needed — and there’s no better generation who can roll up their sleeves and get the work done!

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