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Last Updated: 08/20/14 9:37 AM CST

20 Signs That The U.S. Poverty Explosion Is Hitting Children And Young People The Hardest

TheEconomicCollapseBlog.com

AUTHOR Michael Snyder

United States National Debt

The mainstream media continues to insist that the economy is “getting better”, but the poverty numbers for children and young people just continue to explode.  For example, did you know that the poverty rate for families with a head of household under the age of 30 is a whopping 37 percent?  Children and young people sure didn’t cause our recent economic downturn, but they sure are getting hit the hardest by it.  According to the U.S. Department of Education, for the first time ever more than a million U.S. public school students are homeless.  That seems like an impossible number, but it is actually true.  How in the world could the “wealthiest nation on earth” get to the point where more than a million children can’t count on a warm bed to sleep in at night?  Sadly, a huge number of American children can’t count on a warm dinner either.  About a fourth of them are enrolled in the food stamp program.  What do you do if you are a parent in that kind of situation?  How do you explain to your kids that you can’t afford a nice home like everybody else has or that you can’t afford to go to the grocery store and buy them some dinner?

Young people are experiencing very rough times right now as well.  If you are under the age of 30, it is really, really difficult to get a job in America today.  The competition for the few decent jobs that seem to be available is absolutely crazy.  Unemployment among young people is at a level that we have not seen since World War II, and this is causing major problems.

Even if you do have a college degree, there is no guarantee that you will be able to get any type of a job.  In fact, more than half of all college graduates under the age of 25 were either unemployed or underemployed last year.  There are millions of very talented college graduates that are waiting tables, making sandwiches or stocking shelves down at the local branch of a global retail conglomerate.  Meanwhile, they are saddled with record breaking amounts of student loan debt.

This is easily the worst economic environment that we have seen for young people since the Great Depression of the 1930s.  The number of good jobs continues to decline.  Many young people are faced with the choice of taking a bad job or having no job at all.

If you are under 30 in America today, you better hope that you come from a wealthy family or that you have some really good connections, because otherwise the future looks pretty bleak for you.

The following are 20 signs that the U.S. poverty explosion is hitting children and young people the hardest…

1. If you can believe it, a higher percentage of children is living in poverty in America today than was the case back in 1975.

2. More than one out of every five children in the United States is currently living in poverty.

3. According to U.S. Census data, 57 percent of all American children live in a home that is either considered to be “poor” or “low income”.

4. Median household income for families with children dropped by a whopping $6,300 between 2001 and 2011.

5. For the first time ever, more than a million public school students in the United States are homeless.  That number has risen by 57 percent since the 2006-2007 school year.

6. It is being projected that half of all American children will be on food stamps at least once before they turn 18 years of age.

7. One university study estimates that child poverty costs the U.S. economy 500 billion dollars each year.

8. The 18 to 24 age group has a higher unemployment rate than any other age group in the United States.

9. Young adult employment is now at the lowest level that we have seen since World War II.

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

11. Families that have a head of household under the age of 30 have a poverty rate of 37 percent.

12. Family homelessness in the Washington D.C. region (one of the wealthiest regions in the entire country) has risen 23 percent since the last recession began.

13. Since the year 2000, incomes for U.S. households led by someone between the ages of 25 and 34 have fallen by about 12 percent after you account for inflation.

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. During 2011, 53 percent of all Americans…

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