Fight The Lies: Why Occupy Wall Street Is More Hooverville than Woodstock
October 12, 2011 By Jason Easley
The right and their media have characterized Occupy Wall Street as socialist hippie movement, but with youth unemployment at 24.6%, Occupy is more Hooverville than Woodstock.
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If you want to understand why all of those young people have taken to the streets, all you need to know is that 24.6% of American youths (16-24 year olds) are unemployed. The number of young unemployed people is more twice as high as the Hispanic unemployment rate (11.3%), and eight points higher than African-American unemployment (16%). These young Americans are taking to the streets and pointing the finger at Wall Street, the big financial firms, and the banks because they know who crashed the economy. The unpunished criminal activity of the banks and Wall Street are the reason why they can’t get a job.
For the first time since the Bureau of Labor Statistics started collecting data in 1948, less than 50% of young people are employed. For young Americans, this isn’t a recession. It’s a depression. Unemployed college grads are not only facing non-existent employer demand, but they also are in competition with the constant stream of new graduates entering the labor force. Would an employer rather hire a freshly graduated 21 year old with no experience, or an older grad with no experience that has spent years looking for a job?
http://www.politicususa.com/en/occupy-wall-street-hooverville