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WB9MCW · 01-04-2010

For young adults, a decade lost?
By SmartMoney >> http://articles.moneycentral.msn.com...cade-lost.aspx

A new survey conducted for the AFL-CIO suggests many American workers under 35 can't manage the basic financial building blocks of an adult life. The union calls the past 10 years a "lost decade" for these young people, during which many fell short on getting their own places, finding stable jobs and saving money for emergencies.

About 31% of survey respondents said they made enough money to pay their bills and set some money aside, but 70% said they did not have enough money saved to cover two months' worth of living expenses. Parents of these young workers know how far they are from making it on their own; one-third are living with their folks.

"Along almost every metric, people under 35 are doing much worse than they were 10 years ago," says Jennifer Jannon, 29, a regional director for Working America, the AFL-CIO's community organization for nonunion workers. "People are literally putting off starting their adult lives because of the conditions they're facing economically," she says.

Jannon says the results should not be interpreted as laziness. "Young people are really yearning to move out on their own to start their adult lives," she says. "(But) they can't find the type of work that supports an adult life."

01-04-2010	#56
WB9MCW Join Date: Dec 2003 Location: McHenry, Il. Posts: 6,607	Re: How old are the ZR-1 owners? For young adults, a decade lost? By SmartMoney >> http://articles.moneycentral.msn.com...cade-lost.aspx A new survey conducted for the AFL-CIO suggests many American workers under 35 can't manage the basic financial building blocks of an adult life. The union calls the past 10 years a "lost decade" for these young people, during which many fell short on getting their own places, finding stable jobs and saving money for emergencies. About 31% of survey respondents said they made enough money to pay their bills and set some money aside, but 70% said they did not have enough money saved to cover two months' worth of living expenses. Parents of these young workers know how far they are from making it on their own; one-third are living with their folks. "Along almost every metric, people under 35 are doing much worse than they were 10 years ago," says Jennifer Jannon, 29, a regional director for Working America, the AFL-CIO's community organization for nonunion workers. "People are literally putting off starting their adult lives because of the conditions they're facing economically," she says. Jannon says the results should not be interpreted as laziness. "Young people are really yearning to move out on their own to start their adult lives," she says. "(But) they can't find the type of work that supports an adult life." __________________ http://i119.photobucket.com/albums/o...9mcw/SIG-2.jpg http://i119.photobucket.com/albums/o128/wb9mcw/vcm.gif "The Budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed, lest Rome will become bankrupt. People must again learn to work instead of living on public assistance." - Cicero, 55 BC " We the people are the rightful masters of both Congress and the courts, not to overthrow the Constitution but to overthrow the men who pervert the Constitution." - Abraham Lincoln