Stanley Fischer, Vice President of The United States Federal Reserve, is recently on record saying that the U.S. job market is very close to full strength. Despite this so called "rejuvenation," people are still having trouble making ends meet, in particular Millennials. In its most recent jobs report, Fortune.com noted that Millenials were the only age group to actually lose jobs over the first half of 2016. Many Millenials aged 20 to 24 have college degrees, yet they’re still living at home, dependent on their parents for financial support. Even the young Millenials who do have jobs are living at home.
As long as Millenials are struggling to find jobs, the American economy has not fully recovered. Sure, there have been recent signs of economic growth and prosperity in the United States. Many politicians are lobbying, for example, to raise the minimum wage, which is a good start, but simply that—a start—that currently faces great opposition from figures such as Chris Christie, governor of New Jersey, who recently vetoed a bill proposing that the minimum wage be raised to $15 per hour. His justification for the veto was that the wage increase was “really radical.” Regardless of how much they earn, people working for the minimum wage are rarely employed full time, thereby disqualifying them from receiving company benefits such as health insurance and pension plans.
Job market growth is not only a problem in America—it’s a worldwide epidemic. In Italy, for example, the job market has been so terrible that men aged 18 to 34 are known as “mammoni” which is Italian for “mamma’s boys.” Mammoni live at home because they can’t afford to pay rent. Their mothers cook for them and wash their clothes which helps them cut expenses. And when these men get married, their marriages often end in divorce due to complications caused from the intensity of their mother-son relationships. Similarly, the birth rate in Italy is declining each year because Italians literally can't afford to have children, a fact that has prompted economists, as well as anthropologists, to label Italy "a dying country."
A common result of economic uncertainty is societal destabilization which often leads to radicalism. Terrorist groups such as ISIS make a concerted effort to recruit from marginalized populations with low employment rates and low incomes. The Islamic community in Paris, for example, is commonly known to be alienated from French society both socially and economically. Let’s put aside the complex social ramifications of being Islamic in France and focus on the economic situation of French Muslims. To be frank, the majority of them are struggling financially. They live in ghettoes that are socially and physically segregated from the French population. These ghettoes have poor education systems and perpetuate a very low quality of life. The crime rates in these ghettoes are high relative to the rest of France. The Muslims who populate these ghettoes often feel powerless, and perhaps rightly so. People who feel powerless become alienated and angry. And as France knows, the alienated and angry can resort to violence.
We face the same problems in the United States. Recently, there’s been much controversy with respect to the manner in which African Americans are treated by police. Many African Americans in the United States, like Muslims in Paris, live in segregated communities with high crime rates. This general sense of unrest building within the United States is evidenced by the political establishment. Donald Trump's election to the presidency is a manifestation of America's anger and confusion. Every thing he says--every tweet--is a polarizing spark plug for controversy.
The Republican party is certainly divided, but even the Democratic party is facing upheaval. Bernie Sanders--a self proclaimed socialist--posed a legitimate threat to win the Democratic nomination for president. Bernie Sanders' popularity was particularly prominent amongst Millenials who sense the need for dire change. Millenials, both the employed and unemployed ones, are the torch bearers for the United States. We need to ensure that Millenials, and everybody else for that matter, have the available means to support themselves. Menttes.com has been created for this purpose.
Now, it would be unrealistic to think that one website can solve such deep rooted and complex problems. We’re not expecting to re-invent the wheel here. But we’d like to do our part—however small—in helping the world become a more peaceful and happy place. There are many ways to earn a stable income for yourself. The key is taking action. But without proper knowledge, action rarely yields favorable results. Menttes.com hopes to provide you with that proper knowledge.
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