Nebraska has one of the nation’s lowest unemployment rates, clocking in just behind North Dakota at 3.9 percent. But that’s not stopping an epidemic of young people in Lincoln, Nebraska from falling into dependence on unemployment benefits. According to the Department for Work and Pensions, 2,015 people aged 16-24 in Lincoln claimed such benefits in October.
According to Tracey Bleakley, CEO of the Personal Finance Education Group, said, “School-leavers are entering adult life in extremely difficult economic times. Too many young people in Lincoln are still struggling to find work – and the truth is that in many cases we are making their problems worse by allowing them to leave school without the skills they need to manage their money well.”
If even youth in Nebraska is being hit hard by the Obama economy, you know youths across the nation are being hit even harder. Nationally, the young employment rate is now at the lowest point in seventy years.