Those of us of a certain age periodically think wistfully about how wonderful it would be to be young again. Well, today, perhaps not so much. The reality is that young people are having a tough time entering the job market, and the arrival of Artificial Intelligence clouds the outlook even further. Moreover, many young people are saddled with the overwhelming burden of student loans.
With an overall national unemployment rate of roughly 4%, note that recent college grads are experiencing a 5.8% rate and all younger workers are having an even a tougher time with 6.9% unemployment. If you consider the American Dream as being married and owning a home, the following chart shows that this ideal has become relatively rare.
Finally, this chart indicates that delinquent student loans have soared in response to the Administrations decision to restart the collection of loan payments on May 5, 2025. While it is a topic for another day, note the significant increase in the level of credit card debt that is seriously delinquent.
Perhaps having gray hair is not so bad after all!