Many Americans across the United States of America have always dreamed of a middle-class lifestyle with a white picket fence and 2.5 kids. The idea of living the American Dream can be traced back to the ideals that this country was founded on. This so-called dream is usually defined as being the opportunity for all citizens to achieve their goals and become successful if they work hard enough. However, in today’s economy some Americans have started to question the attainability of the “American Dream.”
Is the American Dream Far-Fetched for Millennials?
Millennials in America are entering the workforce at a time when good jobs are hard to find and career advancement is an endless struggle. Around 60% of all millennials do not have a college degree. Even young people with college degrees are finding work in entry-level jobs that don’t require a four-year university education.
According to research by the Economic Policy Institute, the wages for recent college graduates (adjusted for inflation) have fallen 7.7% since 2000. While numerous facets of the economy have recovered from the recession, the youth unemployment rate has remained high, especially among African Americans. Young adults have been one of the demographics hardest hit by the recession.
In 2016 there were 5.5 million young adults between the ages of 16 and 24 disconnected from school and work. Unemployment for this group is double the national average and youth disconnection rates remain higher than pre-recession rates.
The Good News
Even though some of the statistics concerning the economy doesn’t always paint the picture of hope for the American people. However, there is some good news the unemployment rate is at its lowest since 2008 and access to job opportunities has increased steadily since 2011. During my research, I’ve discovered that the nation’s uneven and unpredictable economic recovery – while we have made improvement, it is clear that there is a great deal more that needs to be done.
What are your thoughts? Do you think the American Dream is out of reach in today society? Comment below and if you liked this article please share!
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