Their has been a huge debate going on lately about the job market and its success rate . Some people say the job market is doing the best it has ever done while some people are saying that its failing .
According to the Bureau of Labor Statistics (1)the most current unemployment rate is 6.7% and that’s not even including people who have quit looking due to a bad result and/or not being qualified for the job . The problem with this situation is a huge part of the 6.7% are college graduates with more than $50,000 in student loans that is expected to be paid back six months after graduation,
Source 1: http://data.bls.gov/timeseries/LNS14000000
Their is an old saying ,”The children are the future ” so if the children are our future then we as a country have a future filled with economic problems . According to the American Student Assistance 60%of students that attend college have to take out loans and their are currently $1 trillion in total outstanding student loan debt in the US today(2) . If we as a country have an entire generation that is bundled down with massive student loan debt then how can we expect to maintain the economic prosperous country that has kept this country going for years?
Source 2: http://www.asa.org/policy/resources/stats/
We as a country need to be focused on creating jobs because student loan providers expect their money to be paid back six months after graduation and this country can not thrive economically on trillions of dollars worth of student loan debt. . The main thing we as a country need to focus on is what are we as a generation going to leave for the next generation? As of now we have $17 trillion dollars worth of debt and that’s not even counting other unpaid bills.
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