Pass this along to a teenager: this is 'one sick labor market'

Some brutal facts from David Rosenberg as relayed by Tyler Durden.

• The share of long-term unemployment is at its highest level since the Great Depression (42%).

• Fully 54% of college degree graduates under the age of 25 are either unemployed or underemployed.

• 45 million Americans are on food stamps — one in seven residents.

• 47% of Americans are on some form of government assistance.

• The employment-to-population ratio for 25-54 year olds is now 75.7%, lower than it was when the recession supposedly ended in June 2009.

• The number of people not in the labour force has swelled eight million since the recession ended; absent that effect, the unemployment rate would be 12% right now (about the same as President Obama's election chances would be).

• The number of people confident enough to leave their jobs fell 11% in May for the second month in a row to 891k, the lowest since November 2010.

• The ranks of the unemployed who have been looking fruitlessly for work for at least 27 weeks jumped 310,000 in May, the sharpest increase since May 2011.

• The unemployment rate for males aged 16-19 is 27% and for males between 20 and 24 it is 13%. Draw your own conclusions from a social (in)stability standpoint.

• One in seven Americans are either unemployed or underemployed...

...A mere 16% of the 2009-2011 graduating class has found full-time work, while 22% are working part-time. Even those hired from 2006-08, just 23% are working full-time.

According to a poll cited in the NYT, just 14% of high-school grads today believe they will have a more successful financial future than their parents Line of the day, as depressing as it is, comes from an 18-year old: "Thank God I had a buddy at Burger King who could help me out".

According to Rasmussen, Obama's approval rating has dipped to only 24 percent.

In spite all of this, America's young people -- who have been hammered by Obama's destructive economic policies -- still overwhelmingly support the SCOAMF. So you and I have a lot of education to do between now and the election.

America's youth are literally having their future earning power plundered by the reckless, record deficit spending of Obama and his sycophants.