Young adults have been hit plenty hard by the recession. A recent study by Western Union Survey reveals that almost one in five members of Generation Y have lost their job.
The numbers paint a tough picture for a segment of the population still early in their working lives:
- 17 percent lost their primary jobs during the recession
- 56 percent were looking for new jobs
- 37 percent were looking for a second job to supplement their income
- 8 percent declared chapter bankruptcy.
Looking at the numbers, UPI declares this generation the one hit hardest by the recession.
Generation Y encompasses anyone born between 1979 and 1999.
A recent study conducted by one of the country’s largest loaning company for students, Sallie Mae, they found out that college student use about 4 credit cards to pay for whatever that is that they purchase. In study, it showed that a lot of college students are now facing financial charges since they could not afford to pay their monthly financial burden on time. According to the study, the median amount of students’ debts has increased in about 3 percent in only a span of 5 years. Also found in the study that college students nowadays have had debts that was once $373 and is now $939.
Identity theft has been a problem of the county for a long time and has already affected over 11 million American citizens throughout the years. Identity theft is a crime wherein the criminal would use ones credit line or “identity” to pay for the items he or she purchased or for the services he or she acquired. In the United States, soldiers are the most susceptible people who have their identities stolen by these criminals.
Skokie, Illinois fire rescuers recently drilled a hole in the ceiling to rescue an 82 year-old woman from her apartment. They couldn’t use the door because the space was piled to the ceiling with hoarded stuff. Earlier this year, an El Paso, Texas woman died by fire when the newspapers she had hoarded fed the flames. Firefighters couldn’t get through the clutter to save her. These may sound like extreme cases, but hoarding is becoming an ever-increasing problem.