What Young Americans Worry About Financially
NEW YORK (TheStreet) -- America's younger set seems to be in significant despair, at least compared with their parents and grandparents.
And with good reason.
According to the U.S. Bureau of Labor Statistics, Americans aged 16-19 experienced an unemployment rate of 21.4% through February, and Americans aged 20-24 -- a demographic that includes millions of new college graduates -- are seeing a jobless rate of 11.9%.
The timing could not be worse for college grads. Average debt for 2012 college graduates is $29,400, according to the Project On Student Loan Debt. That's up from $18,750 for 2004 college graduates.
- Eight of every 10 teenagers (ages 13 to 17) are worried about finding a good job.
- 78% are anxious about potential student loan debt.
- 50% are concerned about being worse off financially than their parents.
- 97% still plan on attending college.
- More than 75% still rely on their parents/guardians for financial information.
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