For the past few weeks I have passed the Occupy Philadelphia movement that has taken over the area outside of City Hall. There are many young adults holding signs that reflect their stance on a myriad of issues which all seem to boil down to one thing: young Americans are angry!
There has been a dismissive attitude in the media regarding the Occupy Movement because many in the media feel that these protestors have failed to clearly state their objectives. Although the movement may seem disjointed, young adults today have a right to their anger.
According to analysis of the 2010 census figures, there has been an increase in the wage gap between younger and older Americans. Older people are staying in jobs longer and younger people are experiencing the highest unemployment rates since the depression. With so many young adults unable to work, there is an increase in student loan defaults. This year’s student loan default rate has reached 8.8 percent, compared to 7 percent last year. Additionally, the census report shows that younger people have delayed marriage and homeownership. Many have opted to remain living at home with their parents because of their inability to work and earn a living.
With the combination of skyrocketing tuition costs, dismal job opportunities, student loan debts which are all but impossible to discharge in bankruptcy, and a housing market that makes homeownership more difficult, why shouldn’t these occupiers be angry?