Today’s College Grads Face Far Higher Unemployment Rates. Compared to their older peers, today’s college grads face higher rates of unemployment well beyond age 30. Source: Federal Reserve Bank of New York, Are Recent Grads Finding Good Jobs? ________________ As introduced on June 17, 2014, Ways and Means Chairman Camp is… Read more

Since I’ve studied a bit of economics at the University of Chicago, I want to start today with a quote from Milton Friedman: “One of the great mistakes is to judge policies and programs by their intentions rather than their results.”  I’ve spent the last two years on this subcommittee learning about many of our nation’s social services programs, and I’ve found that to ring… Read more

In the Last Six Years, 99% of Net Job Growth Has Been Among Older Workers.  The vast majority of job gains have been among older workers, leaving behind young adults and prime-age workers.    Source: U.S. Department of Labor, Bureau of Labor Statistics. ________________ As introduced on June 17, 2014, Ways and… Read more

Washington, DC – Today, Ways and Means Committee Chairman Dave Camp (R- MI) issued the following statement on the August jobs report. “We are still not seeing the job growth Americans deserve.  Worse yet, a record number of Americans have dropped out of the labor force altogether.  The Senate needs to act on the over forty House-passed jobs bills so we can jumpstart this… Read more

Young People Aren’t Joining the Workforce.  Nearly half of young adults ages 16-24 are not participating in the workforce.  Source: U.S. Department of Labor, Bureau of Labor Statistics. ________________ As introduced on June 17, 2014, Ways and Means Chairman Camp is listing 40 reasons for the Senate to pass the 40… Read more

Half of College Grads Are Still Relying on their Parents after Graduation. Half of graduates are still relying on their parents or other family members for financial help, causing many to postpone life goals like getting married, having children, or buying a home. Source: Wall Street Journal Market Watch, Half of Parents… Read more

Record Share of Adult Children Are Living with their Parents. There are more adult children living with their parents than at any other time since this data was first collected in 1960. Source: Department of Commerce, Census Bureau, Current Population Survey Data on Families and Living Arrangements, Table… Read more

Political Rhetoric "By almost every measure, the American economy, the American workers are better off than when I took office," [President Obama] added. "We're better off by almost every measure." (Source: New York Daily News, 9/1/2014) Economic Reality •    “The labor force participation rate is well below what CBO estimates would be achieved if the demand for… Read more

The Unemployment Rate for Young People Is 13.6 Percent. Individuals aged 16-24 have an unemployment rate that is more than twice the total unemployment rate. Source: U.S. Department of Labor, Bureau of Labor Statistics. ________________ As introduced on June 17, 2014, Ways and Means Chairman Camp is listing 40 reasons for the… Read more

Washington, DC – Today, on the eve of Labor Day weekend, the House Ways and Means Committee released a report on the federal Emergency Unemployment Compensation (EUC) program, which expired in December 2013, and its impact on job growth.  The report finds that job growth weakened while EUC paid out record levels of benefits, but has strengthened since EUC expired.  This year… Read more