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The Minnesota Daily

Serving the UMN community since 1900

The Minnesota Daily

Serving the UMN community since 1900

The Minnesota Daily

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Millennials not to blame for lagging

The economy is slowly improving, and Americans are getting back to work — except the millennials who are lagging behind.

A report authored by Sen. Amy Klobuchar, D-Minn., recently stated that the unemployment rate for millennials has fluctuated around 8.9 percent, significantly down from its annual peak in 2010 at 12.7 percent. Though it’s down, this is still nearly 2 percent higher than its pre-recession average.

This is a problem for a number of reasons. Few employment opportunities, combined with high levels of student debt and poor job prospects, leave a lasting impact on the economy. This can result in persistently low wages for millennials throughout their careers, and subsequently, there is less spending on goods that fuel economic growth such as houses — let alone leaving money to save for retirement.

To solve this problem, we urge steps to be taken to reduce the insane debt load that college students accrue. Bills like the Bank on Students Emergency Loan Refinancing Act must be passed. Putting President Barack Obama’s recent proposal of two free years of community college into action is another step that would help millennials move out of their parents’ house and begin their lives.

Perhaps it is time to recognize the need for policy changes and attitude adjustments in American politics instead of pointing fingers at “lazy” millennials.

We are all trying the best we can to salvage careers out of a less-than-stellar recovery.

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