Moore: Worried about ‘affordability?’ Get a job
In recent surveys, it has become increasingly clear that young Americans, particularly those in their 20s and 30s, are grappling with significant financial anxiety, primarily centered around the concept of affordability. This demographic, which includes young millennials and Gen Z, is experiencing heightened stress as they navigate the costs of tuition, groceries, healthcare, and housing. A key factor contributing to this financial strain is the declining labor force participation among young men aged 16 to 24. Historically, over 70% of this age group was employed, but current statistics reveal that this figure has dropped to below 60%. This trend not only affects their immediate economic situation but also has broader implications for society, as a lack of employment among young men is seen as a potential catalyst for social unrest.
The repercussions of this employment gap extend beyond financial stress; they also influence personal development and societal structures. The article argues that the formative years of a young man’s life are crucial for building a successful career and establishing themselves as viable marriage partners. With marriage rates among young men declining, the absence of work experience and professional progression is a significant contributor to this trend. The article emphasizes that early work experience is essential for long-term career success and higher lifetime earnings. To address these issues, a cultural shift is necessary, urging parents to encourage their children to work part-time jobs during high school and college. By doing so, young people can acquire practical skills, reduce their reliance on student loans, and ultimately contribute to a more stable economy.
One compelling solution presented is the model used by the College of the Ozarks, where students work 20 hours a week in exchange for tuition-free education. This approach not only instills a strong work ethic but also promotes a sense of responsibility and value for education. By fostering a culture where work is seen as a virtue, young people can better prepare themselves for the challenges of adulthood. The article concludes with a call to action for parents and educators to instill this work ethic in the younger generation, emphasizing that the earlier they learn the importance of hard work, the better equipped they will be to navigate life’s complexities and contribute positively to society.
Polls show that the age group of Americans most worried about “affordability” are the 20- and 30-somethings. That’s young millennials and Gen Z.
Why are they so financially stressed out? One reason things seem so unaffordable to young people is that too many aren’t working hard — they are hardly working.
The latest Labor Department data indicate that fewer and fewer males between the ages 16 and 24 are in the labor force. It used to be that more than 70% had a job; now less than 60% do.
Labor force participation for men even into their 30s is at or near an all-time low. Men without jobs is a prescription for social chaos.
I would argue this is the MOST important age for a man to be hard at work, honing his job skills and on the way to a career that makes him a suitable marriage partner. Marriage rates for young men are down as well. Their lack of work experience and a successful career trajectory is one major reason why.
The earlier in life that men (and women) start working, the more successful they are likely to be in their careers, and the higher their lifetime earnings will be.
Getting young people in the workforce is critical to solving so many of our societal problems. How can tuition, groceries, health care and housing be affordable when so many aren’t earning a paycheck?
Solving this problem will require a societal/cultural shift. Parents need to encourage their high school and especially college kids to be working 10 to 20 hours a week. Watching TV and playing video games, or even being a bookworm, is no path to success.
We need a new ethic that every college student should be working up to 20 hours a week while they are in school in lieu of taking out as much as $100,000 in loans subsidized by taxpayers.
This is a win-win for everyone: Colleges would have to lower their outrageous tuitions. Kids would learn real life skills while in school. And we could eliminate hundreds of billions of dollars of student loan debt that is often defaulted on.
I have long touted the College of the Ozarks model: The tuition is free, but every student pays for college by working 20 hours a week at a job learning life skills. These are some of the most impressive students I’ve met in my visits to dozens of top universities. If the kids pay for the tuition themselves, they value it far more.
This would also be a good way to get rid of the snowflake mentality of college kids sitting in their “safe spaces” and acting as though they have a constitutional right to never be offended. With a job, they will be quickly disabused of that idea the first time they show up for work and get chewed out by their boss.
Work is hard. Work pays the bills. Work is a virtue. The earlier in life kids learn that lesson, the better — for them and for the rest of us.
Stephen Moore is a former Trump senior economic adviser and the cofounder of Unleash Prosperity, which advocates for education freedom for all children.
