Government actions hurting young people, but this will be good for some of them

Unemployment for young people ages 16-29 is at 15.2%, the highest since 1948. The current recession has seen young people moving back in with their parents to make ends meet, and college grads are facing a difficult job market with lots of student debt.

Some of the difficulty these folks face has to do with government policies. As mentioned in earlier articles, the stimulus package has the effect of creating winners and losers. The money our government spends in grants or loans to corporations or public works comes from taxpayers. Money spent by the government for these programs is also money unavailable for private investment. The oddity about this is companies being forced to effectively subsidize their competitors. Unemployment checks also help prolong the task of finding a job for some, and eventually others get discouraged and leave for a while.

So how does this bode well for young people entering the work force from college, trade school, the military, or even high school? For starters, economic downturns provide opportunity for the development of solutions that allow workers to be more efficient, or to meet needs of people. Some of the most popular solutions today are Facebook and Twitter, just to name two. Many of the most popular Internet applications did not exist even five years ago, and these applications have created many wealthy entrepreneurs as a result. A couple of college students developed Google, and Dell was started by Michael Dell while a student in college. The same goes for The Geek Squad. I understand that these examples may encourage Computer Scientists, but they are not the only ones who can benefit. The game of Monopoly was also created during an economic downturn.

So what is one to do? I have named some of the most successful entrepreneurs out there, but there is plenty of opportunity for others to fulfill their passions and perform work that allows them that fulfillment. Recently in the Charlotte area, a story ran about a man who lost his job in the banking industry. He and his wife started a business of picking up dog poop. They love what they're doing because it affords them time together as well as time with their family. This may seem strange but they are no longer dependent upon someone else for their income. I also know a young man who advertised tutor services on Craig's List. He is being compensated to help another young man with his school. work.

The politicians in Washington and in states across the country are happy to spend taxpayer dollars to stimulate the economy as they see fit. Companies hire employees to do things the way they want. This is a great time for those looking for work, especially our young people, to do the work they want and make a living doing it.