80 Million Strong Coalition & Voto Latino: Hispanic Youth Are Being Disproportionately Affected by the Economic Crisis

80 Million Strong and its coalition partner Voto Latino today announced that Hispanic youth are being disproportionately affected by the economic crisis. The statement was released on the heels of a new Employment Situation Summary from the Bureau of Labor Statistics showing that Hispanic unemployment for 20-24 year olds was at 16.5% for May 2009, a nearly 3% increase from last month’s figures. In the 16-19 year old bracket, the numbers are even more alarming, with Hispanic unemployment reaching 31% in May 2009, almost 4% higher than April’s numbers.

“During these tough economic times, the jobs crisis has impacted everyone, but Hispanic youth have been particularly affected,” stated Maria Teresa Petersen, executive director of Voto Latino and a coalition partner member of 80 Million Strong. “Whether it’s student loans, credit card debt, the skyrocketing costs of health care and education, or rising unemployment, young people today are facing more challenges than ever. That’s why we have joined together to launch 80 Million Strong, to address the challenges being faced by young people, and to work together to come up with proactive solutions to these issues.”

According to other statistics, the unemployment rate for young people aged 20-24 increased from 10.3% to 15% since May 2008 – a rate that is higher than the national average. In addition, since April, the unemployment rate for 16-24 year olds increased from 16.7% to 17.3%, while the national unemployment rate increased from 8.9% to 9.4%.

The average Millennial has over $2000 in credit card debt by age 24, and 30% of young people are uninsured. In addition, as Millennials graduate from college and enter the job market this summer, they are increasingly competing with older workers who have 2-5 years of experience for the same entry-level jobs.

The purpose of the 80 Million Strong coalition is to engage the 80 million members of the Millennial Generation in developing, promoting, and advocating a set of proposals to address the current economic hardships disproportionately affecting members of the demographic. The coalition will be convening a summit of Millennials in July in Washington, DC to achieve these goals.

Voto Latino, a member organization of 80 Million Strong, seeks to educate members of the Latino community about how to engage in their democracy, and translate this to action at the ballot box and policymaking forums. The organization will be heavily involved in the summit this July, highlighting issues faced by the Latino community in the economic crisis.

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For more information about 80 Million Strong, please contact:

Selena Shilad Stephen Molldrem

202-550-2547 602-628-6133

For more information about Voto Latino, please contact:

Josh Norek

josh@votolatino.org

323-496-9662″

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