I'm here to say: No, this is bad, and we should worry about it.
1. Gen Zers entering the labor market are looking at two decades of wage suppression and Great Depression levels of unemployment now. Not good.
2. Folks in the 16-24 cohort, particularly from lower-income families, aren't just idle dependents. Income losses sting very hard for them. Homelessness, hunger: Those are the stakes.
2a. Teenagers have ~200,000 babies a year. People in their early 20s are parents to millions of kids. We need to be very worried about them.
3. This is a stratifying event, in terms of race, family income, and immigration status. It's going to wedge poor kids and rich kids even further apart. White kids and black kids. Citizen kids and kids whose parents are undocumented and kids who are undocumented themselves.
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