Daily Archive: October 25, 2020

Are America’s twenty-somethings doomed to become a lost generation?

America’s youngest workers started the year with a rare opportunity to slingshot their careers in the hottest job market in decades.

They’ll end 2020 facing some of the nation’s bleakest employment prospects and the most volatile job market ever for recent college graduates.

The unemployment rate for young people age 20 to 24 was 12.5% in September, the highest among adults. Joblessness for them peaked at nearly 26% at the height of the pandemic in April—quadruple the level two months earlier—a bigger jump than in any previous recession back to the 1940.

Although the overall U.S. labor market is gradually improving, it remains far below its pre-pandemic health. Jobless claims fell to 787,000 in the week ended Oct. 17 at the same time that the number of Americans on extended unemployment benefits rose, according to Labor Department data.

Economists say the longer that young people are forced to delay their … Read More

Pope names new cardinals, putting his stamp on Church’s future By Reuters

© Reuters. Pope Francis leads the Angelus prayer at the Vatican

By Philip Pullella

VATICAN CITY (Reuters) – Pope Francis named 13 new Roman Catholic cardinals on Sunday, including nine who are eligible to enter a conclave to elect his successor after his death or resignation.

The new cardinal electors, whom the pope listed in a surprise announcement while addressing pilgrims from his window overlooking St. Peter’s Square, include Archbishop Wilton Gregory of Washington D.C. He will become the first African-American to hold the rank.

The 13 new cardinals will be elevated to the high rank at a ceremony known as a consistory at the Vatican on Nov. 28, and the selection of more cardinal electors increases the possibility that the next pope will be someone who will continue Francis’ policies.

Francis has now appointed about 57% of cardinal electors, whose number rises to about 128 with the naming of

Read More