Raygun commemorated De$ Moine$' wealthy designation with a T-shirt design (Raygunsite.com)
Do young people feel wealthy in Des Moines?
Published on January 24th, 2014 | by Josh Hafner
The “Today” show’ based its designation of Des Moines as the “wealthiest” city in America this week mostly on cost of living.
It has us wondering: Do Des Moines’ 20 and 30somethings — particularly those who graduated during or after the Great Recession — feel wealthy here?
Unemployment nationally among people ages 18-29 was 9.5 percent last month, as calculated by Generation Opportunity. The conservative advocacy group for millennials found the unemployment number jumps to 15.9 percent if you count those who’ve given up on finding work.
About 71 percent of those graduating Iowa’s four-year colleges in 2012 carried an average student debt of $29,456, CNN reported. The average debt was a higher $35,200 for graduates nationwide last year.
A bigger buzzkill: An oft-cited University of North Carolina study found that even when young people find jobs, any bouts with unemployment can have negative effects on their earnings for as long as a decade thereafter.
Do you feel rich in Des Moines? Did you have any idea there is a fox hunting club in Des Moines?