Bloomberg: Jobs crisis could spark riots here

by
September 17, 2011

NEW YORK (CNNMoney) — New York City Mayor Michael Bloomberg is worried that high U.S. unemployment could lead to the same kind of riots here that have swept through Europe and North Africa.

“You have a lot of kids graduating college, [who] can’t find jobs,” said Bloomberg, during his weekly radio show on Friday. “That’s what happened in Cairo. That’s what happened in Madrid. You don’t want those kinds of riots here.”

That was the mayor’s response when asked about the poverty rate, which rose to 15.1% in 2010, its highest level since 1993, according to census data released Tuesday. About 46.2 million people are now living in poverty, 2.6 million more than last year.

“The public is not happy,” he said. “The public knows there is something wrong in this country, and there is. The bottom line is that they’re upset.”

Riots have gripped various countries in European cities, including Athens and London, fueled by young people infuriated by high unemployment and austerity measures, which in some cases has led to looting. High unemployment among youth is also one of the driving forces behind the Arab Spring, as impoverished protestors in North Africa and the Middle East rose up against their heavy-handed governments.

“The damage to a generation that can’t find jobs will go on for many, many years,” said Bloomberg.

The mayor, an independent, criticized the partisan politics that havestymied progress in Congress, and the inability of Republicans and Democrats to compromise on ways to fix the economy.

To read more, visit: http://money.cnn.com/2011/09/16/news/economy/bloomberg_jobs_riots/index.htm

 

 

1 Comment - what are your thoughts?

  • Pasquale says:

    Way to go, Bloomie. Encourage the ignorant masses. All they need is a suggestion from someone legitimate. I can see the coalition now; thug unions, illegals, the ignorant, ghetto dwellers, and the college uneducated, of which Obama is one. I have to make a special menton of SEIU and teacher’s unions or is there only one now?

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