Millennials are in bind -- means we are in a bind

In October 2013, half of all unemployed workers were Millennials (16- to 34-year olds).

The Millennial population of working age in the United States increased by 2.6 million between 2007 and 2012, while the number in this age cohort who were working decreased by 2.9 million.

Thirty-nine percent of 18- to 34-year olds were not in the workforce in 2012. 

Between 2003 and 2012, the number of unemployed 18- to 34-year olds increased 37 percent, up to 5.7 million.  The only reason this number is not higher is that during the same period 3.3 million 18- to 34-year olds dropped out of the labor force.

And our economy is based on the service industry.