People don't care about the US economy. They care about cheaper flat screens. They care about having the newest phone or a pair of boots, or whatever else is trending.
They don't want to work for a living. They've never had to. Their parents gave them everything. Their parents made it comfortable to live at home without every having to contribute. They want to go to college on somebody else's dime, party their way through and get an amazing, high paying job.
They've never been asked to be responsible, to pull their weight or even clean up after themselves.
Watching my industry, IT (network, security) it is filled with incompetent morons who have no business being in IT. They don't know their job, they don't own a problem, they don't want to work and the work they do is flawed. Recently had to be part of letting a 10 year network engineer go; a Cisco certified expert with a string of certifications who had absolutely zero experience with Cisco CLI commands. I don't know how you can be in networking for that long and not picked up some of them. For that matter, how do you pass tests and finish with no skills? In a week, given the job of identifying all the equipment and ports used in a particular route, he couldn't get past the first two devices in the mix. He had no idea how to find out, despite being on an Internet connected computer.
The turnover is ridiculous because the people are morons with no work ethic. The go through school and learn nothing. They have years of on the job experience and no skills. One of our clients recently lost their server admin - he got a job for a security company. Turns out, he failed to even patch Windows servers in his year there. The AV rollout was less than 2/3rds done on the server farm of 40 servers - after 6 months. An entry level help desk guy with certification from a popular IT school was setting static IP addresses on wireless adapters in laptops.
It goes on an on. These days I am always astounded when I find a tech that not only knows their job, but takes an active interest in solving problems and sticking through to completion.