It’s easy to say that young people don’t care about the economy – that they are too busy starting their own music act or sending racy text messages to care about foreclosures, the stock market or health care reform.

But the economic downturn is affecting teens and recent college graduates in a profound way. It’s harder for teenagers to get summer jobs, some are seeing their parents cope with job losses, and still others are turning the bad times around by exploring opportunities older generations may not have the flexibility to try out.

Judy Woodruff reports on college graduates in Richmond, Va., who are helping older residents refine their resumes and re-enter the job market.

And in Detroit, Woodruff met a 25-year-old who’s encouraging community development by creating loyalty cards for local businesses.

The White House has also noted this spirit of entrepreneurship by using Recovery.gov funds to create summer jobs for students and is asking the public to share their summer job stories online.