Monday, July 12, 2010

Young Americans Learn That Trying To Find Work Is Pointless

While the nation has experienced some job creation during the rebound (and I use that term lightly), the rebound so far, however small, hasn't even started for the young.

That's because the new jobs in today's market aren't open to younger workers, according to a study called "Unemployment Among Young Workers" by the U.S. Congress Joint Economic Committee:

"Employers added over half a million jobs in the last four months, yet the unemployment rate for young workers reached a record 19.6 percent in April 2010, the highest level for this age group since the Bureau of Labor Statistics began tracking unemployment in 1947... The youngest workers (16 to 17 years) experience the highest rates of unemployment. The unemployment rate for 16 to 17 year olds was 29 percent in April."

The chart below shows how the unemployment rate for America's youngest workers (in red) continues to get worse, even while other age groups' unemployment rates have plateaued or slightly declined (in blue or green).

Read more:

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