• Thu, Dec 20 2012

Job Report Shows High Youth Unemployment

youthunemploymnt

Unemployment and underemployment have been a point of contention for many Americans. But particularly for the Millennial generation, the transition from school to the job market hasn’t been particularly graceful. According to the first post-election jobs report, unemployment numbers aren’t looking up at 10.9 percent for 18- to 29-year-olds.

Generation Opportunity, a national, non-partisan organization advocating for Millennials ages 18 to 29, recently released its Millennial Jobs Report for November 2012. The jobs report data is non-seasonally adjusted (NSA) and is specific only to 18- to 29-year-olds.

Check out more Millennial employment data generated from November:

  • Defining the labor force: The declining labor force participation rate has created an additional 1.7 million young adults that are not counted as “unemployed” by the U.S. Department of Labor because they are not in the labor force participation rate, meaning those young people have given up looking for work due to the lack of jobs.
  • Disparities in the unemployment rate: The Millennial unemployment rate for African-Americans for November 2012 is 18.5 percent (NSA); the Millennial unemployment rate for Hispanics for November 2012 is 12.5 percent (NSA); and the unemployment rate for 18- to 29-year-old women for November 2012 is 10.5 percent (NSA).
  • The real numbers: If the labor force participation rate were factored into the 18 to 29 unemployment calculations, the actual Millennial unemployment rate would rise to 16.4 percent (NSA).

 

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