The jobless rate for Americans ages 16 to 19 has jumped to 26%. Chris Farrell looks at whether this signals a "lost generation" of U.S. workers
The worst labor market in 60 years has yet to show signs of revival, even amid widespread predictions by economists that the recession ended a year ago. America's unemployment rate remained at a steep 9.5 percent in the July jobs report released Aug. 6, and the government's broader measure that combines unemployment and underemployment is even higher at 16.5 percent.
That's bad news for the job prospects of most workers, from blue-collar employees looking to earn a paycheck at a retail store or on a factory floor to white-collar managers seeking a spot in a cubicle or an office. But the unemployment numbers seem positively dire for teenagers. The jobless rate for teenagers 16 to 19 years old was 26.1 percent in July, up from around 15 percent before the recession struck.
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3 comments:
Why is this a problem. Teens shouldn't even be considering the workforce. You need to be training and gaining some advanced skills, not worrying about flipping burgers. The mexicans have taken that job.
A major portion of the stimulus should have focused on providing tax breaks/grants to businesses that take these kids on as apprentices in order to help create skilled labor (electricians, welders, engineers).
These stats (and others of the same vein) show the Orwellian nature of our government. They tell us how wonderful things are and how great it is that Obama has "saved" so many jobs and how the economy is "rebounding", but the numbers don't lie...a TRILLION dollars and nothing to show for it...foreclosures are up, bankruptcies are up, unemployment at 9%+, new home sales and construction is down, banks are being closed, deficits are at unreal heights, and people are getting fed up with the "it's not my fault--- it's George Bush's fault" line. Obama is out of his league...a beginner...an "on-the-job" trainee that is floundering under the stress of going from flowery speech maker and black hero of the masses to someone who has to manage a multi-trillion dollar enterprise backed up by the greatest military force on the planet. And, of course, he's never even managed a McDonald's...how can he fail? He's superbly prepared and equipped for the job.....
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