48.8% youth employment/population ratio in July (alltime low for the series)

[stockholmer]

Source: BLS

Youth employment in July 2011

In July, the employment-population ratio for youth—the proportion of the 16- to 24-year old civilian noninstitutional population that was employed—was 48.8 percent, a record low for the series, though only marginally lower than in July 2010. (The month of July typically is the summertime peak in youth employment.)



The employment-population ratios were little changed in July from a year earlier for all major demographic groups—men (50.2 percent), women (47.3 percent), whites (52.3 percent), blacks (34.6 percent), Asians (40.5 percent), and Hispanics (42.9 percent).

In July 2011, 18.6 million 16- to 24-year-olds were employed, about the same as last year. This summer's increase in youth employment—from April to July—was 1.7 million, down slightly from last summer (1.8 million).

Twenty-six percent of employed youth (4.8 million) worked in the leisure and hospitality sector (which includes food services), about the same as in July 2010. Another 21 percent (3.9 million) were employed in the retail trade industry, also about the same proportion as last year.


snip

Read more: http://bls.gov/opub/ted/2011/ted_20110826.htm

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Almost 20 million 16 to 24 year-olds without work. The highest employment rate for 16-24 year-olds in the last 60 years was in July 1989 (69.2%).

[dmallind]

1. Can you superimpose the % who are in school?

People that age not working is not necessarily a basd thing.

[JDPriestly]

3. I think it is horrible.

[dmallind]

6. What percentage of 16 (HS sophomores!) - 24 (early grad school) SHOULD be working?

[Steerpike]

7. Every single one

That needs and wants a job.

[dmallind]

8. And that percentage is.....?

[JDPriestly]

9. Probably at least 40%.n

I started my first official on-the-Social-Security-job when I was 14. I got my first once a week job when I was 7-8, and started babysitting around the age of 10.

Kids thrive on earning their own pocket money. I loved it, and I learned a lot.

Teenagers should have the opportunity to work in the summer if they don't have to go to school.

Back then, we saved our money for college.

I also worked many hours a week while carrying a full load of coursework in college -- and graduated with good grades on time.

I don't understand why companies don't pay kids at least minimum wage for working when they are in high school and college.

I think the whole "intern" working for free matter is exploitation. No wonder college kids run up such huge debts. Don't the people who take advantage of the intern's "free work" think about the debts that young person may have?

[Beacool]

2. Not much hope and change for them........

Unless the unemployment line counts as "change".

:-(

[sofa king]

5. I was just thinking that after ten years of Bush/aftermath.....

There have got to be "kids" out there who have gone their whole working lives without ever having a full time job or benefits.

Some of them would be, what, about 28 years old now....

[Beacool]

10. That's the sad thing.

We seem to eb in a morass with no end in sight.

:(

[No Elephants]

4. "Welcome to the Recovery," a 2010 article by U.S. Treasury Secretary, Timothy Geithner.

http://www.nytimes.com/2010/08/03/opinion/03geithner.html

At first, the administration was taking credit for a "recovery." Now, it is saying the economy is up to Congress.

Is it soup, yet?

If not, when will it be?