Monday, May 6, 2013

More Young People Out of Work in April

Generation Opportunity, a national, non-partisan youth advocacy organization, has issued its Millennial Jobs Report for April 2013. The data is non-seasonally adjusted (NSA) and is specific to 18-29 year olds:

- The youth unemployment rate for 18-29 year olds for April 2013 is 11.1 percent (NSA).
- The effective unemployment rate is 16.1 percent, which adjusts for labor participation rate by including those who have given up looking for work. 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, meaning that those young people have given up looking for work due to the lack of jobs.

The April 2013 youth unemployment rate for 18-29 year old African-Americans is 20.4 percent (NSA); for 18-29 year old Hispanics 12 percent (NSA); and for 18–29 year old women unemployment is 10 percent (NSA).

Evan Feinberg, President of Generation Opportunity and one of the first Millennials to run for Congress, said that is a rough time to be a young person in America. "Half of all graduating seniors aren't going to find meaningful work in the coming months." Feinberg criticized the push for an Internet sales tax, arguing that it hits the millenial generation hardest.


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