Change in Total Youth Employment, July to August 2012
The 25 to 34-year-old cohort also saw conditions worsen over the past month. These workers had been clinging to an unemployment rate on par with the overall working population since April, even out-performing the national rate in July. Prior to April, workers ages 25 to 34 had seen higher than average unemployment rates since mid- 2008, so finally matching the national average provided some hope that the disadvantages facing younger workers were becoming less relevant as the economy grew. In August, the unemployment rate for 25 to 34-year-olds rose by one tenth of a percentage point to 8.3 percent. The change comes along side zero change in labor force participation, with 25 to 34-year-olds engaged in the labor market at a rate of 81.1 percent – down from the beginning of summer but steady since July. As a whole, these workers are not leaving, but they are not getting jobs either.
Continue reading the Young Adult Employment Report for August 2012 >>>