Unemployment Rates by Age and Sex, 2008 to 2012

Unemployment Rates by Age and Sex, 2008 to 2012

November builds on four previous months of job gains at rates higher than population growth, yet Millennial workers aren’t sticking around for the perks.  Maybe that’s because the benefits of finally landing a job do not sufficiently compensate for the effort of attaining one. 

For the second month in a row, retail added more jobs than any other sector.  The 53,000 new jobs in this industry are representative of the opportunities available broadly in the economy, where nearly 60 percent of the new jobs added during the recovery have been in low-wage occupations.  These positions come with low security, erratic schedules, and low wages; meaning that the culmination of weeks of struggle to find work is often just more struggling. 

Rather than compete for a few hours a week making $9 per hour, young adults and workers overall are finding other options outside of the labor market.  But, as mentioned in last month’sanalysis, that’s a loss for the economy.  Simply adding jobs is not enough to put the workforce back on track to prosperity – especially not at a rate of approximately 150,000 per month. 

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