For the Young, a Dismal Jobs Picture

April 8, 2013 | | CBS Moneywatch |

Unemployment rates for Americans under the age of 25 are the highest since the end of World War II. It's a situation that is unlikely to change anytime soon, according to a new report.

Since 2007, the average official unemployment rate for people under 25 has been 18 percent, 5.5 points higher than for the preceding 15 years, according to Bureau of Labor Statistics figures. This would seem to make the 16.2 percent rate for March look like an improvement.

According to a new study by the public policy group Demos:

"Young people are facing a jobs deficit of over 4 million jobs. The economy needs to add 4.1 million new jobs for young adults in order to return to employment at the same levels as before the recession began. If we continue to add jobs at the current rate it will be 2022 before the country recovers to full employment. Even then, workers under 25 will face unemployment rates double the national average."