For the young, unemployment hits record

[Omaha Steve]

http://www.kansascity.com/2010/08/27/2182315/for-the-young-unemployment-hits.html

By DIANE STAFFORD
The Kansas City Star

While the national unemployment rate stuck at 9.5 percent this summer, the youth unemployment rate hit 19.1 percent in July.

It was the highest midsummer jobless rate for the 16-to-24 age group on records dating back to 1948, the U.S. Bureau of Labor Statistics said Friday.

The jobless rates for young people in July — typically the peak month for youth employment — jumped from 10.5 percent in 2007 to 14 percent in 2008 to 18.5 percent in 2009.

This year, fewer than half (48.9 percent) of that population group held jobs in July. That also was a record — for the lowest share of 16- to 24-year-olds to be employed in the month.

An overall loss of establishment payroll jobs contributed to the national rise in unemployment, but some observers also say that federally mandated minimum-wage increases are partly to blame.

The raw number of young people who held jobs in July 2010 was 18.6 million, the bureau said. The youth labor force totaled 22.9 million workers.

FULL story at link.

[jwirr]

1. I have seen some of it. My grandson moved down to St. Paul last

month to go to college. A internet friend of his from Michigan came to visit and is staying trying to get a job. So far he has put in 50 applications with no success.

[dkf]

2. This is going to be their memories about getting a job.

I wonder if all this rejection has psychological impacts. I can't imagine it's good for a persons psyche.

[annabanana]

3. It certainly has impacted my 23 yr old's sense of self.

He did very well at college.. Dean's list etc etc..A year + 1/2 later, scores of resumes, a dozen interviews and nothing. He's beginning to feel "what the hell's the use.. why did I bother to go to school". and other soul sucking downers...

[dkf]

4. Man that totally sucks.

I remember how apprehensive I was when I went job hunting. I feel for all our youngsters.