Thursday, August 25, 2011

Percentage of Young People Employed in July Is Lowest on Record

Stagnating economy plain and simple.
( – Although more young people found jobs between April and July, the percentage of young people employed in July 2011 was the lowest July rate on record since the government started tracking the numbers in 1948.

Data released on Wednesday by the Labor Department's Bureau of Labor Statistics (BLS) shows that only 48.8 percent of young people ages 16-24 were employed in July, a slightly lower percentage than last year. Youth employment typically peaks in July, as high school and college students work summer jobs and graduates take permanent jobs.
Raising the minimum wage certainly didn't help.

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