STOCK MARKET WATCH - Friday, 27 January 2012

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48. ‘Get a Job’? Not So Easy for Teens, as Adults Snap Up Openings

http://inthesetimes.com/working/entry/12616/get_a_job_--_not_so_easy_for_teens/

Even as the economy slowly picks up, finding a job is harder than ever for teenagers, according to a national study released on Tuesday. That’s likely because the jobs that are being "created" in recent months are being snapped up by adults—often people over age 50 who were laid off from other positions or forced out of retirement during the economic crisis. Meanwhile, funding for youth jobs has suffered because of state and local budget crises, and significant "stimulus" funding for youth jobs and training under the American Recovery and Reinvestment Act has now expired.

The study, by researcher Andrew Sum at the Center for Labor Market Studies at Northeastern University in Boston, looks at teen employment over time through "jobless" numbers rather than "unemployment" numbers, since unemployment figures don’t include youth who are not actively looking for work. As with adults, since it has become harder and harder to get a job many youth have given up and hence dropped from the unemployment figures.

A press release for the report says:

The teen employment rate declined by 19 percentage points, or more than 40%, nationally from 1999-2000 to 2011, falling to 26, the lowest rate since World War II… The figures are bleakest for African-American teens in the city of Chicago, of whom 90 percent are jobless, including 93 of every 100 teens from families with incomes under $40,000; upper-middle-income whites were nearly four times as likely to hold a job, the data show.