by Calculated Danger on 8/13/2024 03:52:00 PM
Here’s a have a look at the change in teen employment over time.
The graph beneath exhibits the employment-population ratio for teenagers (16 to 19 years outdated) since 1948.
The graph is Not Seasonally Adjusted (NSA), to point out the seasonal hiring of youngsters throughout the summer time.
Just a few observations:
1) Though teen employment has recovered some because the nice recession, total teen employment had been trending down. That is most likely as a result of extra individuals are staying in class (a long run optimistic for the financial system).
2) Teen employment was considerably impacted in 2020 by the pandemic.
Click on on graph for bigger picture.
3) A smaller proportion of youngsters are acquiring summer time employment. The seasonal spikes are smaller than in earlier many years.
The teenager employment-population ratio was 37.9% in July 2024, down from 38.0% in July 2023. The teenager participation price was 43.6% in July 2024, up from 43.1% the earlier July.
This has pushed the teenager unemployment price (NSA) as much as 13.2% from 12.0% in July 2023.
The decline in teenager participation is among the causes the general participation price has declined (after all, the retiring child boomers is the principle motive the general participation price has declined during the last 20+ years).
