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Young Invincibles Statement on September Jobs Report

FOR IMMEDIATE RELEASE:
October 22, 2013

Contact: Colin Seeberger, colin.seeberger@younginvincibles.org, 214-223-2913

September Jobs Report Shows Youth Unemployment Rate Dip

[WASHINGTON]— As the national unemployment rate fell slightly to 7.2 percent and the economy added 148,000 jobs in September, the unemployment rate for 18 to 29 year-olds dropped as well to 11.2 percent from 11.8 percent in August (not seasonally adjusted*). For younger workers ages 16 to 24, the unemployment rate fell to 15.2 percent from 15.6 percent (seasonally adjusted).

Rory O’Sullivan, Policy and Research Director at Young Invincibles, released the following statement on this month’s jobs report:

“This is progress, but we’ve still got a long way to go. With over 4 million unemployed young people under age 30 we face serious long-term consequences for the country in the form of lower wages and reduced economic growth. We need our leaders in Washington DC to stop squabbling with one another and get to work to help our generation get back on track. According to Standard & Poor’s, the recent government shutdown cost the United States $24 billion. That’s $24 billion we could have invested in putting young people back to work. Poof. Gone.”

Here is more information on how different populations of young people fared in September 2013:

• The unemployment rate for Black young adults ages 16 to 24 in September was 25.3 percent compared to 27.2 percent last month (not seasonally adjusted).
• The unemployment rate for young Latinos ages 16 to 24 in September was 15.8 percent – it was 17.6 percent last month (not seasonally adjusted).
• The unemployment rate for young men ages 16 to 24 in September was 17.4 percent compared to 17.2 percent last month (seasonally adjusted).
• The unemployment rate for young women ages 16 to 24 in September was 12.7 percent, compared to 13.9 percent last month (seasonally adjusted).
• Overall youth unemployment for 18 to 29 year-olds is 11.2 percent compared to 11.8 percent a year ago in September 2012 (not seasonally adjusted).

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Young Invincibles is a national organization committed to amplifying the voices of young adults, ages 18 to 34, and expanding economic opportunity for our generation. Young Invincibles ensures that young adults are represented in today’s most pressing societal debates through cutting-edge policy research and analysis, and innovative campaigns designed to educate, inform and mobilize our generation to change the status quo.