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Young adult unemployment report released on May 1, 2013

In a time of across-the-board budget cuts, dismal job prospects continue to leave young Americans unsure about their economic future. Currently, young adults face a national unemployment rate of 16.2 percent, which is over twice the national average. In Minnesota, the unemployment rate for young adults is less than the national youth unemployment rate, but still exceedingly high and about twice the state average overall.

A group called the Young Invincibles, a national organization that describes themselves as “committed to amplifying the voices of young Americans”, has released a detailed analysis of unemployment for young people in Minnesota.

You can check it out at:
Included in the report are details, such as:

  • The average Minnesotan ages 25 to 34 makes almost $2,000 less today than in 2005.
  • While young Minnesotans have fared better than their counterparts in many other states, the number of young people in the state with jobs has fallen 3 percentage points since 2005 and 9 percentage points since 2007.

Studies show that the inability to gain early work experience dims career prospects for a lifetime; if we do not act now, this crisis could have far-reaching economic consequences for all those living in Minnesota.