FOR IMMEDIATE RELEASE:
November 8, 2013
Contact: Colin Seeberger, email@example.com, 214.223.2913
Slight Improvement in Youth Unemployment in October
Millennial Unemployment Rate Is Nearly 50 Percent Higher than the Overall National Unemployment Rate
[WASHINGTON]— As the national unemployment rate rose slightly to 7.3 percent and the economy added 204,000 jobs in October, the unemployment rate for 18 to 29 year-olds declined to 10.9 percent from 11.2 percent in September (not seasonably adjusted). For younger workers, ages 16 to 24, the unemployment rate also went down slightly to 15.1 percent from 15.2 percent in September.
Rory O’Sullivan, Policy and Research Director at Young Invincibles, released the following statement on this month’s jobs report:
“Despite the small drop in the youth unemployment rate in October, the number of young adults out of the workforce is still too high. Congress needs to invest time and energy in measures that will expand economic opportunities for young people. Our generation still has a long way to go in recovering from the Great Recession, and prolonged youth unemployment is a problem that every American should care about.”
Here is more information on how different populations of young people fared in October 2013:
• The unemployment rate for Black young adults ages 16 to 24 in October is 25.0 percent compared to 25.3 percent last month (not seasonally adjusted).
• The unemployment rate for young Latinos ages 16 to 24 in October is 15.4 percent – it was 15.8 percent last month (not seasonally adjusted).
• The unemployment rate for young men ages 16 to 24 in October is 16.9 percent compared to 17.4 percent last month (seasonally adjusted).
• The unemployment rate for young women ages 16 to 24 in October is 13.1 percent, compared to 12.7 percent last month (seasonally adjusted).
• The overall unemployment for 18 to 29 year-olds is 10.9 percent compared to 12.0 percent a year ago in October 2012 (not seasonally adjusted).
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.