Youth Unemployment Falls .6 Percentage Points: Young Americans Remain Unemployed Well Above the National Average
[WASHINGTON, D.C.] – The economy added 236,000 jobs in February 2013, and for the first time in three months young Americans had a share in the job growth. The unemployment rate for 18 to 29 year olds fell .6 percentage points to 12.5 percent (not seasonally adjusted) which is still a full 4.8 percentage points over the national average. 16 to 24 year olds also saw a .5 percentage point fall in unemployment to 16.3 percent (seasonally adjusted), which is still over twice the national average.
Rory O’ Sullivan, Policy and Research Director of Young Invincibles said, “We’re pleased that the youth unemployment rate went down, but we’re still just way too far behind. With youth unemployment at twice the national average, our generation needs faster job growth. We’re ready to get back on track, but our leaders in Washington are putting up more barriers to our nation’s progress. Automatic budget cuts that took effect last Friday will reduce job training and education investments in young people. We need to be investing more in our future, not less.”
Here is more information on how different populations of young people fared in February 2013:
- The unemployment rate for young African Americans ages 16 to 24 (not seasonally adjusted) rose to a shockingly high 29.7 percent, well over 3 times the national average.
- The unemployment rate for young Latinos ages 16 to 24 (not seasonally adjusted) also rose to 18.1 percent compared to 17.2 percent last month.
- The unemployment rate for young men ages 16 to 24 (seasonally adjusted) fell to 17.0 percent compared to 18.2 percent last month.
- The unemployment rate for young women ages 16 to 24 (seasonally adjusted) rose slightly to 15.7 percent compared to 15.2 last month.
- Overall youth unemployment in February 2012 for 18 to 29 year olds (not seasonally adjusted) was 13.0 percent compared to 12.5 percent today.
- Over 750,000 less young adults will receive services after sequestration cuts to Career and Technical Education.
- Also, 70,000 fewer students will receive grants or Federal Work Study and grant aid from cuts to student aid due to sequestration.
For more information on trends in youth unemployment, visit www.younginvincibles.org.
Young Invincibles is a national organization committed to mobilizing and expanding opportunities for all young Americans between 18 and 34 years of age.