14.4% of Young People Out of Work And Labor Force Exodus In December

Americans for Limited Government Vice President of Public Policy and Communications Rick Manning today issued the following statement in response to the latest job numbers reported by the Bureau of Labor Statistics.:
"Only 111,000 more Americans were employed in December than the month before, while 456,000 people abandoned the workforce entirely. That is how the unemployment rate dropped to 5.6 percent in spite of extremely disappointing job growth numbers.

"Astonishingly, the workforce dropouts were entirely women, with the number of men in the workforce actually increasing slightly.

"The sad reality is that this is the ultimate Obama new normal report, fewer new people employed than needed for healthy economic growth rates combined with drops in labor participation across all age groups.

"When coupled with a drop in wages for the average worker, it was hardly a Merry Christmas for Americans who are trying to get ahead in spite of the headwinds created by the President's regulatory policies."Generation Opportunity, a national, non-partisan youth advocacy organization, announced its Millennial Jobs Report for December 2015 which is specific to 18-29-year-olds:The effective (U-6) unemployment rate for 18-29-year-olds, which adjusts for labor force participation by including those who have given up looking for work, is 14.4 percent (NSA). The (U-3) unemployment rate for 18-29 year olds is 8.5 percent (NSA).

The declining labor force participation rate has created an additional 1.847 million young adults that are not counted as “unemployed” by the U.S. Department of Labor because they are not in the labor force, meaning that those young people have given up looking for work due to the lack of jobs.

The effective (U-6) unemployment rate for 18-29-year-old African-Americans is 21 percent (NSA); the (U-3) unemployment rate is 16.1 percent (NSA).

The effective (U-6) unemployment rate for 18-29-year-old Hispanics is 14.8 percent (NSA); the (U-3) unemployment rate is 8.7 percent (NSA).

The effective (U-6) unemployment rate for 18-29-year-old women is 12.1 percent (NSA); the (U-3) unemployment rate is 7.5 percent (NSA).

Corie Whalen Stephens, Spokesperson for Generation Opportunity, issued the following statement:,dir>“The innovative spirit of our generation is slowly starting to produce benefits for the broader economy, in spite of policies that hamper it. It's always great to see job creation, though much of the growth we saw this month was among part-time and low wage jobs. If politicians want to unleash our creativity to the fullest, they should rethink their priorities.

"Laws such as Obamacare have created a part-time work force with falling wages, and are unfairly enriching well-connected big businesses at our expense. Let us thrive without these roadblocks, and you’ll see job numbers vastly better than these."

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