Youth Unemployment at 14.2% in January 2015
Generation Opportunity releases monthly Millennial Jobs Report
Washington, DC – (2/6/15) – Generation Opportunity, a national, non-partisan youth advocacy organization, is announcing its Millennial Jobs Report for January 2015. The data is non-seasonally adjusted (NSA) and 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 14.2 percent (NSA). The (U-3) unemployment rate for 18-29 year olds is 9.7 percent (NSA).
- The declining labor force participation rate has created an additional 1.837 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 20.8 percent (NSA); the (U-3) unemployment rate is 16.4 percent (NSA).
- The effective (U-6) unemployment rate for 18-29-year-old Hispanics is 14.6 percent (NSA); the (U-3) unemployment rate is 10.5 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 8.2 percent (NSA).
"This is especially true for the black community, which faces a staggering youth unemployment rate of 20.8 percent – that means one out of every five young African Americans is out of work. While we can point to many factors, we can’t ignore one big reason young communities of color continue to face a dire economic situation: our broken criminal justice system.
"African-American young adults are . Incarceration leads to a 40 percent decrease in annual earnings and higher unemployment among those who need opportunity the most. That’s not to mention the lack of second chances for former ex-non-violent offenders who have served time and are trying to rejoin society as productive members.
"As our policymakers continue to work toward greater economic opportunity for all Americans, let’s not forget the struggles that our generation still faces – especially in communities of color, who continue to experience disadvantages as a result of our broken criminal justice system."
Tags: Generation Opportunity, Youth Unemployment, 14.2%, January 2015 To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. and "Like" Facebook Page - Thanks!
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