13.5% of Young People Out of Work in June

Generation Opportunity Releases Monthly Millennial Jobs Report
(WASHINGTON) – Generation Opportunity, a national, non-partisan youth advocacy organization, is announcing its Millennial Jobs Report for June 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 13.5 percent (NSA). The (U-3) unemployment rate for 18-29 year olds is 9.6 percent (NSA).
• The declining labor force participation rate has created an additional 1.771 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 18.7 percent (NSA); the (U-3) unemployment rate is 17 percent (NSA).
• The effective (U-6) unemployment rate for 18-29 year old Hispanics is 13.8 percent (NSA); the (U-3) unemployment rate is 10.9 percent (NSA).
• The effective (U-6) unemployment rate for 18-29 year old women is 11.4 percent (NSA); the (U-3) unemployment rate is 9.2 percent (NSA).

Generation Opportunity President Andrew Clark issued the following statement:"Young people should be driving our country's economic growth, but thanks to government policies that favor entrenched interests over dynamic innovators, we're struggling disproportionately. Generation Opportunity's Millennial Jobs Report shows that 13.5 percent of 18-29 year-olds, nearly one in seven, are out of work.

“Today's disappointing jobs numbers are yet another reminder that the unemployment rate is going down for all the wrong reasons. Over 1.7 million young people are no longer counted as unemployed by the Labor Department because they've simply given up looking. The labor force participation rate is now at its lowest point since 1977.< “More debt-fueled government spending will not solve this problem. We need to unleash our creative, innovative, and entrepreneurial generation to invent new products and pioneer new industries that don't even exist yet. When we let Washington manipulate our economy, we know what happens. When we let freedom drive progress, there's no limit to what's possible."----------------
Generation Opportunity is a national, non-partisan organization advocating for economic opportunity for young people through less government and more freedom.

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