13.4% of Young People Out of Work in July

Generation Opportunity Releases Monthly Millennial Jobs Report

Washington – Generation Opportunity, a national, nonpartisan youth advocacy organization, is announcing its Millennial Jobs Report for July 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 13.4 percent (NSA). The (U-3) unemployment rate for 18-29 year olds is 9.0 percent (NSA).
• The declining labor force participation rate has created an additional 1.779 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 18.2 percent (NSA); the (U-3) unemployment rate is 16.3 percent (NSA).
• The effective (U-6) unemployment rate for 18-29 year old Hispanics is 13.7 percent (NSA); the (U-3) unemployment rate is 9.6 percent (NSA).
• The effective (U-6) unemployment rate for 18-29 year old women is 11.2 percent (NSA); the (U-3) unemployment rate is 8.9 percent (NSA).

Generation Opportunity Spokeswoman Patrice Lee issued the following statement:

“Don’t call them job numbers, call them dropout numbers. Unemployment rates have fallen—especially for Millennials—because American workers are discouraged and have dropped out the job market entirely. And many of those who are able to find work are settling for part-time jobs.

“Policymakers should be thankful for the sharing economy—room sharing companies like AirBnB, ride shares like Uber and Lyft, and food trucks—which is helping entrepreneurs find and create jobs. Instead of cracking down on innovation and competition, state and local governments should release the constraints on cutting-edge businesses that allow people the freedom to work hard and pursue success on their own terms.”
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Generation Opportunity is a national, nonpartisan organization advocating for economic opportunity for young people through less government and more freedom.

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