Saturday, August 13, 2011

Average Teen Unemployment Rate in D.C. is 50.1%, Analysis Shows

The teen unemployment rate is way above the nationwide teen unemployment rate which is at 50% currently according to this article:
An analysis based on U.S. Census Bureau data by the Employment Policies Institute (EPI) shows that the average unemployment rate for teens ages 16 to 19 in the District of Columbia was 50.1 percent as of June 2011. This corresponds with data from the Bureau of Labor Statistics (BLS) showing that for D.C. the annual average unemployment rate for teens in 2010 was 49.8 percent.

Michael Saltsman, research fellow at EPI, provided the 50.1 percent figure to as an update of an analysis he compiled based on the Census Bureau’s Current Population Survey.

The 50.1 percent figure is almost double the average teen unemployment rate in June 2007 in the District, when it was 26.2 percent, according to Saltsman.
Well this article didn't break it down according to race. I wonder how many blacks vs. whites vs. latinos vs. whatever are unemployed. Is any one group having a much more tougher time finding jobs than others?

Whatever the race/ethnicity here's an explanation:
“Young people are facing more competition for fewer jobs, a lingering consequence of the recession and wage mandates that have eliminated entry-level opportunities,” Saltsman said. “The consequences for this generation of young people missing out on their first job are severe, including an increased risk of earning low wages and being unemployed again in future years.”
Competition with older workers even for those jobs you would expect to be held by young people? I would like to hear more about this conclusion about an increased risk of earning low wages and then possibly being unemployed again in future years. How did Saltsman arrive at that?

Via Instapundit!

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