ArticleDownload Worksheet May 6th, 2013
Young People Face Worst Job Market in 50 Years
Young people in the U.S. are experiencing more difficulties starting their careers than at any time in the last 50 years.
This comes despite a Labor Department report showing that the economy added 165,000 jobs last month, primarily in the retail, restaurant and health care industries. The stronger-than-expected hiring helped reduce the nation’s unemployment rate a modest 0.1 percent to 7.5 percent, the lowest level since December 2008.
While numbers on youth unemployment are disputed, most estimates place it around 16 percent, more than double the national rate. The Wall Street Journal reported that even 16 percent might be understating how bad the problem is, since that doesn’t count young people who have simply stopped looking for work.
Recent graduates are hurting more than other college-educated workers, with only 72 percent of those receiving their degree since 2011 entering the labor force, down from 87 percent twenty years ago. Included in that “employed” category are many young people who are underemployed in part-time work or in jobs that don’t match the quality (and price) of their education.
Since the recession hit in 2008, young workers just entering the workforce have been dubbed “the lost generation.”
Why is work so hard to find for young graduates?
There are many reasons that young people are feeling the squeeze. Experienced workers who have been laid off are now accepting entry-level jobs, many companies have ended training programs and many workers are postponing retirement because their savings took a severe hit.
The retirement age for men climbed from 62 to 64 over the past two decades and the average American now expects to retire at age 67, according to a recent Gallup Poll.
In addition, dramatically changing communication technology has made it hard for some young people to communicate well in interviews with potential employers. According to recruiting firm Adecco, hiring managers are three times more likely to hire a worker that is over 50-years-old than a member of the “millennial” generation, or those born between 1981 and 2000.
The reason? Recruiters say millennials in interviews wear the wrong attire, text their friends, haven’t done their research on the company, are overconfident in their abilities and don’t ask enough questions.
See “How New Grads Can Get in the Door for a Job Interview” for tips on how to get an interview.
Jobs are still out there
Despite the news of doom and gloom, there are still businesses that are hiring, and many of them are in industries tailor-made for younger workers.
According to an IBISWorld study, the fastest-growing industries over the last 10 years are tech and online industries, with social network game development and e-book publishing topping the charts.
Many of these fast-growing industries are dominated by young workers, who grew up playing with computers and surfing the internet.
Some manufacturing jobs are also making a comeback in the U.S., meaning that blue-collar jobs may be opening up for young workers looking to gain work experience and a steady income.
Submit Your Student Voice
Tooltip of RSS content 3
Rising ocean temperatures threaten world’s coral reefs
Rising ocean temperatures resulting from climate change are killing coral reefs across the planet. Continue readingclimate changecoral bleachingcoral reefsecologymarine biology
Supreme Court confirmation hearing begins for Gorsuch
Confirmation hearings for President Donald Trump’s Supreme Court nominee Judge Neil Gorsuch began this week. Continue readingcivics & governmentNeil GorsuchSocial StudiesU.S. Supreme Court
How one female ice hockey player from the United Arab Emirates is living her dream
The National Hockey League celebrated ‘Hockey is for Everyone’ in February, as a time for promoting inclusiveness and a positive environment for all–including both men and women. Continue readinggenderice hockeyIslamUAEWashington CapitalsWomen's History Month
Federal courts rules Texas gerrymandering unconstitutional
A panel of federal judges in Texas ordered the state to redraw its congressional district map because it discriminates against Hispanic voters. Continue readingCivicsconstitutiongerrymanderhispanicracismSocial StudiesTexasvoter ID lawvoting rights act
Republican health care bill faces opposition from within party
Republican lawmakers introduced their replacement for former President Barack Obama’s Affordable Care Act (ACA) this week, but face opposition from both Democrats and members of their own party as they push to move the bill through committee and into the U.S. House of Representatives for a vote. Continue readingCongressGovernment & Civicshealth careObamacareSocial StudiesU.S. House of Representatives