by Calculated Danger on 8/13/2024 03:52:00 PM
Here’s a have a look at the change in teen employment over time.
The graph under reveals the employment-population ratio for teenagers (16 to 19 years previous) since 1948.
The graph is Not Seasonally Adjusted (NSA), to point out the seasonal hiring of youngsters throughout the summer time.
Just a few observations:
1) Though teen employment has recovered some for the reason that nice recession, general teen employment had been trending down. That is most likely as a result of extra persons are staying at school (a long run constructive for the financial system).
2) Teen employment was considerably impacted in 2020 by the pandemic.
Click on on graph for bigger picture.
3) A smaller proportion of youngsters are acquiring summer time employment. The seasonal spikes are smaller than in earlier many years.Â
The teenager employment-population ratio was 37.9% in July 2024, down from 38.0% in July 2023. The teenager participation price was 43.6% in July 2024, up from 43.1% the earlier July.Â
This has pushed the teenager unemployment price (NSA) as much as 13.2% from 12.0% in July 2023.
The decline in teenager participation is likely one of the causes the general participation price has declined (after all, the retiring child boomers is the primary cause the general participation price has declined during the last 20+ years).
