Seeking Alpha

From BLS:

The youth unemployment rate (the unemployment rate for 16 to 24 year olds) was 18.5% in July 2009, the highest July rate on record for the series, which began in 1948 [see chart above].

Additionally, the male (19.7%) - female (17.3%) jobless rate gap of 2.4% in July 2009 for youth was the highest male-female gap since 1954 (2.5%), and 1949 (2.8%) (see chart below).

Bottom Line: Between the economic slowdown and the 24% increase in the minimum wage over the last years, the 16-24 year old group is having a rough summer. And it's especially bad for males in that age group, who are feeling the effects of the "mancession" along with males in other age groups.


This article is tagged with: Macro View, Economy
About this author: