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RECIPE FOR UNREST

I think this info is disturbing. We have an economy headed down. High School kids are out of school. The summer will be one of the hottest on record. Unemployment payments are running out. Social tensions are high. Below is a story from Calculated Risk. The link to the BLS data has some very interesting data:

  • The unemployment rate for all men ages 16 to 19 in the US is 31.5% versus 10.3% for all men.
  • The unemployment rate for all black people is 15.6% versus 8.7% for all white people.
  • The unemployment rate for black people ages 16 to 19 is a phenomenal 46.4%.
  • The unemployment rate for black men ages 16 to 19 is an astounding 48.6%.
     

These figures are breathtaking because there are 1.3 million black teenagers and these unemployment figures are only for the 389,000 who the government says are in the workforce. Another 925,000 black teenagers are classified by our beloved government as not in the workforce.

THE TRUTH IS THAT THE REAL UNEMPLOYMENT RATE FOR BLACK TEENAGERS IS 85%

No money, no prospects, no education, no motivation, no work ethic. This bodes well for society.

www.bls.gov/web/empsit/cpseea13.pdf

According to the BLS, only 497,000 teens (ages 16 to 19) found jobs in June 2010 NSA (June is the key months for summer employment). This is the fewest teen jobs added in June since 1951.

Click on graph for larger image in new window.

This graph shows the number of teens looking for work (lowest since 1954) and the number of teens found jobs in June (data is not seasonally adjusted).

This partially explains the large drop in participation rate in June – an extremely low number of teenagers joined the workforce, and this resulted in 256,000 teens leaving the workforce on a seasonally adjusted basis – of the total 652,000 total people leaving the workforce (seasonally adjusted).

Teens not looking for jobs – because the job market is so bad – actually helped push down the unemployment rate!

Teenage Employment June 2010