16.1% Of Young People Out Of Work In May

Unemployed College Grad Obama SC 16.1% of Young People Out of Work in May

Washington, DC – Generation Opportunity, a national, non-partisan youth advocacy organization, is announcing its Millennial Jobs Report for May 2013. The data is non-seasonally adjusted (NSA) and is specific to 18-29 year olds:

  • The effective unemployment rate for 18-29 year olds, which adjusts for labor participation rate by including those who have given up looking for work, is 16.1 percent (NSA).
  • The declining labor force participation rate has created an additional 1.7 million young adults who are not counted as “unemployed” by the U.S. Department of Labor because they are not in the labor force, meaning that those young people have given up looking for work due to the lack of jobs.
  • The unemployment rate for 18-29 year olds is 11.6 percent (NSA). The unemployment rate for 18-29 year old African-Americans is 21 percent (NSA); the unemployment rate for 18-29 year old Hispanics is 11.7 percent (NSA); and the unemployment rate for 18–29 year old women is 10.6 percent (NSA).

Evan Feinberg, President of Generation Opportunity and one of the first Millennials to run for Congress, issued the following statement:

“With today’s depressing unemployment numbers and an economy that has been down for years, it would be nice for people my age to think that someone is watching out for us. Knowing that someone in Washington had our back would be comforting – and might give us some hope. Sadly, in recent days we’ve only seen more of the same from this Administration.  We’ve witnessed President Obama state that more government involvement is the solution to unemployment, student loans, health care, etc. What has it gotten us? The highest sustained levels of youth unemployment since World War II, sky-high tuition and student debt, and rising insurance premiums. Government solutions aren’t solutions at all. Once again, Washington doesn’t get it.”

Generation Opportunity is a national, non-partisan organization advocating for economic opportunity for young people through less government and more freedom.

Follow us on Twitter: @GenOpportunity

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Comments

  1. Linda A. From NY says:

    It's hard to feel sorry for these young people unemployed, many of these young people voted for Obama. It is a fact that obama failed all of us with his lies of Hope and Change, what did these young people expect from obama the liar?. All of these people that voted for obama voted to be unemployed, higher gas prices, etc. and more of the same as before, but now it will be much worst.

    We can not afford 31/2 years of obama, obama will bring the Country down. That is why it is imperative that obama goes, before more damage is done.

    • RacerJim says:

      I don't feel sorry at all for those young Obama minions…not any more. During the 2008 and 2012 election cycles we older and wiser people literally went hoarse trying to explain to them whence Obama came, who/what he really was and what he really intended to do to this country. Not only did they…including my three nephews and one niece…not listen to us but, moreover, they disparaged us…often as being "so yesterday" Bible thumping, gun toting, over-Patriotic, intolerant, dumb/stupid/unintelligent bigots/racists. After 5.5 years of disrespect and insults from them there's not one iota of sorrow or respect left in me for them.

      In 2008 they inherited a 237 year old democratic republic and they effected its fundamental transformation into a tyrannical dictatorship in less than 5.5 years. If they don't like what they wrought they should once again gather by the hundreds of thousands in Washington DC…this time to remove from office the tyrannical dictator they put in office.

      Vietnam Veteran

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