Teenage Unemployment Rate Hits Record High

Strategic Insights -

The national teenage unemployment rate has reached 25.5 percent, triple the rate of adult employment. This is the highest level ever recorded since the Bureau of Labor started monitoring the teen unemployment rate in 1948. Students and experts alike are reacting to the tough job market, with many opting to focus on academics rather than seeking employment.

Key Takeaways:

  • The national teenage unemployment rate stands at 25.5 percent, with many students opting to focus on academics rather than seeking employment.
  • Students are not looking for jobs due to uncertainty and anxiety about rejection, with many preferring to stay in their comfort zone.
  • Recent college graduates are struggling to find jobs, with many employed in positions that do not require college degrees.
  • Many students, such as Nicholas Perry, are changing their majors to fields with higher employment rates.
  • Experts recommend that students start preparing for the job market as early as possible, with resources like resume consultations, practice interviews, and career fairs available.
  • Students, like Seth Fankhauser, are realizing the importance of starting early to prepare for employment after graduation.

Statistics:

  • 25.5 percent: national teenage unemployment rate
  • 3 times: adult employment rate compared to teenager unemployment rate
  • 1948: year the Bureau of Labor started monitoring teen unemployment rate
  • 50 percent: portion of college graduates under age 25 in jobs that do not require college degrees

Sources:

  • "Teen unemployment hits record high," Technician/UWire via COMTEX, Sept 14, 2009
  • Carolyn Schroeder, Director, North Carolina State University Career Center
  • Nicholas Perry, freshman in First Year College
  • Andrew M. Sum, economics professor, Northeastern University
  • Seth Fankhauser, freshman in animal science