Generation Opportunity, a national, non-partisan youth advocacy organization, is releasing its Millennial Jobs Report for March 2014. The data is non-seasonally adjusted (NSA) and is specific to 18-29 year olds:
• The effective (U-6) unemployment rate for 18-29 year olds, which adjusts for labor force participation by including those who have given up looking for work, is 15.5 percent (NSA). The (U-3) unemployment rate for 18-29 year olds is 8.9 percent (NSA).
• The declining labor force participation rate has created an additional 1.916 million young adults that 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 effective (U-6) unemployment rate for 18-29 year old African-Americans is 23.6 percent (NSA); the (U-3) unemployment rate is 19.4 percent (NSA).
• The effective (U-6) unemployment rate for 18-29 year old Hispanics is 16.2 percent (NSA); the (U-3) unemployment rate is 11.1 percent (NSA).
• The effective (U-6) unemployment rate for 18-29 year old women is 13.1 percent (NSA); the (U-3) unemployment rate is 8.2 percent (NSA).
Patrice Lee, Director of Outreach at Generation Opportunity, issued the following statement:
"Chronic unemployment and underemployment continue to plague my generation and this month’s report shows we aren’t making any meaningful progress. But April brings us one month closer to November. If politicians keep passing laws that hurt young people (and I have no doubt they will), we’ll have the opportunity to hold them accountable."
Generation Opportunity is a national, non-partisan organization advocating for economic opportunity for young people through less government and more freedom.
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