August 25, 2011
July Youth Employment Hits 63-Year Low
Just 48.8 percent of U.S. residents between 16 and 24 years old were employed in July 2011, the lowest rate since the Bureau of Labor Statistics started recording the data in 1948.
July is typically the peak of summer youth employment, and the number of unemployed young people rose 1.7 million between April and July to 18.6 million.
But the percentage of youth either working or looking for work was 59.5 percent in July, down 1 percentage point from the same month last year and 18 percentage points lower than the historical peak of 77.5 percent in 1989.
For young men, labor force participation rate was 61.4 percent. For young women it was 57.6 percent.
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