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By USDR
Generation Opportunity, a national, non-partisan youth advocacy organization, is releasing its Millennial Jobs Report for February 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 15.8percent (NSA). The (U-3) unemployment rate for 18-29 year olds is 11.4percent (NSA).
- The declining labor force participation rate has created an additional 1.952 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 is23.8 percent (NSA); the (U-3) unemployment rate is 19.3 percent (NSA).
- The effective (U-6) unemployment rate for 18-29 year old Hispanics is 16.6percent (NSA); the (U-3) unemployment rate is 12.5 percent (NSA).
- The effective (U-6) unemployment rate for 18-29 year old women is 13.4 percent(NSA); the (U-3) unemployment rate is 9.7 percent (NSA).
Evan Feinberg, President of Generation Opportunity, issued the following statement:
“Youth unemployment has been way too high for way too long and politicians seem like they don’t even care about this mess that they created themselves.
“Instead of working to create opportunities for my generation, the administration is busy dreaming up new big government schemes that rob us of our prosperity and threaten our future well-being.”
“If government insists on waging this War on Youth, we will have no choice but to fight back and 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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