Unexpectedly Intriguing!
December 17, 2009

For the first time since April 2009 and the second time since April 2008, the overall employment situation improved in the United States in November 2009. Even for teens!

Number, Average Annual Number of Employed Individuals Age 16-19 Between January 2006 and November 2009 Compared to the previous month's data, the BLS' Labor Force Statistics indicate that 10,000 additional teens were counted as being employed than in the previous month, bringing that portion of the U.S. labor force up to 4,462,000. In October 2009, some 4,452,000 individuals Age 16-19 were counted as working, which marks the lowest point for U.S. teens since their employment levels began declining steadily in January 2007.

Compared to the peak of teen employment of June 2006 of 6,244,000, some 1,782,000 teen jobs, or 28.5%, have disappeared from the U.S. economy. Taking the average of the teen employment level for the year of 2009 through November, teen employment has declined by an average of 1,258,705 from its 2006 year-long average of 6,161,250.

Change in Number of Employed by Age Group Since Total Employment Peak Reached in November 2007 (as of November 2009) Since December 2007, which the National Bureau of Economic Research declared to be the peak of the previous expansion of the U.S. economy, making it the starting point for recession, the employment level for teens Age 16-19 has fallen by 1,399,000, representing 17.1% of the total decline of 8,163,000 jobs since the latest recession began as of November 2009. That compares with 1,529,000 for young adults of Age 20-24, who account for 19.0% of that decline. Together, individuals Age 16-24 represent 36.1% of all jobs lost since the declared beginning of the recession.

As a percentage of the entire U.S. labor force in November 2009 of 138,502,000, teens represent 3.22% and young adults Age 20-24 account for 8.99% of the total. Those Age 16-19 are therefore 5.3 times more likely to have been affected by job loss during the recession than their percentage representation in the U.S. workforce would suggest, while those Age 20-24 are 2.1 times as likely.

Of course, there's a reason for that!...

Percentage of Individuals Earning the Federal Minimum Wage or Less by Age Group, 2008

The good news is that at least one economist at the University of Chicago has begun to catch on to why teens and young adults would seem to be so disproportionately affected by disappearing jobs. Oddly, the economist only seems to think that it only became an issue in July 2009. Rather than, say, January 2007, when the people who might hire teens and young adults began reacting to the situation that developed by not creating jobs for these youngest, least educated and least experienced potential members of the U.S. workforce:

Percentage of Number Employed for Age 16-19 and Age 20+ from Levels Recorded in June 2006 (as of November 2009)

It's an odd thing, this kind of economic myopia!

Labels: ,

About Political Calculations



blog advertising
is good for you

Welcome to the blogosphere's toolchest! Here, unlike other blogs dedicated to analyzing current events, we create easy-to-use, simple tools to do the math related to them so you can get in on the action too! If you would like to learn more about these tools, or if you would like to contribute ideas to develop for this blog, please e-mail us at:

ironman at politicalcalculations.com

Thanks in advance!

Recent Posts

Applications

This year, we'll be experimenting with a number of apps to bring more of a current events focus to Political Calculations - we're test driving the app(s) below!

Most Popular Posts
Quick Index

Site Data

This site is primarily powered by:

This page is powered by Blogger. Isn't yours?

Visitors since December 6, 2004:

CSS Validation

Valid CSS!

RSS Site Feed

AddThis Feed Button

JavaScript

The tools on this site are built using JavaScript. If you would like to learn more, one of the best free resources on the web is available at W3Schools.com.

Other Cool Resources

Blog Roll

Market Links
Charities We Support
Recommended Reading
Recommended Viewing
Recently Shopped

Seeking Alpha Certified

Archives
Legal Disclaimer

Materials on this website are published by Political Calculations to provide visitors with free information and insights regarding the incentives created by the laws and policies described. However, this website is not designed for the purpose of providing legal, medical or financial advice to individuals. Visitors should not rely upon information on this website as a substitute for personal legal, medical or financial advice. While we make every effort to provide accurate website information, laws can change and inaccuracies happen despite our best efforts. If you have an individual problem, you should seek advice from a licensed professional in your state, i.e., by a competent authority with specialized knowledge who can apply it to the particular circumstances of your case.