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JULY 07, 2010
Tough summer job market for teens shaping up as a modern record.. for worst
The latest from outplacement firm Challenger Gray & Christmas:
Employment among 16- to 19-year-olds grew by just 497,000 jobs in June, according to non-seasonally adjusted data from the Bureau of Labor Statistics. That is down 29 percent from 698,000 teen jobs in June 2009 and the lowest mid-summer job growth for this age group since 1951, when employers added only 455,000 teens during the month. Overall, teen summer employment has grown by 503,000 this year, a 38 percent drop from the 809,000 teen jobs added in May and June a year ago.
“This could end up being the worst teen summer job market in employment records going back to 1948,” said John A. Challenger, chief executive officer of global outplacement firm Challenger, Gray & Christmas, Inc. “With data now suggesting that consumers are pulling back on spending, it is unlikely that a late hiring surge will salvage the dismal summer job situation for the nation’s youngest workers.”
Teen unemployment is currently more than double the national average, with 29 percent experiencing unemployment, compared to 9.6 percent of the overall population (using unadjusted figures).
Posted by Jeff Harrington at 2:02:29 pm on July 07, 2010 in
- bureau of labor statistics
- Challenger Gray & Christmas
- Florida unemployment
- outplacement firm
- teen jobs
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