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Youth Unemployment at 15% in August

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Youth Unemployment at 15% in August

Washington, DC – (9/5/14) – Generation Opportunity, a national, non-partisan youth advocacy organization, is announcing its Millennial Jobs Report for August 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 percent (NSA). The (U-3) unemployment rate for 18-29 year olds is 10.1 percent (NSA).

The declining labor force participation rate has created an additional 1.946 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 22.4 percent (NSA); the (U-3) unemployment rate is 19.6 percent (NSA).

The effective (U-6) unemployment rate for 18-29 year old Hispanics is 15.8 percent (NSA); the (U-3) unemployment rate is 10.6 percent (NSA).

The effective (U-6) unemployment rate for 18-29 year old women is 12.8 percent (NSA); the (U-3) unemployment rate is 9.9 percent (NSA).

Patrice Lee, Director of Outreach at Generation Opportunity, issued the following statement:

“15% of young people are still out of work and it’s no secret why- government is too big, spending levels are too high, and opportunities for us are limited.

“As we continue to work hard to create opportunities, politicians in Washington continue to impose policies that harm us.

“More than ever, we need to work to elect officials that will fight for the interests of my generation and not continue the policies of generational theft that have prevailed under the current administration.”

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Millennial Jobs Report: 15.1% of Young People Out of Work in July

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Millennial Jobs Report: 15.1% of Young People Out of Work in July

Washington, DC – (8/1/14) – Generation Opportunity, a national, non-partisan youth advocacy organization, is announcing its Millennial Jobs Report for July 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 15.1 percent (NSA). The (U-3) unemployment rate for 18-29 year olds is 10.5 percent (NSA).

The declining labor force participation rate has created an additional 1.926 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 22.5 percent (NSA); the (U-3) unemployment rate is 20.6 percent (NSA).

The effective (U-6) unemployment rate for 18-29 year old Hispanics is 16 percent (NSA); the (U-3) unemployment rate is 11 percent (NSA).

The effective (U-6) unemployment rate for 18-29 year old women is 12.8 percent (NSA); the (U-3) unemployment rate is 9.9 percent (NSA).

Patrice Lee, Director of Outreach at Generation Opportunity, issued the following statement:

“My generation is scraping to get by. 15.5% of us are unemployed and desperately seeking full-time jobs. Nationally, college graduates owe an average of almost $30,000 in student loan debt. Entrepreneurial endeavors from ‘side hustles’ to full-time Internet businesses are a key to our current financial stability, freedom from debt, and future security.”

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Youth Unemployment hovers at 15.8% in February

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Youth Unemployment hovers at 15.8% in February

Washington, DC – (3/7/14) – 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, is15.8 percent (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 1.952million 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 13.4percent (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.”

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15.8% of Young People Still Out of Work in January

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15.8% of Young People Still Out of Work in January

Washington, DC – (2/7/14) – Generation Opportunity, a national, non-partisan youth advocacy organization, is announcing its Millennial Jobs Report for January 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 15.8 percent (NSA). The (U-3) unemployment rate for 18-29 year olds is 11.3 percent (NSA).

The declining labor force participation rate has created an additional 1.922 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 23.9 percent (NSA); the (U-3) unemployment rate is 20.1 percent (NSA).

The effective (U-6) unemployment rate for 18-29 year old Hispanics is 16.7 percent (NSA); the (U-3) unemployment rate is 12.2 percent (NSA).

The effective (U-6) unemployment rate for 18-29 year old women is 13.5 percent (NSA); the (U-3) unemployment rate is 9.9 percent (NSA).

Evan Feinberg, President of Generation Opportunity, issued the following statement:

“Young Americans can thank Obamacare for such a bleak jobs picture. The Congressional Budget Office wasn’t lying when it reported Obamacare will reduce the American workforce by an additional 2 million jobs over the next three years.

“15.8% of us are still out of work and we have almost nothing to show for it – fewer people have health insurance now than in 2009.”