Despite Modest Improvements in U.S. Job Market, Nearly a Quarter of Youth Unemployed

The unemployment rate may be slowly going down, but nearly a quarter of younger workers were out of the job in March, according to the United States Labor Department. The unemployment rate for 16- to 19-year olds rose to 24.5% in March, up from 23.9% in February. The total unemployment rate fell to 8.8% from 8.9%, the Labor Department reported in its latest jobs report. The news is certainly unwelcome for the vast majority of Americans, who likely know someone actively seeking a job. Compounding the trouble is the fact that teenagers are seen as expendable employees. According to a Reuters report, "Consider that the teen unemployment rate surged to 19 percent in May of 2008, even as the overall unemployment rate ticked only slightly higher to 5.4 percent. If the teen rate continues to diverge from the overall rate, then it could represent an early sign of stagnation in the overall economic recovery." On the brighter side, McDonalds Corporation
MCD
is looking to fill 50,000 temporary and permanent positions on Tuesday, April 19.

Posted In: Consumer DiscretionaryRestaurantsReutersUnemploymentNewsEcon #sEconomicsGeneral

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