Friday, July 02, 2010

Fewest Teen Jobs added in June since 1951

by Bill McBride on 7/02/2010 04:18:00 PM

According to the BLS, only 497,000 teens (ages 16 to 19) found jobs in June 2010 NSA (June is the key months for summer employment). This is the fewest teen jobs added in June since 1951.

Teen Employment Click on graph for larger image in new window.

This graph shows the number of teens looking for work (lowest since 1954) and the number of teens found jobs in June (data is not seasonally adjusted).

This partially explains the large drop in participation rate in June - an extremely low number of teenagers joined the workforce, and this resulted in 256,000 teens leaving the workforce on a seasonally adjusted basis - of the total 652,000 total people leaving the workforce (seasonally adjusted).

Teens not looking for jobs - because the job market is so bad - actually helped push down the unemployment rate!

Earlier employment posts today:

  • June Employment Report: 100K Jobs ex-Census, 9.5% Unemployment Rate for graphs of unemployment rate and a comparison to previous recessions.
  • Employment-Population Ratio, Part Time Workers, Unemployed over 26 Weeks with graphs - including recessions aligned at bottom.
  • Employment Report: Temporary Help and Diffusion Index