The (U3) unemployment rate for 18-29 year old African-Americans is 21.6 percent (NSA).
The (U3) unemployment rate for 18-29 year old Hispanics is 12.8 percent (NSA).
The (U3) unemployment rate for 18–29 year old women is 10.8 percent (NSA).
Here is the nitty-gritty on the weak job market: The declining labor force participation rate has created an additional 1.7 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 (U6) unemployment rate for 18-29 year olds, which adjusts for labor force participation by including those who have given up looking for work, is actually 16 percent (NSA). I also wanted to point out that 18-29 year old's are averaging roughly $27,000 in student loan debt, and since 1982, college tuition and fees have increased by 439% and student loan debt has grown 511% since 1999. So I really, really, seriously, want you to pay attention to the numbers I listed above. There is no reason that this group of individuals should have such horrible statistics. The information above was not shared on The White House's website the other day, they toted this > "New data out today (9/6/13) in the Bureau of Labor Statistics Monthly Employment Report show that of the increase in employment since the Affordable Care Act became law, more than 9 out of 10 positions have been full-time.The Affordable Care Act continues to improve the functioning of labor markets in a range of ways.'' When in actuality Americans hours rose from 34.4 hours to 34.5 hours "hmmm". Overall August seen Unemployment numbers fall from 7.4% to 7.3% but not because Americans found work; 312,000 Americans stopped working or looking for work. With the new evidence presented I can not honestly say that I see much improvement at all. I also will not kiss any butts or sing praises like many ((Ahem)) most of the newspapers I have read lately.
Resource List:
BLS August Report
National Center for Public Policy and Higher Education
Institute for College Access & Success' Project on Student Debt
White House Gov.
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