Saturday, March 15, 2008
Teen Unemployment Rate is 15.2%
Did you know that the unemployment rate for teenagers (15.2%) is 3 times larger than the overall unemployment rate (4.7%)?
You probably hear the 4.7% all the time, but rarely hear about the 15.2%.
As the economy closes in on a recession, high school students should pay closer attention to the unemployment rate, since it might have an impact on your summer job search.
The "Unemployment Rate" is the percentage of the U.S. labor force that is unemployed.
Here is how you find it:
It is calculated by dividing the number of unemployed individuals by labor force. The labor force is the sum of the number of people who are unemployed and the number of people who are employed.
Here are the latest unemployment numbers for February 2008.
Include all of the Labor Force 4.7%
Adult Men - 4.2%
Adult Women - 4.1%
Whites - 4.2%
Blacks/African Americans - 7.4%
Hispanics - 6.1%
Teenagers - 15.2%
Source - EconedLink