Generation Opportunity, a national, non-partisan youth advocacy organization, is announcing its Millennial Jobs Report for June 2013. The data is non-seasonally adjusted (NSA) and is specific to 18-29 year olds:
- 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 16.1 percent (NSA).
- 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 (U3) unemployment rate for 18-29 year olds is 12.7 percent (NSA). The (U3) unemployment rate for 18-29 year old African-Americans is 23.7 percent (NSA); the (U3) unemployment rate for 18-29 year old Hispanics is 13.2 percent (NSA); and the (U3) unemployment rate for 18–29 year old women is 11.6 percent (NSA).
How very, very sad. How long will liberals continues to support failed economic policies that have delivered fewer and fewer opportunities to the next generation — the generation, by the way, that is expected to shoulder huge new levels of debt from the massive government expansion and overspending of the last four years. Where will these 20-somethings finds jobs to support the tax burden that will be required of them? How will they prosper? How will they raise families?