Saturday, December 3, 2011

US: Young workers getting hired again

Some 650,000 workers aged 16 to 24 found employment in the past three months, the biggest spike for that age group since the recession began, according to Labor Department statistics.  (See Graph from the source website)

The percentage of 16- to 24-year-olds with jobs fell to as low as 44.6% of their age group, down from 52.2% at the start of the recession.

Certainly, people of all ages suffered. But the share of those in their working prime, age 25 to 54, who had jobs fell only 5 percentage points to 74.7% at its worst, while the percentage of employed older folks held fairly steady.

Still, labor market experts say the revival may not be so rosy for those just starting out. Many economists say it may not last, particularly if there's another downturn. Younger workers are often the first to get fired.

Source: http://money.cnn.com/2011/12/01/news/economy/young_workers_employment/index.htm

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