A job used to be the next step after a diploma. But now, young people aren’t in any rush to start working.
Less than 78% of people aged 20 to 34 either have jobs or are looking for work, according to the Bureau of Labor Statistics. That’s down from the peak of 83% in 2000, and the lowest since the 1970s.
The biggest thing keeping young people out of work is the weak economy.
Recessions are particularly hard on the young, with last-in, first-out policies at many organizations and a preference at firms to freeze hiring before they start laying off employees, which hurts recent grads.
But there are other reasons as well — what economists call “structural changes” — that could mean a permanent shift in workplace demographics.
- Staying in school
- Living longer
- Living longer.
Chosen excerpts by Job Market Monitor. Read the whole story at
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