Teenage Unemployment is very high
Economists don't see much relief for unemployed teenagers in a recession that has trimmed hires and pulled many adults into the scramble for jobs typically held by teens.
Unemployment of people ages 16 to 19 was a seasonally adjusted 23.8% in July after hitting a quarter-century high of 24% in June, the government said last week. That compared with last year's summer peak of 20.5%.
Traditional teenage jobs now draw competition, for example, from "stay-at-home moms looking to boost the family income to retirees seeking to supplement their pensions," said John Challenger, CEO of Challenger Gray & Christmas Inc., an outplacement firm.
For white teenagers ages 16 and up, July's jobless rate of 22.2% was the highest since record-keeping began in 1954; among African-American teens, it was 35.7%, nearly four times the national average of 9.4%.
Layoffs and stock-market losses have increased parents' reliance on kids' part-time jobs to help pay for ever-rising college costs. A weak youth labor market is putting "a real crimp" in Americans' ability to afford a four-year degree, said Harvard University labor economist Lawrence Katz. . . . .