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Teens Face Summer Unemployment, as Jobless Adults Play World's Smallest Violin
May 2, 2011 11:20 AM
HELP NOT REALLY WANTED
According to a report released today by the
Center for Labor Market Studies
at Northeastern University, "only
one in four teenagers will hold a job
this summer" if current employment trends continues and that "no other age group has seen such a dramatic decline in their overall employment rate over the last decade."
In 2010, the employment rate for teens aged 16 to 19 was 26%, the lowest since World War II and almost half the 45% employment rate the same age group enjoyed in 2000.
Experts have long speculated on the lifetime effects unemployment can have on teens.
"Whenever there is fear and uncertainty and doubt, you're going to get a fair amount of anxiety about oneself, one's future and one's options for the future," Laura Kastner, a professor of psychiatry at the University of Washington in Seattle
told Live Science
last August. "Anything that disempowers you in your expectations and attitudes about the future is not necessarily going to put you on the best path."
Bad news for the kids, sure. But far worse news for the adults who, the same article
, "are accepting low-paying, low-skill jobs once filled by teens."
On a more optimistic note, today's 19 year-olds can look forward to full employment
once they reach their late 80s
No positions in stocks mentioned.
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