15.9% of Young People Still Out of Work in November
Generation Opportunity releases Millennial Jobs Report
Washington, DC – (12/6/13) – Generation Opportunity, a national, non-partisan youth advocacy organization, is announcing its Millennial Jobs Report for November 2013. The data is non-seasonally adjusted (NSA) and is specific to 18-29 year olds:
- The effective (U-6) unemployment rate for 18-29 year olds, which adjusts for labor force participation by including those who have given up looking for work, is 15.9 percent (NSA). The (U-3) unemployment rate for 18-29 year olds is 10.0 percent (NSA).
- The declining labor force participation rate has created an additional 1.844 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 effective (U-6) unemployment rate for 18-29 year old African-Americans is24.4 percent (NSA); the (U-3) unemployment rate is 17.9 percent (NSA).
- The effective (U-6) unemployment rate for 18-29 year old Hispanics is 16.9 percent (NSA); the (U-3) unemployment rate is 10.9 percent (NSA).
- The effective (U-6) unemployment rate for 18-29 year old women is 13.8 percent(NSA); the (U-3) unemployment rate is 9.5 percent (NSA).
Evan Feinberg, President of Generation Opportunity, issued the following statement:
"The economy has been terrible for young people for five years now, and President Obama has responded by asking my generation to foot the bill for more government spending and pay more for healthcare coverage through Obamacare.
"Thankfully young people know a bad deal when we see one and are overwhelmingly choosing to Opt Out of Obamacare, opposing generational theft.
"This disastrous healthcare law has finally caught up with the President and his approval rating among young people is collapsing alongside Obamacare itself."
On Wednesday Harvard's Institute for Politics released a new poll of 18-29 year olds:
- 41% of 18-29 year olds approve of President Obama's job performance, the lowest approval rating recorded during his entire presidency
- The President's approval rating has dropped 11 points among this group since the last poll in April 2013
- Only 3 out of 10 young Americans (18-29) plan to enroll in the government exchanges.
- 57% of Millennials disapprove of Obamacare.
- Only 18% say Obamacare will improve their care.
- If a recall election were held today 52% of young Americans 18-24 would vote to recall President Obama.
Generation Opportunity is a national, non-partisan organization advocating for economic opportunity for young people through less government and more freedom.