Youth Unemployment at 16.1% in July

Generation Opportunity, a national, non-partisan youth advocacy organization, is announcing its Millennial Jobs Report for July 2013. The data is non-seasonally adjusted and is specific to 18-29 year olds.  The effective unemployment rate for 18-29 year olds, which adjusts for labor force participation by including those who have given up looking for work, is 16.1%. The declining labor force participation rate has created an additional 1.8 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. Generation Opportunity is a national, non-partisan organization advocating for economic opportunity for young people through less government and more freedom.