Job seekers adjust their paperwork as they wait in line to attend a job fair in New York February 28, 2013. (Photo: Reuters)
The U.S. Bureau of Labor Statistics said Thursday the youth unemployment rate fell to 9.6% in July, down 1.9% from 11.5% in July 2016. The number of employed youth 16 to 24 years stood at 20.9 million in July 2017, with the percentage of employed youth increasing from 53.2% the previous year to 54.8%.
The month of July typically is the summertime peak in youth employment. From April to June, high school and college students search for or take summer jobs, and graduates enter the labor market to look for or begin permanent employment.
During that period, the Labor Department said via the BLS that the youth labor force–16- to 24-year-olds working or actively looking for work–grew “sharply” by 2.4 million. From April to July 2017, 16 to 24 year-olds saw a 1.9 million-job gain. The total youth labor force increased to 23.1 million in July, or 11.6%.
The labor force participation rate for youth was 60.6% in July, largely unchanged from a year earlier. For two decades leading up to 2010, youth labor force participation was trending down. It has held firm since 2010 and peaked at 77.5% in July 1989.
The Labor Department said earlier this month the U.S. economy added 209,000 jobs in July, labor participation increased and the overall unemployment rate was 4.3%. The unemployment rate is now at the lowest level it’s been since May 2001.
