Wednesday, November 19, 2014

Trouble Among the Young

Even though the unemployment rate has been dropping steadily this year, the aftereffects of the recession are still making it difficult for young workers to find stable, full-time work. The recession technically ended five years ago now, but most people aged 18 to 30 remain pessimistic or uncertain about their future employment prospects, according to a Federal Reserve survey published Tuesday.

According to the survey, 34 percent of younger workers said they were unsure of their future employment outlook, and another 21 percent said they were pessimistic. Just 45 percent said they were optimistic.

A look inside the unemployment numbers can help explain their fears. While the overall unemployment rate is at 5.8 percent, the jobless rate for Americans between the ages of 25 and 34 was 6.1 percent. And the unemployment rate for those aged 20 to 24 was all the way up at 10.1 percent.

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