The unemployment rate for young people aged 16 to 24 years old looking for summer work declined to a 17-year low, according to data from the Bureau of Labor Statistics.
The bureau looks at employment data for youth during the summer months from April to July, and found that in July the unemployment rate for this group was 9.6 percent. The agency uses July as a benchmark to compare from year to year since it is typically the peak in youth employment.
“During these months, large numbers of high school and college students search for or take summer jobs, and many graduates enter the labor market to look for or begin permanent employment,” the report states. “This summer, the youth labor force grew by 2.4 million, or 11.6 percent, to a total of 23.1 million in July.”
The rate of 9.6 percent seen in 2017 is the lowest level seen since 2000—a 17-year low. Youth unemployment peaked in years 2009, 2010, and 2011, when unemployment rates in July hit 18.5 percent, 19.1 percent, and 18.1 percent respectively.
Our 4th of July Super Sale has been extended! Get double Patriot Points and free shipping on the hottest items!