
Economists don’t see much relief for unemployed teenagers in a recession that has trimmed hires and pulled many adults into the scramble for jobs typically held by teens.
Unemployment of people ages 16 to 19 was a seasonally adjusted 23.8% in July after hitting a quarter-century high of 24% in June, the government said last week. That compared with last year’s summer peak of 20.5%.
For white teenagers ages 16 and up, July’s jobless rate of 22.2% was the highest since record-keeping began in 1954; among African-American teens, it was 35.7%, nearly four times the national average of 9.4%.
Layoffs and stock-market losses have increased parents’ reliance on kids’ part-time jobs to help pay for ever-rising college costs.
A weak youth labor market is putting “a real crimp” in Americans’ ability to afford a four-year degree, said Harvard University labor economist Lawrence Katz.
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