The recent souring of the US economy has hit the retail and service industries particularly hard. It should come as no surprise then, that the job market for teenagers in 2008 is expected to be the weakest in 50 years, according to an article published Sunday in the New York Times.
This summer, only a third of teens between the ages of 16 and 19 can expect to find work. These figures are the lowest teen employment statistics since the US government began keeping track of the teenage workforce way back in 1948. The Center for Labor Market Studies at Northeastern University reported the dismal teen employment statistics last week.
Only eight years ago, more than 45% of teens between 16 and 19 were gainfully employed, according to government labor statistics. The projections for 2008 suggest that, at best, 33% of teens in the same age group will find work this summer, a significant drop.
Unfortunately, the numbers get even lower when you consider the employment rate for minorities. Only 21% of African-Americans between 16 and 19 are projected to find jobs in 2008. The numbers for Hispanics are only slightly better, with 31% expected to be employed according to US Labor Department research.
In times of recession the youngest employees are always the hardest hit. Adult workers with experience and seniority may also lose jobs, promotions and opportunities; but when an economic crunch hits, it is much easier to simply lay off the youngest employees, or put a freeze on hiring which disproportionately affects teens in need of a summer job.
The labor statistics for 2008 show that this is clearly happening, and that summer jobs, in particular, may be hard to find for teens. Rising gas prices and uncertainty about the general state of the economy is causing many retail and service employers to cut back on hiring. The retail and service sectors are traditionally the biggest employees of teens in the United States– the hiring slowdown in these sectors will mean that competition for even minimum-wage retail jobs is bound to be high this summer.
Luckily, the adult workforce has not been hit quite so hard by the recent lackluster performance of the US economy. But the teen employment rates have traditionally been a pretty good indicator of the overall state of the economy. When times are good, there are plentiful jobs for the youngest and least skilled workers. But when the economy slows down, it is the teens that are usually affected first, as retail as service based jobs began cutting back.
Actually, teens need to get creative and serve the entire world, through the internet, to make a lot more money that working the cash register at Wal-Mart!
Comment by Claude Gelinas — July 4, 2008 @ 12:13 am