Some good news for young teen workers
We all watch carefully the various employment numbers that come out each month.
We all know, or think that we know, that the economy is not growing as fast as we would like.
How fast it should grow is a question that we should all ask and seek answers for — as far back as 2009 a great many economists did not see it growing faster than it currently is; 2017 is and has long been the predicted year for earliest full jobs recovery at 2007 levels — which is not necessarily great news considering that we must create 150,000 new jobs per month just to keep up with population growth.
Politicians and their predictions for jobs recovery are a different lot with their predictions often much rosier and seldom reflective of factual reality. Their reality is that they wouldn’t get reelected so often if they focused on the general facts and models used by the academics (models are indeed a theory, but a model that is mostly right 70-80% of the time is fairly accurate for practical purposes).
As for good news, and not so good news:
— Employment for women ages 20+ has dropped 9/10th of 1% over the last year.
— Employment for men ages 20+ has dropped 2/10th of 1% over the last year.
The above is not good news for those that lost jobs, BUT their jobs were not lost in a purely bookkeeping sense of things. Those jobs migrated.
GOOD NEWS for younger teen workers: employment for those aged 16-19 has risen a full 2.8% over the last year … which fully offsets the jobs loss by older workers, regardless of gender.
Essentially companies have begun hiring the young, energetic and generally childless. And they are cheaper too.
Source: Bureau of Labor Statistics, Table A-2. Employment status of the civilian population by race, sex, and age, updated April 2012.