15% of young people are unemployed in the US, which is approximately twice the national average. This is equivalent to over four million people under the age of 25 reportedly being willing and able to work but unable to find jobs, according to 2013 numbers from the US Bureau of Labor Statistics. An additional four million young people are underemployed, in which they work part-time when they desire full-time jobs, or in jobs that are below their employment qualifications. This decline in employment rates for young people is thought to be the result of less job opportunities for those without college degrees, which could be due to the increasing cost of higher education.
More about the youth unemployment rate:
- Approximately 14% of females under the age of 25 are unemployed, compared to 17% of males.
- Young people with college educations are up to 12% more likely to have jobs.
- It is estimated that unemployed young people may cost the US economy up to $25 billion US Dollars (USD) each year mainly due to less taxes collected, according to a 2014 Young Invincibles advocacy group study.
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Discussion Comments
Young and old, in this day and age, a lot of people seem to be unemployed because of the fact that employers are beginning to have much higher standards than they did before. In other words, they know that the economy is in bad shape, and because of this, they're looking for the best of the best. They take employment very seriously, and you should always make sure to handle your applications well, proofreading and avoiding grammar mistakes.
If one is worried about looking for a job after college, the best solution I have is to make sure you have a plan set up before you graduate. In other words, don't start looking once you graduate from college. I have had several friends who didn't have to worry about being unemployed, because they had a long lasting job during for several years. It's always good to have a plan, making sure you have a sense of direction.
In my opinion, one reason why so many young people are unemployed is because they're considered to be overqualified, as that happened to a friend of mine. To make a long story short, after graduating from college, he was desperate to find a job, and after searching for months, decided to apply to McDonald's. It turns out that they didn't hire him because he was a recent college grad, and were looking for someone who had lower standards.
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