The unemployment rate for young adults is at its highest since 1948. It has become increasingly harder for young workers to enter the workforce due to their lack of experience and the dwindling availability of jobs. For those who are employed, the decrease in wages hasn’t helped things either.
- 21% of African-Americans ages 18-29 were unemployed in September 2012
- 12.1% of Hispanics ages 18-29 were unemployed in September 2012
- Unemployment among workers 18-29 rose to 12% in October 2012, far exceeding the overall unemployment rate.
The introduction of a subsidized job program could be the solution. Subsidized jobs can provide more than just income for unemployed youths; the opportunity gives young adults the paid experience their resumes need.
For more information on the study check out the full report here.