Youth and Income
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America is known around the world as the land of opportunity. All too often, however, opportunity only knocks for some. Despite the opportunities which abound in the United States, for example, youths aged 16 to 24 suffer from a far higher rate of unemployment than the rest of the population. The reasons for this disparity are both structural and societal. Young people do not have the experience or educational attainment typically to compete well in a slow economy when competition for scarce jobs is fierce. Despite this fact, however, American youth are employed in larger numbers than almost any other country in the world. The reasons for this are varied. On the one hand, American youth are expected to work from an early age and familial safety nets are not proffered as quickly in the United States as they perhaps are in other nations. On the other hand, the U.S. economy has been generating jobs despite the recession of the last few years and unemployment in America remains far lower than in most other countries. This paper will analyze the global youth economy by examining the situation of American youth in the United States economy. We will analyze their employment rates, explore the underlying trends, and discuss the role that race and geography play in youth employment. We will then apply the lessons that the United States youth economy has to offer to the developing world. In order to accomplish this, the paper will be organized into three overarching s
. . .
ed. However, the employment rate of students enrolled in school is 41 percent, while the employment rate of youth not enrolled in school is 71 percent. Over 60 percent of unemployed youth are not enrolled in school. Of those that are not enrolled in school, Blacks are much more likely to be unemployed than Whites or even Hispanics. The following table presents a more detailed analysis of these trends:
Table 3: Employment Rates by Age and Educational Attainment
Age/ Education
Popula-tion (000)
Labor Force
Not in Labor Force
Total
% of pop.
Em-ployed
% of pop.
Unem-ployed
% of work-force
All 16-24 Year Olds
36,504
22,484
61.6
19,847
54.4
2,637
11.7
14,020
Enrolled in Some School
20,173
9,293
46.1
8,283
41.1
1,010
10.9
10,880
-- High School
9,372
2,982
31.8
2,490
26.6
493
16.5
6,389
-- College
10,801
6,331
58.4
5,794
53.6
517
8.2
4,490
Not Enrolled in School
16,031
13,191
80.8
11,564
70.8
1,627
12.3
3,140
-- Male
8,560
7,485
87.4
6,578
76.9
907
12.1
1,075
-- Female
7,771
5,706
73.4
4,986
64.2
720
12.6
2,066
-- White
12,842
10,486
. . .
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Approximate Word count = 5998
Approximate Pages = 24 (250 words per page)
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