Article by Bryan Howard
August 18, 2018
Bureau of Labor Statistics (BLS) released data Thursday, which show youth unemployment at a more than 50-year low.
President Trump ran to Twitter to tout these amazing economic statistics.
“Just announced, youth unemployment is at a 50 year low!”
The BLS announced Thursday, “From April to July 2018, the number of employed youth 16 to 24 years old increased by 2.0 million to 20.9 million.” The release continued, “The unemployment rate for youth was 9.2 percent in July, also little changed from July 2017”:
According to the Wall Street Journal, The 9.2 percent youth unemployment rate was the lowest since July 1966.
According to the BLS:
“The youth labor force–16- to 24-year-olds working or actively looking for work—grows sharply between April and July each year. During these months, large numbers of high school and college students search for or take summer jobs, and many graduates enter the labor market to look for or begin permanent employment This summer, the youth labor force grew by 2.6 million, or 12.7 percent, to a total of 23.0 million in July.”
Industries that are hiring the most youths from 16-24 this summer were leisure and hospitality (26%), retail trade (18%), and education and health services (11%), according to BLS.
The youth labor force participation in July 2018 was up 1.2 percent for women and down 1.2 percent for men over the year.
Trump next tweeted, “The U.S. has more than double the growth rate than it had 18 months ago”
Having a high youth participation in the work force could help combat the rise of Socialism in the United States.
Socialism ideas have been accepted by the Millennial generation because there was a lack of jobs when we came of working age. Half of us buckled down and worked hard through the recession while other Millennials gave up and went to victimhood way of thinking.
Let’s hope with Generation Z able to get jobs at young ages they will move away from Socialism because they will understand the value of a dollar and an honest day’s hard work.