Millennial Unemployment Still At 13 Percent!

The Millennial Jobs Report for the month of October finds that 13.1 percent of 18-29 years olds are unemployed. The data is non-seasonally adjusted (NSA) and is specific to 18-29 year olds:  Millennial Jobs Report findings: The effective (U-6) unemployment rate for 18-29 year olds, which adjusts for labor force participation by including those who have given up looking for work, is 13.1 percent (NSA). The (U-3) unemployment rate for 18-29 year olds is 8 percent (NSA). The declining labor force participation rate has created an additional 1.838 million young adults that are not counted as “unemployed” by the U.S. Department of Labor because they are not in the labor force, meaning that those young people have given up looking for work due to the lack of jobs. The effective (U-6) unemployment rate for 18-29 year old African-Americans is 16.8 percent (NSA); the (U-3) unemployment rate is 14.8 percent (NSA). The effective (U-6) unemployment rate for 18-29 year old Hispanics is 13.7 percent (NSA); the (U-3) unemployment rate is 8.7 percent (NSA). The effective (U-6) unemployment rate for 18-29 year old women is 10.9 percent (NSA); the (U-3) unemployment rate is 7.6 percent (NSA).  Generation Opportunity National Spokeswoman Patrice Lee issued the following statement: "The economy may be turning around for some people, but young Americans are still struggling under double-digit unemployment, not to mention soaring higher education costs that show no signs of receding. Our generation is looking to policy leaders to embrace freedom and innovation, and to put an end to the burdensome regulations that close the door on opportunities we need to thrive."