Arlington, VA – The Millennial Jobs Report for the month of November 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 1.855 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 16.5 percent (NSA); the (U-3) unemployment rate is 14.6 percent (NSA).
- The effective (U-6) unemployment rate for 18-29 year old Hispanics is 13.8 percent (NSA); the (U-3) unemployment rate is 9.3 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 7.2 percent (NSA).
Generation Opportunity National Spokeswoman Patrice Lee issued the following statement:
“Youth unemployment is stalled at 13.1 percent for the third month in a row. According to the Kauffman Foundation, ‘new businesses account for nearly all net new job creation’ and ‘companies less than one year old have created an average of 1.5 million jobs per year over the past three decades.’ Our generation is looking for fresh ideas that remove barriers to opportunity and make it easier for startups and entrepreneurs to create jobs.”
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About Generation Opportunity
Generation Opportunity is a national, non-partisan organization advocating for economic opportunity for young people through less government and more freedom.