Many companies featured on Money advertise with us. Opinions are our own, but compensation and
in-depth research determine where and how companies may appear. Learn more about how we make money.

Advertiser Disclosure

The purpose of this disclosure is to explain how we make money without charging you for our content.

Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

Earning your trust is essential to our success, and we believe transparency is critical to creating that trust. To that end, you should know that many or all of the companies featured here are partners who advertise with us.

Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

Opinions are our own and our editors and staff writers are instructed to maintain editorial integrity, but compensation along with in-depth research will determine where, how, and in what order they appear on the page.

To find out more about our editorial process and how we make money, click here.

By Jacob Davidson
August 14, 2014
A summer job at the beach club helped Jason Priestley's  90210  character save money for a new set of wheels.
A summer job at the beach club helped Jason Priestley's "90210" character save money for a new set of wheels.
¬©Aaron Spelling Productions—Courtesy Everett Collection

From April to July of this year, the number of employed youth between the ages of 16 and 24 increased by 2.1 million, according to a report released Wednesday by the Bureau of Labor Statistics. The total number of youth employed increased to 20.1 million.

July is usually peak employment time for young people, and the numbers reflect that. At the same time, as the number of 16- to 24-year-olds looking for work increases, so does their demographic’s unemployment rate. The number of unemployed youth also spiked from April to July, rising by 913,000 to 3.4 million, down from 3.8 million last summer.

Overall, youth unemployment declined year over year, but only slightly. Since last July, this group’s unemployment rate declined 2 percentage points, to 14.3%. The labor force participation among young people—the total number working or looking for work—was 60.5%, the same as the previous two summers.

As far as where these young people are working, traditional summer jobs remain the norm. One-quarter of employed youth worked in the leisure and hospitality industry, which includes food services, and another 19% worked in retail.

While summer jobs remain popular, they’re a lot less common than in previous generations. Prior to 1989, the July labor force participation rate for young men was in the 80% range, and the participation rate for young women peaked that year at 72.4%. Since then, however, the labor force participation rate among young people has drastically declined, decreasing by about 20% for men and roughly 15% for women.

 

Advertiser Disclosure

The purpose of this disclosure is to explain how we make money without charging you for our content.

Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

Earning your trust is essential to our success, and we believe transparency is critical to creating that trust. To that end, you should know that many or all of the companies featured here are partners who advertise with us.

Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

Opinions are our own and our editors and staff writers are instructed to maintain editorial integrity, but compensation along with in-depth research will determine where, how, and in what order they appear on the page.

To find out more about our editorial process and how we make money, click here.

EDIT POST