Saturday, 3 July 2010

Teens not looking for jobs pushes down US unemployment rate

A wonderful example of that lies, damned lies and statistics saying from the US employment figures released overnight.
Under the heading Fewest Teen Jobs added in June since 1951, the Calculated Risk website noted:
"Teens not looking for jobs - because the job market is so bad - actually helped push down the unemployment rate!"
How can this be you ask? Well it was all to do with the participation rate. June is normally the month when teenagers enter the workforce in the greatest number. This year, with unemployment at a very high level, many chose not to bother even trying to find a job which resulted in 256,000 teenagers "leaving" the workforce.
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