The future of America is concerning, considering youth unemployment has been “way too high for way too long,” the president of Generation Opportunity said Friday in a prepared statement Friday.
And as youth unemployment continues to decline, many of these 18- to 29-year-olds have given up looking for work, but, the ones that have given up aren't technically considered what we call "unemployed" in the government's eyes.
According to the Millennial Jobs report released Friday by Generation Opportunity, the declining labor force rate has created an additional 1.95 million young adults that are not counted as "unemployed" by the U.S. Department of Labor. This is because they are not in the labor force, meaning, these young people have "given up looking for work due to the lack of jobs."
Evan Feinberg, president of Generation Opportunity, criticized the government for ignoring America's high youth unemployment.
"Instead of working to create opportunities for my generation, the administration is busy dreaming up new big government schemes that rob us of our prosperity and threaten our future well-being," he said. "If government insists on waging this War on Youth, we will have no choice but to fight back and hold them accountable."
The current unemployment rate for people aged 18-29 is 15.8 percent when adjusted for those who have given up looking for work. When adjusted for the non-giver-uppers, it's 11.4 percent. This percentage is much higher than the national unemployment rate for February, the report said.
When the unemployment rate is broken down into race and gender, the numbers ring in differently.
For 19-29 year old African Americans, the unemployment rate is higher than the overall rate at 19.3 percent.
For Hispanics, it's 12.5 percent.
Women however, may have the upper hand, as unemployment was lower than the overall rate at 9.7 percent.
Generation Opportunity, a national, non-partisan youth advocacy organization, released Friday its Millennial Jobs Report for February. The data was adjusted and is specific to 18-to 29-year-olds.
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