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Unemployment rate for 18-29's up again

Posted: Updated: Oct 5, 2012 09:20 AM

WASHINGTON, D.C., (KNOE 8 News) - Generation Opportunity, a Washington-based nonprofit is saying that the unemployment rate among America's 18-29's, is currently running just under 12%.

According to the Generation Opportunity, the non-seasonally adjusted 18-29 unemployment rate data for September 2012 stands at 11.8 percent. The report goes on to say:

  • The youth unemployment rate for 18-29 year old African-Americans for September 2012 is 21.0 percent (NSA); the youth unemployment rate for 18-29 year old Hispanics for September 2012 is 12.1 percent (NSA); and the youth unemployment rate for 18–29 year old women for September 2012 is 11.6 percent (NSA).
  • The declining labor force participation rate has created an additional 1.7 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.
  • If the labor force participation rate were factored into the 18-29 youth unemployment calculation, the actual 18-29-unemployment rate would rise to 16.6 percent (NSA).

Generation Opportunity President Paul T. Conway, former Chief of Staff of the United States Department of Labor and former Chief of Staff of the United States Office of Personnel Management, issued the following statement in response to the September 2012 jobs numbers:

"11.8 percent of young Americans are now unemployed through no fault of their own and more still are falling out of the workforce due to an historic lack of opportunity. These numbers tell a devastating story – a story we cannot afford to ignore or hope away. The risk is far too high, as the promise of America is slipping past an entire generation. As fellow citizens, we have an obligation to act, to create opportunity, and to offer real hope and independence to young Americans."

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