Teen unemployment skyrockets
Unemployment reached a 26-year high in the U.S. in October of 10.2 percent, and teenage workers are especially hard hit. Data from the U.S. Department of Labor show that teen unemployment has risen to a record 27.6 percent.
Not only has teen unemployment increased by 33 percent since last October, but the percentage of teens participating in the labor force, those who are looking for a job or currently have one, fell to 36.2 percent, its lowest point since recordkeeping began in 1948.
The hardest hit teenage group is young African-Americans, for whom the unemployment rate rose to 41.3 percent, an increase of nearly 28 percent from 2008, and over 4 times the national average.
To sign up for Mississippi Business Daily Updates, click here.
Twang & Tourism: The Country Music Trail
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Two BancorpSouth mergers delayed by federal inquiries
- Severstal selling plants, including Severstal Columbus
- Wasted away — Margaritaville in Biloxi to close by Sept. 19
- Moon River Foods creating 100 jobs in Mississippi Delta
- WILLOUGHBY: Broadband Voice founder Gary Watts isn’t afraid to take chances
- Communities awarded national Main Street accreditation
- Police find Attorney General Hood's stolen handgun
- Pickwick Pines settles lawsuit; pays $260K
- MSU sets new annual fundraising record of $106M-plus