Teens Face Worst Summer Job Market in 41 Years

Thanks to a combination of a weak economy, high unemployment, high taxes even for low-income workers (ie. payroll taxes), the minimum wage, and student loans that give students less incentive to work, teens are facing the world job market in 41 years.

Jobs traditionally given to teens are apparently going to older workers who are willing to take low paying job to make ends meet. Employment among 20- to 24-year-olds grew by 270,000 in May, an unusual spike, considering that employment in the same age group fell by 261,000 in May 2009.

The reasons given for the terrible job market:

Jobs traditionally given to teens are apparently going to older workers who are willing to take low paying job to make ends meet. Employment among 20- to 24-year-olds grew by 270,000 in May, an unusual spike, considering that employment in the same age group fell by 261,000 in May 2009.

Another reason for slower hiring, experts said, is that the establishments that usually add summer help are also the places where Americans hit by the recession may be cutting back on spending. The majority of young Americans aged 16- to 24-years old worked in the leisure and hospitality industry last year at establishments such as theme parks, hotels and restaurants. The other popular industries were in retail and in education and health services, according to the Bureau of Labor Statistics.

In the good old days, students had to work to pay for their college. Now, with subsidized student loans, kids can go to school and push off paying for it until after they graduate. That was a great system when a college degree almost guaranteed you a job. But today, that is no longer the case and students are simply graduating with heavy debt and poor job prospects.

More teenagers should be working to get the experience they need for the real world; experience college does not give them. But minimum wage laws makes it too costly for many employers to hire unskilled labor while high tax rates give teenagers less of an incentive to work. Combine that with the weak economy and high unemployment and teenagers have very poor prospects. They will suffer for the rest of their lives as they forgo much-needed training early in their careers.

Advertisements

One response to “Teens Face Worst Summer Job Market in 41 Years

  1. Pingback: Teens Going Jobless This Summer. Minimum Wage Laws Partly to Blame. « The Path to Tyranny Blog

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s