Unemployment has always been something that Americans have worried about since the great depression in which one in every four people was unemployed. High unemployment has an impact on every one even those whom are still currently employed. For example if the unemployment rate is particular high then even those with jobs get worried. Unemployment is also separated in to distinct categories base on which group is the focus of the study. The categories can be by race, age or location, for example the unemployment rate of those between the age of sixty and sixty-five could be compared those between the ages of thirty and thirty-five. These categories allow economist to see which groups are the best and which groups are worst off. One group particularly bad off is the age group referred to as teenagers. This paper is going to focus on how teenage unemployment affects the economy and what possible solutions there are.
For teenagers typically the best employment is during the summer months due to the fact that they are out of school and thus have an increased amount of leisure time and many places require an extra source labor in order to accommodate for the rush which typically occurs during the summer months (Hall, 2013). In the year 1999 just above fifty-two percent of teenagers from the age of sixteen to the age of nineteen were employed for a summer job, however; the current employment rate for the same age group was around 32.25 percent in the past June and July an extremely low number especially considering that this was the peak teenage employment season (Hall, 2013). This has been compared to the great depression by some due to the fact that the numbers are somewhat similar to those seen during the great depression, in fact Andrew Sum ,the director of the Center for Labor Market Studies, has dub the current trend “the Great Depression for Teenagers” (Hall, 2013).
The unemployment rate also varies by race in addition to age group (Hall, 2013). Currently for Caucasians the percentage of those who have a job is at 39.25 percent, for African-American the percentage is currently at 19.25 percent, and as for Hispanics the percentage is currently at 26.7 percent (Hall, 2013). In addition to race the income of the parents plays a role in the percentage for those who currently have a job (Hall, 2013). Thus when these factors are combined factors together it becomes apparent whom is the best off and who happens the worst off (Hall, 2013). For example forty-six percent of Caucasians whose parents have an income between one hundred thousand and one hundred and forty-nine thousand held a job during this past summer (Hall, 2013). On the other edge of the spectrum only 9.1 percent of African-American teenagers whose parents received an income of below twenty thousand per year were employed during this past summer and only 15.2 percent of Hispanic teenagers in the same situation of low parental income were employed during this past summer (Hall, 2013).