Young adults aged 20-24

The same Political Calculations research illustrates a similar trend among young adults aged 20-24. Despite a continuing net loss of jobs from October 2008 to January 2009, it is shown that this trend “unexpectedly declined in February 2009″ and has continued doing so ever since. While the authors again predict gloomy prospects for this group following the passage of a higher minimum wage, the good news is that automotive industry turmoil has relatively little effect on this or the previous age group. Attempting to explain the somewhat brighter job prospects of these two age groups compared to older individuals, the authors cite “their lack of exposure to the current employment fallout affecting the auto industry.”

Adults aged 18-29

According to recent survey research conducted by Pew Research Center’s Social & Demographic Trends project, adults 18-29 have been hit exceptionally hard in terms of the job market. With double digit unemployment in many states, the job market has taken a bigger hit during this recession than in recent decades. We have already seen that most job losses since October 2008 have come at the expense of those 25 and older. However, even those younger than 25 are at a disadvantage, as many of these people are attempting to start careers following college or even potentially get their first job. In early June, the New York Times wrote about how frightening the job outlook is for these individuals:

“The unemployment rate rose to 9.4 percent in May, the government says. That is bad enough, but we’ve seen worse.

What is more alarming is the long-term unemployment rate. The government says that 4.5 percent of the work force has been out of work for 15 weeks or more. The worst previously seen — at least since 1948, when the government began counting people that way — was 4.2 percent, in December 1982.”

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