Teenage Unemployment
From today's BLS employment report:
1. Overall unemployment rate for January: 4.6% (up from 4.5% in December)
2. Unemployment rate for teenagers: 15%
3. Unemployment rate for black teenagers: 29.1% (240,000 unemployed)
4. Unemployment rate for white teenagers: 13.2% (793,000 unemployed)
Bottom Line: There are currently more than 1 million unemployed teenagers who are actively looking for employment and are unable to find jobs.
Question: Will a 40% increase in the minimum wage make it EASIER or HARDER for these 1 million unemployed teenagers to find jobs? See the cartoon above for the answer.
1. Overall unemployment rate for January: 4.6% (up from 4.5% in December)
2. Unemployment rate for teenagers: 15%
3. Unemployment rate for black teenagers: 29.1% (240,000 unemployed)
4. Unemployment rate for white teenagers: 13.2% (793,000 unemployed)
Bottom Line: There are currently more than 1 million unemployed teenagers who are actively looking for employment and are unable to find jobs.
Question: Will a 40% increase in the minimum wage make it EASIER or HARDER for these 1 million unemployed teenagers to find jobs? See the cartoon above for the answer.
3 Comments:
England specifies a lower minimum wage, banded by age, for the under 22 year-olds. Would that help, or hinder?
The jobs that I did when I was a teen - fast food clerk, waitress, hospital aide, discount store clerk - are almost exclusively filled by immigrants with limited English skills.
At the same time, profits are at record levels.
As I see it, the problem is not that the minimum wage is too high, it's that finding frightened, desperate people to exploit is to easy.
The jobs that I did when I was a teen - fast food clerk, waitress, hospital aide, discount store clerk - are almost exclusively filled by immigrants with limited English skills.
At the same time, profits are at record levels.
As I see it, the problem is not that the minimum wage is too high, it's that finding frightened, desperate people to exploit is too easy.
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