Teens Face Worst Summer Job Market in 41 Years
Joseph Pisani, CNBC, June 8, 2010
The kickoff to the summer job season is not looking so hot for teens.
Young Americans are expected to face a tough summer job market.
Employment among 16-to 19-year olds in May grew by just 6,000, the smallest increase since 1969, when teen jobs fell by 14,000, according to government data analyzed by employment firm Challenger, Gray & Christmas. In May 2008 and 2009, teen employment grew by over 110,000.
“It’s certainly a preliminary strong indication that it’s going to be a tough job market for teens,” said John Challenger, CEO of Challenger, Gray & Christmas.
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.
“Also impacting the job market for young adults are the large number of older adults who are willing to accept even a temporary, seasonal position simply to generate some income,” said Steven Rothberg, chief executive officer of CollegeRecruiter.com, an online entry-level job-posting site. (Read the full article)