Joblessness in America has been a major topic of discussion for the last couple of years, and now teens are the latest group of workers to be affected by the economy. According to June employment data released by the Bureau of Labor Statistics, the teen unemployment rate has reached 29 percent, which is about three times the national jobless rate.
This June, teen job growth dropped to its lowest level since 1951, and workers ages 16-19 only showed employment growth by 497,000 jobs compared to 698,000 in June 2009, reports Daily Finance. Overall, teen summer employment has grown by just 503,000 this year, a 38 percent dip from the 809,000 teen jobs added last May and June.
"This could end up being the worst teen summer job market in employment records going back to 1948," says John A. Challenger, CEO of the employment services firm Challenger, Gray & Christmas. "With data now suggesting that consumers are pulling back on spending, it is unlikely that a late hiring surge will salvage the dismal summer job situation for the nation's youngest workers."
Right now, this is a major bummer for teens who are looking for a job -- it'll be harder to earn pocket money and save for college and other goals -- but the lack of employment may also affect teens long-term. "If teenagers -- especially those from low-income or even working-class families -- can't get summer jobs, that means they will have less work experience in the future," Michael W. Brandl, professor of finance at the University of Texas at Austin says.
But you shouldn't give up hope. If you're looking for work, keep putting yourself out there, and check out these helpful job tips that may make a difference. Have you had a hard time finding a summer job? Or were you lucky enough to score a gig early? Tell us about your experiences in the comments below. %Poll-49368%