According to CBS News, unemployment rates for Americans under the age of 25 are the highest since the end of World War II. It's a situation that is unlikely to change anytime soon, according to a new report.
Since 2007, the average official unemployment rate for people under 25 has been 18 percent, 5.5 points higher than for the preceding 15 years, according to Bureau of Labor Statistics figures. This would seem to make the 16.2 percent rate for March look like an improvement.
But that rate, like the government's general unemployment rate, does not account for those who have dropped out of the labor force. Since 2007 the youth labor-force participation rate has dropped from 69 percent to 64.7 percent in 2012. Last month about 236,000 young people dropped out of the workforce. If you include them, the rate balloons to 22.9 percent and disturbingly close to the EU's 23.9 percent rate for the same age group.
More fresh graduates today have no work because the ratio of open jobs for them is lesser. If they want to lessen the rate of unemployed, they need to open more jobs by helping different kinds of companies that will be in need on them.
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