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The Class of 2014

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The Class of 2014

The Weak Economy Is Idling Too Many Young Graduates

EPI,

5 min read
5 take-aways
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What's inside?

After a long, lingering economic slowdown, US high school and college graduates face an uphill battle.

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Editorial Rating

8

Qualities

  • Analytical
  • Visionary
  • Background

Recommendation

Despite an improving economy, the Economic Policy Institute’s report card on America’s Class of 2014 marks its prospects as dismal: The US unemployment rate for people younger than 25 is twice as high as it is for the rest of the population, and that has been the case for years. Many university graduates are taking lower-level jobs that don’t require a college degree, while others work part-time without health insurance or pension coverage. And inflation-adjusted wages have shriveled since 2007. getAbstract suggests this sobering report to anyone interested in learning about job prospects for those under age 25 and what the economic future may hold for them.

Summary

The US unemployment rate has historically been about twice as high for young people (those younger than 25) than for the rest of the population. In March 2014, American youth faced a jobless rate of 14.5%, while general unemployment stood at 6.7%. But the sluggish pace of economic recovery since the Great Recession has meant fewer jobs for successive waves of new graduates. The picture is grimmer than it appears, since unemployment statistics don’t include the many young people who have ceased looking for work; with college enrollment down since...

About the Authors

Heidi Shierholz is an economist at the Economic Policy Institute, a nonpartisan think tank, where Alyssa Davis and Will Kimball are research assistants.

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