WASHINGTON a€” For the fourth consecutive summer, teen employment has stayed anchored around record lows, prompting experts to fear that a generation of youth is likely to be economically stunted with lower earnings and opportunities in years ahead.
The trend is all the more striking given that the overall unemployment rate has steadily dropped, to 7.4 percent in August. Summer is traditionally the peak period of employment for teens as they are off from school and get their first brush with employment and the responsibilities that come with it.
The picture these teen employment statistics provide looks even worse when viewed through the complex prism of race. One of the more surprising findings of Suma€™s research is that teens whose parents were wealthy were more likely to have a job than those whose parents had less income. That finding is important because a plethora of research shows that teens who work do better in a wide range of social and economic indicators.
The teen employment numbers are calculated from the Current Population Surveys, carried out by the Census Bureau for the Labor Departmenta€™s Bureau of Labor Statistics. Unemployment data is calculated in a different fashion, and while it tells a similar story of hardship for teens, it is not considered by researchers to be as accurate as the employment data because it underestimates the severity of the slow economy. The weak employment numbers sometimes prompt a mistaken narrative that younger workers are just staying in college longer rather than entering the workforce, or are going on to graduate school given the impaired jobs market.
Even before the economic crisis exploded in the summer of 2008, workers ages 16 to 19 made up a declining share of the overall workforce, in part because of a decades-long climb in college enrollment, and in part because universities now place less importance on work and more on life experiences and community service. But most of this decline in youth in the workforce is thought to be the result of the severe economic crisis and its aftermath, with older workers taking the jobs of teens.
It is pretty well established that a tax increase, especially an income tax increase, will have an immediate negative effect on the economy, with a multiplier of between 1 and 3 depending upon whose research you accept. Last week, I noted at the beginning of the letter that an unintended consequence of Obamacare is a rather dramatic rise in the number of temporary versus full-time jobs.
Fewer than one in four Americans have enough money in their savings account to cover at least six months of expenses, enough to help cushion the blow of a job loss, medical emergency or some other unexpected event, according to the survey of 1,000 adults. It wasna€™t so long ago that David Hutchinson spent a month sleeping under a bridge while his wife and young daughter spent their nights at a domestic violence shelter. Based on the list below, we would describe the United States as a service based nation of aging, vain, obese, shallow, financially illiterate boobs with bad skin and muscle aches, who love sports and entertainment, but cana€™t understand each other, and are addicted to their oil based suburban sprawl debt financed lifestyles.
Many occupations with extreme job growth in the past few years owe at least part of their growth to the changing demographics of the United States. An aging population also has driven job growth in many occupations that are not directly related to retirement planning and care.
The growing Hispanic population, in conjunction with expanding international trade, are also factors behind the rising number of interpreters and translators, according to the BLS and Kohli. Personal care aides are in extremely high demand as the baby boom generation ages and the number of elderly Americans rises. The increased number of aging baby boomers approaching retirement and looking to manage their savings and assets has been one of the main drivers behind the growth in personal financial advisor jobs. The number of coaches and scouts rose from less than 100,000 in 2002 to more than 200,000 in 2012. The reason for the growth in massage therapists jobs has been a rise in the number of spas and massage clinics, according to the BLS. As international trade expands and globalization continues, the need for interpreters and translators should continue to rise, according to the BLS. Petroleum engineers are some of the highest paid workers in the nation, with a median wage that exceeded $130,000 in 2012.
No occupation has grown faster than service unit operators working in natural resources extraction, where the number of workers jumped from just over 12,000 in 2002 to more than 57,000 in 2012. And employers in recent months have been collectively adding almost 200,000 new jobs a month. Falling teen employment, however, is just as striking in the 12-month numbers over the past decade.
Sum and colleagues did just that, comparing June and July 2000 and the same two months of 2013. The plunging teen employment rate is likely to mean trouble for this generation of young workers of all races.


This survey of households is used in determining estimates for the size of the civilian workforce, the number of employed nationally and the unemployment rate. Labor force participation is as low as ita€™s ever been,a€? said Keith Hall, who served as commissioner of the Bureau of Labor Statistics from 2008 to 2012.
Because of the so-called Great Recession and the sluggish growth thata€™s followed, middle-age and older workers are not moving up the career ladder. As far as I am aware, no peer-reviewed study exists that concludes there will be no negative effects.
This trend results from employers having to pay for the health insurance of employees who work more than 29 hours a week. The survey includes part-time workers who want full-time work but can't get it, as well as those who want to work but have stopped looking.
Charles Gave wrote a withering indictment of quantitative easing this week (which we will look at in a few pages) and included the following chart, which caught my eye.
There are no decent jobs for young workers, more children are living in poverty, and more workers are living paycheck to paycheck. Increasingly disconnected from institutions of work, family and community, they grow up by learning that counting on others will only hurt them in the end. Meanwhile, 50% of those surveyed have less than a three-month cushion and 27% had no savings at all.
But despite past decadea€™s painful recession and the slow job growth that has followed, several occupations have more than doubled the number of workers employed.
According to BLS Chief Regional Economist Martin Kohli, a€?The aging of the population is one of the factors that is driving the demand for massage therapists.a€? An aging population a€?is also a factor in the demand for coaches,a€? Kohli said.
For both petroleum engineers and service unit operators in the resource industry, the nationa€™s two fastest-growing jobs, growth likely is due largely to changes in the energy sector.
But while the total number of such aides doubled between 2002 and 2012, with nearly a million working in the field as of 2012, it remains a high turnover job because of the typically low pay and the high emotional toll. Another key driver has been the rise in private sector retirement planning as a result of pension shortfalls. Several factors have driven job growth of coaches and scouts, and the same factors are expected to continue to drive further growth. The number of workers employed as human resources specialist rose by more than 225,000 between 2002 and 2012. The Bureau also cites an increase in the nationa€™s elderly population as contributing to demand for massage therapists.
Already, the number of employed translators has jumped from less than 20,000 in 2002 to more than 50,000 in 2012.
Their work typically involves assessing and planning drilling operations, as well as determining the equipment and methods necessary to extract oil and natural gas in the most efficient way possible. Workers in these fields typically are responsible for overseeing and maintaining wells and other technology used in extracting natural resources. The US economy is soft; employment growth is weak a€“ and yet we are about to see a significant middle-class tax increase, albeit a stealth one, passed by the current administration. The June survey reported that in June full-time jobs declined by 240,000, while part-time jobs soared 360,000 and have now reached an all-time high of 28,059,000 a€“ three million more part-time positions than when the recession began at the end of 2007.
Note that the relative increase in part-time jobs began prior to Obama's even assuming office. Adulthood is not simply being delayed but dramatically reimagined along lines of trust, dignity and connection and obligation to others.
There were just no shelters in Phoenix with room for another homeless family, and their top priority was finding a safe place for their daughter. Both the rise in oil prices, as well as the need to produce from unconventional sources, such as shale oil, have been beneficial to workers in these occupations.
Among the services they provide are skin cleanings, advice on proper skin care and removal of unwanted hair. Even the top 10% of home care workers earned just $27,580 last year, when the median wage for employees across all occupations was $34,750.
The resulting cuts to retireesa€™ benefits mean ever more individuals turn to financial planners in order to better plan for later in life.


A growing number of retirees with time to participate in sports such as golf and tennis is a major source of demand for coaches. One major factor contributing to job growth a€“ and that is expected to continue to contribute a€” is the increase of firms in the employment services industry as companies outsource human resources tasks. The median salary for employed massage therapists was just under $36,000 last year, but the majority are self-employed and most work only part time. As the nationa€™s Hispanic population grows, interpreters and translators also will be needed. Another factor driving job growth for this occupation is the expected greater need for original music scores or transcriptions used in commercials and movies. Petroleum engineers are required to have a bachelora€™s degree in engineering and must pass a licensing exam and have four years of work experience to be licensed. Workers are most often employed in oil and gas producing states, such as Texas, Oklahoma, Louisiana and North Dakota. Download North Carolina READY End-of-Course Assessment Math I RELEASEDMATH Ia€”RELEASED FORM 4 Go to the next page.
I will acknowledge that dealing a blow to the economy was not the actual plan, but that is what is happening in the real world where you and I live.
Casey Foundation shows the number of children living in poverty increased to 23 percent in 2011, after the recession. The nationa€™s aging population and changing energy needs played major roles in driving disproportionate job growth for many of the occupations listed. The program is intended to be a sample of the overall workforce, and estimates are subject to sampling error. Vocational schools usually offer cosmetology programs, which skin care specialists typically complete.
But schools and universities are actually the largest source of jobs for coaches, according to the BLS.
Most human resources roles require a bachelora€™s degree, and interpersonal skills are also very valuable.
In addition to musical talent and mastery of a variety of instruments, those in this occupation, especially the ones writing and conducting classical music, usually have a bachelora€™s degree. Oil prices play a major role in determining job outlook for petroleum engineers, partially because higher prices improve incentives to explore and produce oil from newer, more challenging sources.
There are several potential reasons for the professiona€™s explosive job growth, including rising energy prices and the increased extraction of non-conventional fuel sources. This week we will briefly look at why weak consumer spending is going to become an even greater problem in the coming years, and we will continue to look at some disturbing trends in employment. We look around and see that we value fancy new leased or financed cars, financed McMansions, fastfood, and lots of shopping outlets.
Job growth in college sports, especially womena€™s sports, is expected to be a key driver of employment growth in the field going forward. The top-paid 10% of translators earned more than $91,800 annually last year, while the bottom 10% earned less than $23,570. About 10% of music directors and composers earned less than $21,450 annually, while the top 10% made more than $86,110, a high annual income compared with the same top 10% of other occupations on this list.
In the past decade, oil prices have risen dramatically, possibly accounting for much of the professiona€™s estimated 227% job growth. Pay for many financial planners is quite high, with the top 25% of professionals taking home at least $111,450. Only occupations that existed in both 2002 and 2012 were considered, and any occupations split-up or consolidated between these periods were excluded. Further information on each occupation came from the BLSa€™s Occupational Outlook Handbook. Download MAYAN MATHMaya Mathematics Math was a part of the Mayan culture with their numbers existing as far back as the 400AD.




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