Young adults drop out of the job market
By Chris Isidore @CNNMoney
September 7, 2012
Much of the drop in the August unemployment rate is due to a shrinking
labor force, driven by so many young adults who no longer having jobs
or have stopped looking for work.
NEW YORK (CNNMoney) -- The drop in the unemployment rate in August isn't particularly good news for the economy -- it's driven mostly by nearly 400,000 people dropping out of the labor force, rather than more people finding jobs.
But those dropping out aren't so much the discouraged 30-, 40- or 50-year olds. In fact, the Labor Department said there was a modest decline in the overall number of discouraged job seekers.
The drop is because so many young adults, aged 16 to 24, are no longer looking for work.
More: http://money.cnn.com/2012/09/07/news/economy/young-adults-jobs/index.html?hpt=hp_t1
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