Thursday, April 14, 2011

Teen Unemployment is 25% and Rising

They say the children are our future. If that's the case we're headed for trouble.

Teens typically are the first to be fired and the last to be hired back in a normal economic cycle, so this rate can be considered a kind of leading indicator of employment.

Due to a sinking economy and minimum wage laws, teens are becoming increasingly unemployable. Who wants to pay $7 an hour to train a teenager, when you can hire an experienced adult for the same price?

The minimum wage for young people causes more harm than good. An increasing portion of young people are unable to gain any work experience. They get experience by working unpaid internships. To cover living expenses they burden parents or take on debt.

If this is our future, we should rethink our present.

No comments: