Obama's Economy Hard on Youth, Unemployment Hits 16.1%
The June jobs report shows that 195,000 new jobs were created, keeping the national unemployment rate at 7.6%. Wall Street and national economists expected that new jobs would hit 165,000, so the extra 30,000 more jobs than expected is a welcome surprise.
But is this just another short-term gain for the U.S. economy? According to the national non-partisan you advocacy organizations, Generation Opportunity, the unemployment rate for 18-29 year olds is at a staggering 16.1%.
The group announced these numbers in their Millennial Jobs Report for June 2013, which also reported that in the same age group, the unemployment rate for African-Americans is 23.7%, 13.2% for Hispanics, and 11.6% for women