In February 2013, the U.S. Bureau of Labor Statistics reported that some 143,492,000 Americans were counted as having jobs, as the official unemployment rate for the U.S. dropped to 7.7%. The last time that many Americans were employed was November 2008.
Breaking the employment numbers down by age group, the number of employed Americans included 4,376,000 teens (Age 16-19), 13,527,000 young adults (Age 20-24) and 125,589,000 adults (Age 25+).
Since the level of total employment peaked at 146,595,000 in November 2007, just one month ahead of the economic peak marking the beginning of the so-called “Great Recession”, there are some 3,103,000 fewer Americans working today. Of those, 50% (1,551,000) are between the ages of 16 and 19, while 15.3% are between the ages of 20 and 24, while the remaining 34.7% are Age 25 or older.
There has been no sustained improvement in the employment situation for U.S. teens since October 2009. That’s four months after the “official” end to the Great Recession and three months after the most recent federal minimum wage increase.
Looking at the establishment portion of the survey, the U.S. economy appears to have added 236,000 non-farm payroll jobs in the month of February 2013 after seasonal adjustments, increasing that total to 135,046,000. (Note: The establishment survey data is subject to large revisions).
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The U.S. Employment Situation, Economy, QE and Stock Prices in Context
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