Teen Jobs Situation Disappoints In July 2024

The employment situation for U.S. teens turned down in July 2024.The month, which represents the annual high for teen jobs with the peak of the summer job season, instead saw a notable month over month decline in the seasonally-adjusted number of 16-to-19 year olds counted as being employed. According to the BLS’ data, most of that decline occurred among older teens.This decline follows the peak in the total number of employed working age teens in May 2024. Since that peak, the number has fallen by 259,000 to 5,612,000 through July 2024. The teen employment to population ratio likewise fell over this time, dropping from 33.4% to 31.9%.The following combined set of charts shows these changes and breaks down the changes for the population of older teens (Age 18-19) and younger teens (Age 16-17).combined set of chartsThe overall July 2024 jobs report was read as negative, so it’s not surprising the employment situation for teens was likewise negative. For U.S. teens however, the data doesn’t suggest any disproportionate impact for this demographic, which would be unusual if the economy is indeed sliding into recession as feared.ReferencesU.S. Bureau of Labor Statistics. Labor Force Statistics (Current Population Survey – CPS). [Online Database]. Accessed: 2 August 2024.More By This Author:The Affordability Of New Homes In The U.S. Warning Signs For A Breakdown Of Order For The S&P 500 S&P 500 Investors Spooked by Prospect of Arriving Recession