by Calculated Risk on 8/06/2023 09:07:00 AM
Sunday, August 06, 2023
Summer Teen Employment
Here is a look at the percentage of teens employed over time.
The graph below shows the employment-population ratio for teens (16 to 19 years old) since 1948.
The graph is Not Seasonally Adjusted (NSA), to show the seasonal hiring of teenagers during the summer.
A few observations:
1) Although teen employment has recovered some since the great recession, overall teen employment had been trending down. This is probably because more people are staying in school (a long term positive for the economy).
2) Teen employment was significantly impacted in 2020 by the pandemic.
Click on graph for larger image.
3) A smaller percentage of teenagers are obtaining summer employment. The seasonal spikes are smaller than in previous decades.
The teen employment-population ratio was 38.0% in July 2023, down from 38.4% in July 2022.
The teen participation rate was 43.1% in July 2023, down from 43.6% the previous July.
In general, a smaller percentage of teenagers are joining the labor force during the summer as compared to previous years. This could be because of fewer employment opportunities, or because teenagers are pursuing other activities during the summer.
4) The decline in teenager participation is one of the reasons the overall participation rate has declined (of course, the retiring baby boomers is the main reason the overall participation rate has declined over the last 20+ years).
4) The decline in teenager participation is one of the reasons the overall participation rate has declined (of course, the retiring baby boomers is the main reason the overall participation rate has declined over the last 20+ years).