Millennials Unemployment Down, But…
The advocacy group Young Invincibles is reporting that the unemployment rate for young adults ages 18 to 34 fell from 7.5 percent in July to 7.0 percent in August (seasonally adjusted), while the national unemployment rate also improved, from 5.3 percent in July to 5.1 percent in August.
While it is encouraging to see this slight improvement for Millennials, racial disparities persist. Young black adults and young Hispanic adults saw little change and still disproportionately struggle to find work. The unemployment rate for each of these groups fell by only one-tenth of a percentage point. The unemployment rate for young black adults (not seasonally adjusted) fell from 13.9 percent in July to 13.8 percent in August, while the unemployment rate for young Hispanic adults (not seasonally adjusted) fell from 8.3 percent in July to 8.2 percent in August.
In comparison, the unemployment rate for young white adults (not seasonally adjusted) fell by nearly an entire percentage point, the greatest margin among all racial groups of young adults. The unemployment rate for young white adults fell from 6.6 percent in July to 5.7 percent in August.
Here are more details on how different populations of young people fared in August 2015:
- The unemployment rate for black/African American young adults ages 18 to 34 is 13.8 percent (not seasonally adjusted) in August, down from 13.9 percent in July.
- The unemployment rate for Hispanic/Latino young adults ages 18 to 34 is 8.2 percent (not seasonally adjusted) in August, down from 8.3 percent in July.
- The unemployment rate for Asian-Pacific Islander young adults ages 18 to 34 is 4.6 percent (not seasonally adjusted) in August, down from 5.2 percent in July.
- The unemployment rate for white young adults ages 18 to 34 is 5.7 percent (not seasonally adjusted) in August, down from 6.6 percent in July.
