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Young Adults Up To Age 34 Were The Hardest Hit In Friday’s Unemployment Report

Aug 15, 2024Finance, No picture0

Man in Blue and Brown Plaid Dress Shirt Touching His HairImage Source: PexelsAge group 25-35 was very hard hit in Friday’s job report. Overall unemployment rose 0.2 percentage points. For age group 25-34 unemployment jumped by 0.4 PP.Data from BLS, chart by MishJune to July Rise in Unemployment in Percentage Points (PP)

  • 16-19: +0.3 PP from 12.1% to 12.4%
  • 20-24: +0.2 PP from 7.5% to 7.7%
  • 25-34: +0.4 PP from 4.4% to 4.8%
  • 35-44: -0.1 PP from 3.3% to 3.2%
  • 45-54: +0.2 PP from 2.7% to 2.9%
  • 55+: +0.3 PP from 2.8% to 3.1%
  • All: +0.2PP from 4.1% to 4.3%

    • The unemployment rate generally bottomed in April of 2023. So let’s investigate changes since then.Change in Unemployment by Age GroupChange in the Unemployment Rate Since April 2023

  • 16-19: +3.1 PP from 9.3% to 12.4%
  • 20-24: +2.3 PP from 5.4% to 7.7%
  • 25-34: +1.0 PP from 3.8% to 4.8%
  • 35-44: +0.3 PP from 2.9% to 3.2%
  • 45-54: +0.5 PP from 2.4% to 2.9%
  • 55+: +0.7 PP from 2.4% to 3.1%
  • All: +0.9 PP from 3.4% to 4.3%
  • Black: +1.5 PP from 4.8% to 6.3%
  • White: +0.7 PP from 3.1% to 3.8%
  • Hispanic: +0.9 PP from 4.4% to 5.3%

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