Class of 2023: Young adults are graduating into a strong labor market
As young adults graduate from high school and college this spring, it’s a good time to reexamine how the labor market is performing for young workers. In this first blog post of a three-part series, we analyze the short- and long-run trends in job opportunities and school enrollment for young workers, defined as workers ages 16 to 24 years old. The second post will investigate the types of jobs young people work in and how that has changed over the current business cycle. The third post will focus on wage levels and trends through the pandemic labor market.
We find:
- Historically, the unemployment rate for young people ages 16–24 is about 2.6 times higher than people ages 25 and older.
- Young people are back to pre-pandemic labor market conditions, a much faster bounceback than any recovery in recent history. In fact, the unemployment rate for young adults is at its lowest since 1953.
- Over the last four decades, young people’s enrollment in high school, college, or university has increased while their employment has declined somewhat.
- The Class of 2023 is graduating into a stronger labor market than last year as measured by lower unemployment and underemployment rates as well as a smaller share not employed or not enrolled in school.
- Across race and ethnic groups, young Asian American and Pacific Islanders have the highest school enrollment and lowest employment rates, while young white people are most likely to be employed.
As shown in Figure A below, young workers face a significantly higher unemployment rate and are subject to more swings in the business cycle than workers ages 25 and older. The unemployment rate for young workers is about 2.6 times that of their older counterparts, which means that for every 1 percentage point increase in the older unemployment rate, the younger unemployment rate increases by about 2.6 percentage points. Similarly, compared with their older peers, young workers have far higher underemployment rates—which is the unemployment rate plus those who want full-time work and only work part-time plus those who have looked for work in the past year.
In the pandemic recession, young workers were among those hurt the most because their jobs were more vulnerable to pandemic closures. Even so, Figure A shows that their unemployment rate is now below their pre-pandemic level. As of March 2023, the unemployment rate for young workers is 7.5%—the lowest in 70 years.
Given that it’s a volatile series due to a smaller population size, we also checked the robustness of that result by looking at unemployment rates averaged over the year, which still showed unemployment below pre-pandemic levels. In fact, the 12-month average unemployment rate ending in March 2023 was 8.0% compared with 8.2% in the 12 months leading up to the pandemic. This quick return to pre-pandemic labor market conditions is far faster than any other recession in the last four decades due to the swift and large-scale policy response in the form of expanded and enhanced unemployment insurance and economic impact payments, among other relief measures.
Young workers consistently have worse labor market outcomes: Unemployment rate for young workers, 16–24 years old, and workers 25+, 1979–2023
| Ages 16–24 | Ages 25+ | |
|---|---|---|
| 1979-01-01 | 11.6% | 4.0% |
| 1979-02-01 | 11.7 | 4.0 |
| 1979-03-01 | 11.6 | 4.0 |
| 1979-04-01 | 11.6 | 4.0 |
| 1979-05-01 | 11.6 | 3.7 |
| 1979-06-01 | 11.5 | 3.8 |
| 1979-07-01 | 11.6 | 3.8 |
| 1979-08-01 | 12.2 | 4.1 |
| 1979-09-01 | 12.1 | 3.9 |
| 1979-10-01 | 12.1 | 4.0 |
| 1979-11-01 | 11.6 | 4.1 |
| 1979-12-01 | 12.4 | 3.9 |
| 1980-01-01 | 12.6 | 4.3 |
| 1980-02-01 | 12.5 | 4.3 |
| 1980-03-01 | 12.3 | 4.5 |
| 1980-04-01 | 13.1 | 5.0 |
| 1980-05-01 | 14.7 | 5.2 |
| 1980-06-01 | 14.7 | 5.4 |
| 1980-07-01 | 14.9 | 5.6 |
| 1980-08-01 | 14.7 | 5.6 |
| 1980-09-01 | 14.3 | 5.4 |
| 1980-10-01 | 14.5 | 5.4 |
| 1980-11-01 | 14.4 | 5.3 |
| 1980-12-01 | 13.7 | 5.2 |
| 1981-01-01 | 14.5 | 5.3 |
| 1981-02-01 | 14.6 | 5.3 |
| 1981-03-01 | 14.5 | 5.2 |
| 1981-04-01 | 14.5 | 5.0 |
| 1981-05-01 | 15.1 | 5.2 |
| 1981-06-01 | 14.9 | 5.3 |
| 1981-07-01 | 14.1 | 5.2 |
| 1981-08-01 | 14.5 | 5.2 |
| 1981-09-01 | 14.9 | 5.4 |
| 1981-10-01 | 15.3 | 5.7 |
| 1981-11-01 | 15.9 | 6.0 |
| 1981-12-01 | 16.1 | 6.3 |
| 1982-01-01 | 16.5 | 6.3 |
| 1982-02-01 | 17.0 | 6.5 |
| 1982-03-01 | 16.9 | 6.8 |
| 1982-04-01 | 17.4 | 7.0 |
| 1982-05-01 | 17.3 | 7.1 |
| 1982-06-01 | 17.5 | 7.3 |
| 1982-07-01 | 18.0 | 7.5 |
| 1982-08-01 | 18.1 | 7.4 |
| 1982-09-01 | 18.2 | 7.9 |
| 1982-10-01 | 18.5 | 8.1 |
| 1982-11-01 | 19.0 | 8.4 |
| 1982-12-01 | 18.9 | 8.6 |
| 1983-01-01 | 18.5 | 8.1 |
| 1983-02-01 | 18.4 | 8.2 |
| 1983-03-01 | 18.2 | 8.1 |
| 1983-04-01 | 18.0 | 8.0 |
| 1983-05-01 | 17.7 | 8.0 |
| 1983-06-01 | 17.8 | 7.9 |
| 1983-07-01 | 16.8 | 7.3 |
| 1983-08-01 | 17.3 | 7.3 |
| 1983-09-01 | 16.4 | 7.2 |
| 1983-10-01 | 16.2 | 6.8 |
| 1983-11-01 | 15.4 | 6.6 |
| 1983-12-01 | 14.9 | 6.6 |
| 1984-01-01 | 14.8 | 6.2 |
| 1984-02-01 | 14.3 | 6.1 |
| 1984-03-01 | 14.4 | 5.9 |
| 1984-04-01 | 14.5 | 6.0 |
| 1984-05-01 | 13.6 | 5.7 |
| 1984-06-01 | 13.2 | 5.6 |
| 1984-07-01 | 13.7 | 5.8 |
| 1984-08-01 | 14.1 | 5.7 |
| 1984-09-01 | 14.0 | 5.6 |
| 1984-10-01 | 13.6 | 5.7 |
| 1984-11-01 | 13.2 | 5.6 |
| 1984-12-01 | 13.7 | 5.6 |
| 1985-01-01 | 13.6 | 5.7 |
| 1985-02-01 | 13.6 | 5.6 |
| 1985-03-01 | 13.6 | 5.6 |
| 1985-04-01 | 13.2 | 5.8 |
| 1985-05-01 | 13.6 | 5.5 |
| 1985-06-01 | 13.5 | 5.8 |
| 1985-07-01 | 14.2 | 5.6 |
| 1985-08-01 | 13.3 | 5.6 |
| 1985-09-01 | 13.3 | 5.6 |
| 1985-10-01 | 14.1 | 5.4 |
| 1985-11-01 | 13.5 | 5.3 |
| 1985-12-01 | 13.5 | 5.4 |
| 1986-01-01 | 13.0 | 5.1 |
| 1986-02-01 | 13.6 | 5.6 |
| 1986-03-01 | 13.2 | 5.6 |
| 1986-04-01 | 13.7 | 5.5 |
| 1986-05-01 | 13.7 | 5.5 |
| 1986-06-01 | 13.5 | 5.6 |
| 1986-07-01 | 13.3 | 5.5 |
| 1986-08-01 | 13.1 | 5.4 |
| 1986-09-01 | 13.6 | 5.4 |
| 1986-10-01 | 13.0 | 5.5 |
| 1986-11-01 | 12.8 | 5.4 |
| 1986-12-01 | 13.0 | 5.1 |
| 1987-01-01 | 13.0 | 5.1 |
| 1987-02-01 | 13.1 | 5.0 |
| 1987-03-01 | 12.8 | 5.1 |
| 1987-04-01 | 12.6 | 4.9 |
| 1987-05-01 | 12.5 | 4.8 |
| 1987-06-01 | 12.3 | 4.7 |
| 1987-07-01 | 11.8 | 4.7 |
| 1987-08-01 | 11.7 | 4.7 |
| 1987-09-01 | 11.8 | 4.6 |
| 1987-10-01 | 11.8 | 4.6 |
| 1987-11-01 | 11.5 | 4.5 |
| 1987-12-01 | 11.2 | 4.5 |
| 1988-01-01 | 11.5 | 4.4 |
| 1988-02-01 | 11.3 | 4.4 |
| 1988-03-01 | 11.8 | 4.3 |
| 1988-04-01 | 11.2 | 4.2 |
| 1988-05-01 | 11.3 | 4.3 |
| 1988-06-01 | 10.5 | 4.2 |
| 1988-07-01 | 10.8 | 4.2 |
| 1988-08-01 | 11.0 | 4.4 |
| 1988-09-01 | 10.8 | 4.2 |
| 1988-10-01 | 10.8 | 4.1 |
| 1988-11-01 | 10.5 | 4.2 |
| 1988-12-01 | 10.8 | 4.1 |
| 1989-01-01 | 11.8 | 4.1 |
| 1989-02-01 | 10.6 | 4.0 |
| 1989-03-01 | 10.1 | 3.9 |
| 1989-04-01 | 10.6 | 4.1 |
| 1989-05-01 | 10.4 | 4.0 |
| 1989-06-01 | 11.2 | 4.0 |
| 1989-07-01 | 10.6 | 4.0 |
| 1989-08-01 | 10.9 | 4.0 |
| 1989-09-01 | 11.1 | 4.1 |
| 1989-10-01 | 11.0 | 4.1 |
| 1989-11-01 | 11.3 | 4.1 |
| 1989-12-01 | 11.2 | 4.1 |
| 1990-01-01 | 10.8 | 4.1 |
| 1990-02-01 | 10.7 | 4.1 |
| 1990-03-01 | 10.6 | 4.1 |
| 1990-04-01 | 11.1 | 4.2 |
| 1990-05-01 | 10.8 | 4.2 |
| 1990-06-01 | 10.4 | 4.1 |
| 1990-07-01 | 10.7 | 4.4 |
| 1990-08-01 | 11.5 | 4.5 |
| 1990-09-01 | 11.7 | 4.6 |
| 1990-10-01 | 11.8 | 4.7 |
| 1990-11-01 | 12.0 | 4.9 |
| 1990-12-01 | 12.0 | 5.0 |
| 1991-01-01 | 12.6 | 5.0 |
| 1991-02-01 | 12.8 | 5.3 |
| 1991-03-01 | 13.1 | 5.5 |
| 1991-04-01 | 12.7 | 5.4 |
| 1991-05-01 | 13.6 | 5.5 |
| 1991-06-01 | 13.6 | 5.5 |
| 1991-07-01 | 13.8 | 5.4 |
| 1991-08-01 | 13.5 | 5.5 |
| 1991-09-01 | 13.4 | 5.5 |
| 1991-10-01 | 13.9 | 5.6 |
| 1991-11-01 | 13.8 | 5.7 |
| 1991-12-01 | 14.6 | 5.8 |
| 1992-01-01 | 13.9 | 5.9 |
| 1992-02-01 | 14.2 | 6.0 |
| 1992-03-01 | 14.1 | 6.1 |
| 1992-04-01 | 13.6 | 6.1 |
| 1992-05-01 | 14.4 | 6.3 |
| 1992-06-01 | 15.2 | 6.3 |
| 1992-07-01 | 14.5 | 6.3 |
| 1992-08-01 | 14.2 | 6.3 |
| 1992-09-01 | 14.5 | 6.2 |
| 1992-10-01 | 13.5 | 6.1 |
| 1992-11-01 | 14.3 | 6.1 |
| 1992-12-01 | 14.2 | 6.1 |
| 1993-01-01 | 14.0 | 5.8 |
| 1993-02-01 | 14.1 | 5.7 |
| 1993-03-01 | 13.6 | 5.7 |
| 1993-04-01 | 13.8 | 5.7 |
| 1993-05-01 | 14.2 | 5.6 |
| 1993-06-01 | 13.7 | 5.7 |
| 1993-07-01 | 13.1 | 5.7 |
| 1993-08-01 | 13.0 | 5.5 |
| 1993-09-01 | 12.6 | 5.6 |
| 1993-10-01 | 13.0 | 5.6 |
| 1993-11-01 | 12.9 | 5.4 |
| 1993-12-01 | 12.5 | 5.4 |
| 1994-01-01 | 13.4 | 5.2 |
| 1994-02-01 | 12.9 | 5.3 |
| 1994-03-01 | 13.1 | 5.2 |
| 1994-04-01 | 13.3 | 5.0 |
| 1994-05-01 | 12.5 | 4.8 |
| 1994-06-01 | 12.4 | 4.8 |
| 1994-07-01 | 12.4 | 4.8 |
| 1994-08-01 | 12.5 | 4.8 |
| 1994-09-01 | 12.1 | 4.7 |
| 1994-10-01 | 12.0 | 4.6 |
| 1994-11-01 | 11.4 | 4.5 |
| 1994-12-01 | 11.5 | 4.3 |
| 1995-01-01 | 11.4 | 4.4 |
| 1995-02-01 | 11.7 | 4.2 |
| 1995-03-01 | 11.6 | 4.2 |
| 1995-04-01 | 12.0 | 4.5 |
| 1995-05-01 | 11.9 | 4.5 |
| 1995-06-01 | 12.0 | 4.4 |
| 1995-07-01 | 12.5 | 4.4 |
| 1995-08-01 | 12.5 | 4.4 |
| 1995-09-01 | 12.7 | 4.3 |
| 1995-10-01 | 12.4 | 4.2 |
| 1995-11-01 | 12.0 | 4.4 |
| 1995-12-01 | 12.4 | 4.3 |
| 1996-01-01 | 12.8 | 4.3 |
| 1996-02-01 | 12.2 | 4.2 |
| 1996-03-01 | 12.2 | 4.2 |
| 1996-04-01 | 12.0 | 4.3 |
| 1996-05-01 | 12.2 | 4.3 |
| 1996-06-01 | 11.8 | 4.1 |
| 1996-07-01 | 12.4 | 4.2 |
| 1996-08-01 | 11.6 | 4.0 |
| 1996-09-01 | 11.4 | 4.0 |
| 1996-10-01 | 11.6 | 4.0 |
| 1996-11-01 | 11.9 | 4.1 |
| 1996-12-01 | 11.8 | 4.1 |
| 1997-01-01 | 12.2 | 4.0 |
| 1997-02-01 | 11.8 | 4.0 |
| 1997-03-01 | 11.7 | 3.9 |
| 1997-04-01 | 11.6 | 3.8 |
| 1997-05-01 | 11.1 | 3.8 |
| 1997-06-01 | 11.4 | 3.8 |
| 1997-07-01 | 11.2 | 3.7 |
| 1997-08-01 | 11.1 | 3.7 |
| 1997-09-01 | 11.2 | 3.7 |
| 1997-10-01 | 11.0 | 3.5 |
| 1997-11-01 | 10.8 | 3.4 |
| 1997-12-01 | 10.5 | 3.6 |
| 1998-01-01 | 10.9 | 3.5 |
| 1998-02-01 | 10.6 | 3.5 |
| 1998-03-01 | 10.5 | 3.6 |
| 1998-04-01 | 9.7 | 3.4 |
| 1998-05-01 | 10.3 | 3.3 |
| 1998-06-01 | 10.6 | 3.4 |
| 1998-07-01 | 10.6 | 3.4 |
| 1998-08-01 | 10.8 | 3.3 |
| 1998-09-01 | 11.0 | 3.4 |
| 1998-10-01 | 10.5 | 3.4 |
| 1998-11-01 | 9.8 | 3.3 |
| 1998-12-01 | 9.6 | 3.3 |
| 1999-01-01 | 10.2 | 3.2 |
| 1999-02-01 | 10.1 | 3.3 |
| 1999-03-01 | 9.9 | 3.1 |
| 1999-04-01 | 10.0 | 3.3 |
| 1999-05-01 | 9.6 | 3.1 |
| 1999-06-01 | 10.0 | 3.2 |
| 1999-07-01 | 9.9 | 3.2 |
| 1999-08-01 | 9.6 | 3.2 |
| 1999-09-01 | 10.2 | 3.1 |
| 1999-10-01 | 10.0 | 3.0 |
| 1999-11-01 | 9.9 | 3.0 |
| 1999-12-01 | 9.6 | 2.9 |
| 2000-01-01 | 9.4 | 3.0 |
| 2000-02-01 | 9.9 | 3.0 |
| 2000-03-01 | 9.6 | 3.0 |
| 2000-04-01 | 9.2 | 2.9 |
| 2000-05-01 | 9.8 | 3.0 |
| 2000-06-01 | 9.3 | 3.0 |
| 2000-07-01 | 9.3 | 3.0 |
| 2000-08-01 | 9.3 | 3.1 |
| 2000-09-01 | 8.9 | 3.0 |
| 2000-10-01 | 8.9 | 2.9 |
| 2000-11-01 | 9.1 | 3.0 |
| 2000-12-01 | 9.2 | 2.9 |
| 2001-01-01 | 9.6 | 3.2 |
| 2001-02-01 | 9.6 | 3.2 |
| 2001-03-01 | 9.8 | 3.2 |
| 2001-04-01 | 10.2 | 3.3 |
| 2001-05-01 | 9.9 | 3.3 |
| 2001-06-01 | 10.4 | 3.5 |
| 2001-07-01 | 10.2 | 3.5 |
| 2001-08-01 | 11.2 | 3.8 |
| 2001-09-01 | 10.8 | 3.9 |
| 2001-10-01 | 11.5 | 4.2 |
| 2001-11-01 | 11.6 | 4.4 |
| 2001-12-01 | 12.2 | 4.5 |
| 2002-01-01 | 12.1 | 4.5 |
| 2002-02-01 | 11.8 | 4.5 |
| 2002-03-01 | 12.5 | 4.5 |
| 2002-04-01 | 12.3 | 4.8 |
| 2002-05-01 | 11.6 | 4.8 |
| 2002-06-01 | 11.8 | 4.7 |
| 2002-07-01 | 12.1 | 4.6 |
| 2002-08-01 | 12.0 | 4.6 |
| 2002-09-01 | 11.7 | 4.5 |
| 2002-10-01 | 11.8 | 4.6 |
| 2002-11-01 | 12.1 | 4.7 |
| 2002-12-01 | 12.1 | 4.8 |
| 2003-01-01 | 12.0 | 4.7 |
| 2003-02-01 | 12.1 | 4.8 |
| 2003-03-01 | 12.0 | 4.8 |
| 2003-04-01 | 12.6 | 4.9 |
| 2003-05-01 | 12.9 | 4.9 |
| 2003-06-01 | 13.2 | 5.1 |
| 2003-07-01 | 13.0 | 4.9 |
| 2003-08-01 | 12.3 | 5.0 |
| 2003-09-01 | 12.8 | 4.9 |
| 2003-10-01 | 12.2 | 4.9 |
| 2003-11-01 | 12.1 | 4.8 |
| 2003-12-01 | 11.7 | 4.6 |
| 2004-01-01 | 12.0 | 4.6 |
| 2004-02-01 | 11.7 | 4.5 |
| 2004-03-01 | 12.0 | 4.7 |
| 2004-04-01 | 11.6 | 4.5 |
| 2004-05-01 | 12.1 | 4.4 |
| 2004-06-01 | 12.0 | 4.5 |
| 2004-07-01 | 12.1 | 4.4 |
| 2004-08-01 | 11.5 | 4.3 |
| 2004-09-01 | 11.7 | 4.3 |
| 2004-10-01 | 12.1 | 4.2 |
| 2004-11-01 | 11.5 | 4.3 |
| 2004-12-01 | 11.7 | 4.2 |
| 2005-01-01 | 11.6 | 4.1 |
| 2005-02-01 | 12.4 | 4.2 |
| 2005-03-01 | 11.8 | 4.0 |
| 2005-04-01 | 11.8 | 4.0 |
| 2005-05-01 | 11.7 | 3.9 |
| 2005-06-01 | 11.1 | 4.0 |
| 2005-07-01 | 10.7 | 4.0 |
| 2005-08-01 | 11.1 | 3.8 |
| 2005-09-01 | 10.8 | 4.1 |
| 2005-10-01 | 10.8 | 3.9 |
| 2005-11-01 | 11.1 | 4.0 |
| 2005-12-01 | 10.5 | 3.9 |
| 2006-01-01 | 10.4 | 3.7 |
| 2006-02-01 | 10.8 | 3.7 |
| 2006-03-01 | 10.5 | 3.6 |
| 2006-04-01 | 10.3 | 3.7 |
| 2006-05-01 | 10.0 | 3.7 |
| 2006-06-01 | 10.4 | 3.6 |
| 2006-07-01 | 10.9 | 3.7 |
| 2006-08-01 | 10.7 | 3.6 |
| 2006-09-01 | 10.6 | 3.5 |
| 2006-10-01 | 10.6 | 3.3 |
| 2006-11-01 | 10.6 | 3.5 |
| 2006-12-01 | 10.0 | 3.5 |
| 2007-01-01 | 10.3 | 3.7 |
| 2007-02-01 | 9.9 | 3.6 |
| 2007-03-01 | 10.0 | 3.4 |
| 2007-04-01 | 10.3 | 3.5 |
| 2007-05-01 | 9.9 | 3.5 |
| 2007-06-01 | 10.6 | 3.5 |
| 2007-07-01 | 10.5 | 3.7 |
| 2007-08-01 | 10.7 | 3.6 |
| 2007-09-01 | 11.2 | 3.6 |
| 2007-10-01 | 10.7 | 3.7 |
| 2007-11-01 | 10.8 | 3.7 |
| 2007-12-01 | 11.7 | 3.8 |
| 2008-01-01 | 11.7 | 3.8 |
| 2008-02-01 | 11.4 | 3.8 |
| 2008-03-01 | 11.4 | 4.0 |
| 2008-04-01 | 11.0 | 4.0 |
| 2008-05-01 | 13.0 | 4.1 |
| 2008-06-01 | 12.9 | 4.3 |
| 2008-07-01 | 13.5 | 4.5 |
| 2008-08-01 | 13.1 | 4.9 |
| 2008-09-01 | 13.5 | 4.9 |
| 2008-10-01 | 13.6 | 5.3 |
| 2008-11-01 | 14.0 | 5.6 |
| 2008-12-01 | 14.8 | 6.1 |
| 2009-01-01 | 15.0 | 6.6 |
| 2009-02-01 | 16.0 | 7.1 |
| 2009-03-01 | 16.5 | 7.4 |
| 2009-04-01 | 16.7 | 7.7 |
| 2009-05-01 | 17.6 | 8.0 |
| 2009-06-01 | 18.0 | 8.1 |
| 2009-07-01 | 17.9 | 8.1 |
| 2009-08-01 | 18.1 | 8.3 |
| 2009-09-01 | 18.4 | 8.4 |
| 2009-10-01 | 19.1 | 8.6 |
| 2009-11-01 | 19.2 | 8.4 |
| 2009-12-01 | 18.8 | 8.4 |
| 2010-01-01 | 18.8 | 8.3 |
| 2010-02-01 | 18.7 | 8.4 |
| 2010-03-01 | 18.8 | 8.5 |
| 2010-04-01 | 19.5 | 8.4 |
| 2010-05-01 | 18.1 | 8.3 |
| 2010-06-01 | 18.2 | 8.1 |
| 2010-07-01 | 18.4 | 8.0 |
| 2010-08-01 | 17.7 | 8.2 |
| 2010-09-01 | 17.9 | 8.2 |
| 2010-10-01 | 18.7 | 8.1 |
| 2010-11-01 | 18.5 | 8.4 |
| 2010-12-01 | 17.9 | 8.0 |
| 2011-01-01 | 18.1 | 7.7 |
| 2011-02-01 | 17.7 | 7.6 |
| 2011-03-01 | 17.6 | 7.6 |
| 2011-04-01 | 17.6 | 7.7 |
| 2011-05-01 | 17.3 | 7.7 |
| 2011-06-01 | 17.1 | 7.9 |
| 2011-07-01 | 17.3 | 7.7 |
| 2011-08-01 | 17.4 | 7.7 |
| 2011-09-01 | 17.3 | 7.7 |
| 2011-10-01 | 16.7 | 7.6 |
| 2011-11-01 | 17.0 | 7.3 |
| 2011-12-01 | 16.7 | 7.2 |
| 2012-01-01 | 16.1 | 7.0 |
| 2012-02-01 | 16.5 | 7.0 |
| 2012-03-01 | 16.2 | 6.9 |
| 2012-04-01 | 16.6 | 6.8 |
| 2012-05-01 | 16.1 | 6.9 |
| 2012-06-01 | 16.2 | 7.0 |
| 2012-07-01 | 16.3 | 6.9 |
| 2012-08-01 | 16.7 | 6.7 |
| 2012-09-01 | 15.5 | 6.6 |
| 2012-10-01 | 16.0 | 6.5 |
| 2012-11-01 | 15.9 | 6.4 |
| 2012-12-01 | 16.5 | 6.5 |
| 2013-01-01 | 16.8 | 6.5 |
| 2013-02-01 | 16.3 | 6.3 |
| 2013-03-01 | 16.1 | 6.2 |
| 2013-04-01 | 16.3 | 6.2 |
| 2013-05-01 | 16.3 | 6.1 |
| 2013-06-01 | 16.0 | 6.2 |
| 2013-07-01 | 15.4 | 6.0 |
| 2013-08-01 | 15.7 | 5.9 |
| 2013-09-01 | 15.1 | 6.0 |
| 2013-10-01 | 14.8 | 6.0 |
| 2013-11-01 | 14.1 | 5.9 |
| 2013-12-01 | 13.4 | 5.6 |
| 2014-01-01 | 14.1 | 5.3 |
| 2014-02-01 | 14.5 | 5.4 |
| 2014-03-01 | 14.6 | 5.4 |
| 2014-04-01 | 13.0 | 5.2 |
| 2014-05-01 | 13.3 | 5.2 |
| 2014-06-01 | 13.1 | 5.0 |
| 2014-07-01 | 13.5 | 5.0 |
| 2014-08-01 | 13.2 | 5.0 |
| 2014-09-01 | 13.8 | 4.7 |
| 2014-10-01 | 12.6 | 4.7 |
| 2014-11-01 | 12.5 | 4.8 |
| 2014-12-01 | 12.2 | 4.5 |
| 2015-01-01 | 12.0 | 4.6 |
| 2015-02-01 | 11.8 | 4.5 |
| 2015-03-01 | 12.5 | 4.4 |
| 2015-04-01 | 11.8 | 4.5 |
| 2015-05-01 | 12.3 | 4.5 |
| 2015-06-01 | 11.9 | 4.2 |
| 2015-07-01 | 11.5 | 4.2 |
| 2015-08-01 | 11.1 | 4.1 |
| 2015-09-01 | 11.2 | 4.1 |
| 2015-10-01 | 11.0 | 4.1 |
| 2015-11-01 | 11.2 | 4.2 |
| 2015-12-01 | 11.1 | 4.0 |
| 2016-01-01 | 10.0 | 4.0 |
| 2016-02-01 | 10.5 | 4.0 |
| 2016-03-01 | 10.7 | 4.1 |
| 2016-04-01 | 11.0 | 4.1 |
| 2016-05-01 | 10.4 | 3.9 |
| 2016-06-01 | 10.5 | 4.0 |
| 2016-07-01 | 10.6 | 3.9 |
| 2016-08-01 | 10.2 | 4.1 |
| 2016-09-01 | 10.4 | 4.2 |
| 2016-10-01 | 10.6 | 4.0 |
| 2016-11-01 | 10.3 | 3.9 |
| 2016-12-01 | 10.0 | 3.9 |
| 2017-01-01 | 10.0 | 3.9 |
| 2017-02-01 | 9.8 | 3.9 |
| 2017-03-01 | 9.0 | 3.7 |
| 2017-04-01 | 9.3 | 3.6 |
| 2017-05-01 | 8.7 | 3.7 |
| 2017-06-01 | 9.1 | 3.6 |
| 2017-07-01 | 8.9 | 3.6 |
| 2017-08-01 | 8.9 | 3.7 |
| 2017-09-01 | 9.1 | 3.5 |
| 2017-10-01 | 9.2 | 3.4 |
| 2017-11-01 | 9.8 | 3.4 |
| 2017-12-01 | 9.1 | 3.4 |
| 2018-01-01 | 9.2 | 3.3 |
| 2018-02-01 | 9.0 | 3.4 |
| 2018-03-01 | 8.3 | 3.3 |
| 2018-04-01 | 8.4 | 3.3 |
| 2018-05-01 | 8.6 | 3.1 |
| 2018-06-01 | 8.8 | 3.2 |
| 2018-07-01 | 8.6 | 3.1 |
| 2018-08-01 | 8.2 | 3.1 |
| 2018-09-01 | 8.4 | 3.0 |
| 2018-10-01 | 8.5 | 3.1 |
| 2018-11-01 | 8.3 | 3.1 |
| 2018-12-01 | 8.9 | 3.2 |
| 2019-01-01 | 9.2 | 3.2 |
| 2019-02-01 | 9.1 | 3.0 |
| 2019-03-01 | 8.5 | 3.1 |
| 2019-04-01 | 8.1 | 2.9 |
| 2019-05-01 | 8.5 | 2.9 |
| 2019-06-01 | 7.9 | 3.0 |
| 2019-07-01 | 8.4 | 3.0 |
| 2019-08-01 | 8.4 | 2.9 |
| 2019-09-01 | 7.9 | 2.8 |
| 2019-10-01 | 8.0 | 2.9 |
| 2019-11-01 | 8.1 | 2.9 |
| 2019-12-01 | 8.3 | 2.9 |
| 2020-01-01 | 8.5 | 2.9 |
| 2020-02-01 | 7.9 | 2.9 |
| 2020-03-01 | 10.0 | 3.6 |
| 2020-04-01 | 27.4 | 13.0 |
| 2020-05-01 | 25.1 | 11.5 |
| 2020-06-01 | 20.4 | 9.7 |
| 2020-07-01 | 18.4 | 9.0 |
| 2020-08-01 | 14.7 | 7.5 |
| 2020-09-01 | 13.6 | 7.0 |
| 2020-10-01 | 11.8 | 6.2 |
| 2020-11-01 | 11.6 | 6.0 |
| 2020-12-01 | 12.6 | 5.9 |
| 2021-01-01 | 11.3 | 5.6 |
| 2021-02-01 | 11.0 | 5.6 |
| 2021-03-01 | 10.9 | 5.3 |
| 2021-04-01 | 10.8 | 5.3 |
| 2021-05-01 | 10.1 | 5.1 |
| 2021-06-01 | 9.7 | 5.4 |
| 2021-07-01 | 9.5 | 4.8 |
| 2021-08-01 | 9.8 | 4.5 |
| 2021-09-01 | 8.8 | 4.1 |
| 2021-10-01 | 8.5 | 3.9 |
| 2021-11-01 | 8.4 | 3.6 |
| 2021-12-01 | 8.2 | 3.3 |
| 2022-01-01 | 8.3 | 3.4 |
| 2022-02-01 | 8.3 | 3.2 |
| 2022-03-01 | 8.2 | 2.9 |
| 2022-04-01 | 7.9 | 3.0 |
| 2022-05-01 | 7.9 | 3.0 |
| 2022-06-01 | 8.1 | 3.0 |
| 2022-07-01 | 7.9 | 2.8 |
| 2022-08-01 | 8.0 | 3.0 |
| 2022-09-01 | 8.3 | 2.8 |
| 2022-10-01 | 8.1 | 3.0 |
| 2022-11-01 | 8.2 | 3.0 |
| 2022-12-01 | 8.2 | 2.8 |
| 2023-01-01 | 8.0 | 2.8 |
| 2023-02-01 | 8.1 | 2.9 |
| 2023-03-01 | 7.5 | 2.9 |
Notes: Shaded areas represent recessions.
Source: Authors' analysis of Bureau of Labor Statistics' Current Population Survey public data.
Returning to the long-run picture for young people, there are two main activities young people engage in: work and school. Over the last 40 years, employment among young people has declined by about 7 percentage points while enrollment in school has increased by about 13 percentage points, as shown in Figure B.1 Employment mostly held steady from the mid-1980s to 2000, with about 59% of young adults working in that time period. Employment rates declined in the 2001 recession then fell even more in the Great Recession, bottoming out at 45% in 2010. The young adult employment rate rose in the years leading up to the pandemic, then fell sharply in the pandemic. As with the unemployment rate, the employment-to-population ratio recovered quickly from pandemic losses and is now back to its pre-pandemic level.
Between 1986 and 2012, young people increased their enrollment in high school, college, or university by 19 percentage points from 36% to 55%. Enrollment softened a bit in 2013, then mostly held steady, softening slightly again in the pandemic. As of March 2023, 51.8% of young adults are enrolled in school.
The recent softening of college and university enrollment may be due to a re-evaluation of the benefits of going to college right away as well as the growing cost of college and a college wage premium that has not improved in about 10 years. It could also be driven by the reduced utility of attending college in the pandemic, rising college debt, and better opportunities in the strong labor market for low-wage workers that kept them working full-time instead of going back to school. School and work are not mutually exclusive; as of the latest data, about 17% of young people are both employment and enrolled, and that rate has fluctuated between about 16% and 21% over the last 40 years. For some, the job losses in the pandemic recession may have led to limited resources to pay for higher education.
The third line in Figure B refers to young people who are neither employed nor enrolled. Some refer to this group as idled, though they may be actively looking for a job, enrolled in a certification program, providing caregiving to family, or performing other valuable tasks. The share of young people “idled” has been mostly stable over the last 40 years, rising in recessions and falling in recoveries. Overall, the share of young people neither employed nor enrolled has fallen from 19.2% in 1984 to 14.0% in March 2023.
Over the long run, young people have increased enrollment and decreased employment: Share of young people, 16–24 years old, employed, enrolled, or neither, 1984–2023
| date | Employed | Enrolled | Not employed, not enrolled |
|---|---|---|---|
| Dec-1984 | 58.6% | 38.4% | 19.2% |
| Jan-1985 | 58.7% | 38.4% | 19.1% |
| Feb-1985 | 58.9% | 38.5% | 18.9% |
| Mar-1985 | 59.0% | 38.6% | 18.9% |
| Apr-1985 | 59.1% | 38.6% | 18.8% |
| May-1985 | 59.2% | 38.3% | 18.8% |
| Jun-1985 | 59.0% | 38.2% | 18.8% |
| Jul-1985 | 59.0% | 37.8% | 19.0% |
| Aug-1985 | 59.0% | 37.2% | 19.2% |
| Sep-1985 | 59.1% | 36.9% | 19.2% |
| Oct-1985 | 59.1% | 36.9% | 19.2% |
| Nov-1985 | 59.1% | 36.8% | 19.3% |
| Dec-1985 | 59.1% | 36.6% | 19.3% |
| Jan-1986 | 59.1% | 36.5% | 19.4% |
| Feb-1986 | 59.2% | 36.3% | 19.4% |
| Mar-1986 | 59.2% | 36.1% | 19.4% |
| Apr-1986 | 59.2% | 36.0% | 19.4% |
| May-1986 | 59.2% | 36.1% | 19.4% |
| Jun-1986 | 59.3% | 36.2% | 19.3% |
| Jul-1986 | 59.4% | 36.3% | 19.2% |
| Aug-1986 | 59.5% | 36.4% | 19.0% |
| Sep-1986 | 59.5% | 36.6% | 19.0% |
| Oct-1986 | 59.6% | 36.6% | 18.9% |
| Nov-1986 | 59.6% | 36.7% | 18.8% |
| Dec-1986 | 59.6% | 36.8% | 18.8% |
| Jan-1987 | 59.6% | 36.9% | 18.7% |
| Feb-1987 | 59.7% | 37.1% | 18.6% |
| Mar-1987 | 59.7% | 37.2% | 18.5% |
| Apr-1987 | 59.7% | 37.3% | 18.5% |
| May-1987 | 59.8% | 37.5% | 18.4% |
| Jun-1987 | 59.8% | 37.7% | 18.3% |
| Jul-1987 | 59.8% | 37.8% | 18.2% |
| Aug-1987 | 59.9% | 37.9% | 18.1% |
| Sep-1987 | 60.0% | 37.9% | 18.0% |
| Oct-1987 | 60.0% | 38.0% | 18.0% |
| Nov-1987 | 60.0% | 38.1% | 17.9% |
| Dec-1987 | 60.1% | 38.2% | 17.8% |
| Jan-1988 | 60.2% | 38.2% | 17.8% |
| Feb-1988 | 60.3% | 38.3% | 17.7% |
| Mar-1988 | 60.3% | 38.3% | 17.7% |
| Apr-1988 | 60.4% | 38.3% | 17.7% |
| May-1988 | 60.4% | 38.5% | 17.6% |
| Jun-1988 | 60.5% | 38.3% | 17.6% |
| Jul-1988 | 60.6% | 38.5% | 17.4% |
| Aug-1988 | 60.6% | 38.6% | 17.4% |
| Sep-1988 | 60.8% | 38.7% | 17.3% |
| Oct-1988 | 60.8% | 38.7% | 17.3% |
| Nov-1988 | 60.9% | 38.8% | 17.2% |
| Dec-1988 | 60.9% | 38.9% | 17.2% |
| Jan-1989 | 60.8% | 39.0% | 17.2% |
| Feb-1989 | 60.8% | 39.1% | 17.2% |
| Mar-1989 | 61.0% | 39.2% | 17.1% |
| Apr-1989 | 61.1% | 39.2% | 17.1% |
| May-1989 | 61.2% | 39.2% | 17.0% |
| Jun-1989 | 61.2% | 39.3% | 16.9% |
| Jul-1989 | 61.3% | 39.3% | 16.9% |
| Aug-1989 | 61.3% | 39.5% | 16.7% |
| Sep-1989 | 61.3% | 39.6% | 16.8% |
| Oct-1989 | 61.3% | 39.6% | 16.8% |
| Nov-1989 | 61.3% | 39.5% | 16.8% |
| Dec-1989 | 61.2% | 39.5% | 16.9% |
| Jan-1990 | 61.2% | 39.5% | 16.9% |
| Feb-1990 | 61.1% | 39.5% | 16.9% |
| Mar-1990 | 61.1% | 39.5% | 16.9% |
| Apr-1990 | 61.0% | 39.5% | 16.9% |
| May-1990 | 60.9% | 39.6% | 17.0% |
| Jun-1990 | 60.8% | 39.6% | 17.0% |
| Jul-1990 | 60.6% | 39.6% | 17.1% |
| Aug-1990 | 60.3% | 39.9% | 17.2% |
| Sep-1990 | 60.2% | 39.9% | 17.3% |
| Oct-1990 | 60.1% | 40.0% | 17.3% |
| Nov-1990 | 59.9% | 40.2% | 17.3% |
| Dec-1990 | 59.8% | 40.3% | 17.3% |
| Jan-1991 | 59.6% | 40.4% | 17.3% |
| Feb-1991 | 59.4% | 40.4% | 17.4% |
| Mar-1991 | 59.2% | 40.4% | 17.6% |
| Apr-1991 | 59.0% | 40.5% | 17.6% |
| May-1991 | 58.7% | 40.4% | 17.9% |
| Jun-1991 | 58.4% | 40.5% | 18.1% |
| Jul-1991 | 58.1% | 40.5% | 18.3% |
| Aug-1991 | 57.9% | 40.3% | 18.6% |
| Sep-1991 | 57.7% | 40.4% | 18.8% |
| Oct-1991 | 57.5% | 40.5% | 18.9% |
| Nov-1991 | 57.4% | 40.7% | 18.9% |
| Dec-1991 | 57.2% | 40.8% | 19.0% |
| Jan-1992 | 57.0% | 40.9% | 19.0% |
| Feb-1992 | 56.9% | 41.0% | 19.0% |
| Mar-1992 | 56.8% | 41.1% | 19.0% |
| Apr-1992 | 56.7% | 41.2% | 19.0% |
| May-1992 | 56.7% | 41.3% | 18.9% |
| Jun-1992 | 56.6% | 41.4% | 18.9% |
| Jul-1992 | 56.7% | 41.4% | 18.9% |
| Aug-1992 | 56.7% | 41.3% | 18.9% |
| Sep-1992 | 56.7% | 41.4% | 18.9% |
| Oct-1992 | 56.7% | 41.6% | 18.8% |
| Nov-1992 | 56.7% | 41.6% | 18.8% |
| Dec-1992 | 56.8% | 41.6% | 18.7% |
| Jan-1993 | 56.8% | 41.5% | 18.7% |
| Feb-1993 | 56.8% | 41.6% | 18.7% |
| Mar-1993 | 56.9% | 41.6% | 18.6% |
| Apr-1993 | 56.9% | 41.6% | 18.6% |
| May-1993 | 57.0% | 41.8% | 18.5% |
| Jun-1993 | 57.0% | 42.0% | 18.3% |
| Jul-1993 | 57.1% | 42.0% | 18.2% |
| Aug-1993 | 57.1% | 42.0% | 18.2% |
| Sep-1993 | 57.1% | 42.1% | 18.1% |
| Oct-1993 | 57.2% | 42.1% | 18.1% |
| Nov-1993 | 57.2% | 42.1% | 18.0% |
| Dec-1993 | 57.3% | 42.2% | 17.9% |
| Jan-1994 | 57.3% | 42.3% | 17.9% |
| Feb-1994 | 57.4% | 42.5% | 17.8% |
| Mar-1994 | 57.4% | 42.5% | 17.8% |
| Apr-1994 | 57.5% | 42.6% | 17.8% |
| May-1994 | 57.6% | 42.7% | 17.7% |
| Jun-1994 | 57.7% | 42.6% | 17.7% |
| Jul-1994 | 57.7% | 42.9% | 17.6% |
| Aug-1994 | 57.8% | 43.5% | 17.3% |
| Sep-1994 | 57.9% | 43.7% | 17.2% |
| Oct-1994 | 58.0% | 43.8% | 17.2% |
| Nov-1994 | 58.1% | 43.8% | 17.2% |
| Dec-1994 | 58.2% | 43.9% | 17.2% |
| Jan-1995 | 58.4% | 43.9% | 17.1% |
| Feb-1995 | 58.4% | 43.9% | 17.1% |
| Mar-1995 | 58.6% | 43.8% | 17.0% |
| Apr-1995 | 58.7% | 43.8% | 17.0% |
| May-1995 | 58.7% | 43.9% | 17.0% |
| Jun-1995 | 58.8% | 44.0% | 16.9% |
| Jul-1995 | 58.8% | 44.1% | 16.8% |
| Aug-1995 | 58.7% | 44.2% | 16.8% |
| Sep-1995 | 58.7% | 44.2% | 16.8% |
| Oct-1995 | 58.6% | 44.2% | 16.8% |
| Nov-1995 | 58.5% | 44.1% | 16.9% |
| Dec-1995 | 58.3% | 44.1% | 16.9% |
| Jan-1996 | 58.2% | 44.2% | 17.0% |
| Feb-1996 | 58.0% | 44.3% | 17.0% |
| Mar-1996 | 58.0% | 44.5% | 16.9% |
| Apr-1996 | 57.9% | 44.7% | 16.8% |
| May-1996 | 57.9% | 44.7% | 16.8% |
| Jun-1996 | 57.8% | 44.9% | 16.8% |
| Jul-1996 | 57.7% | 44.9% | 16.9% |
| Aug-1996 | 57.6% | 45.5% | 16.5% |
| Sep-1996 | 57.7% | 45.7% | 16.4% |
| Oct-1996 | 57.7% | 45.8% | 16.3% |
| Nov-1996 | 57.7% | 46.0% | 16.3% |
| Dec-1996 | 57.7% | 46.1% | 16.2% |
| Jan-1997 | 57.8% | 46.3% | 16.1% |
| Feb-1997 | 57.8% | 46.4% | 16.1% |
| Mar-1997 | 57.9% | 46.4% | 16.0% |
| Apr-1997 | 57.9% | 46.4% | 16.0% |
| May-1997 | 57.9% | 46.5% | 15.9% |
| Jun-1997 | 57.9% | 46.6% | 15.8% |
| Jul-1997 | 58.0% | 46.6% | 15.7% |
| Aug-1997 | 58.1% | 46.8% | 15.6% |
| Sep-1997 | 58.0% | 46.8% | 15.6% |
| Oct-1997 | 58.0% | 46.9% | 15.5% |
| Nov-1997 | 58.1% | 47.0% | 15.3% |
| Dec-1997 | 58.2% | 47.2% | 15.2% |
| Jan-1998 | 58.4% | 47.2% | 15.1% |
| Feb-1998 | 58.5% | 47.3% | 15.1% |
| Mar-1998 | 58.5% | 47.3% | 15.0% |
| Apr-1998 | 58.6% | 47.4% | 14.9% |
| May-1998 | 58.6% | 47.5% | 14.9% |
| Jun-1998 | 58.7% | 47.7% | 14.7% |
| Jul-1998 | 58.7% | 47.8% | 14.7% |
| Aug-1998 | 58.7% | 47.8% | 14.7% |
| Sep-1998 | 58.8% | 47.7% | 14.7% |
| Oct-1998 | 58.9% | 47.7% | 14.6% |
| Nov-1998 | 58.9% | 47.7% | 14.6% |
| Dec-1998 | 59.0% | 47.7% | 14.6% |
| Jan-1999 | 59.0% | 47.8% | 14.5% |
| Feb-1999 | 59.0% | 47.8% | 14.5% |
| Mar-1999 | 59.0% | 47.8% | 14.5% |
| Apr-1999 | 59.0% | 47.9% | 14.5% |
| May-1999 | 59.0% | 47.9% | 14.4% |
| Jun-1999 | 58.9% | 48.0% | 14.4% |
| Jul-1999 | 59.0% | 48.1% | 14.3% |
| Aug-1999 | 59.0% | 48.0% | 14.3% |
| Sep-1999 | 59.0% | 48.1% | 14.2% |
| Oct-1999 | 59.0% | 48.0% | 14.3% |
| Nov-1999 | 59.0% | 48.0% | 14.3% |
| Dec-1999 | 59.0% | 48.0% | 14.3% |
| Jan-2000 | 59.1% | 47.9% | 14.2% |
| Feb-2000 | 59.1% | 47.9% | 14.2% |
| Mar-2000 | 59.2% | 47.8% | 14.2% |
| Apr-2000 | 59.3% | 47.6% | 14.2% |
| May-2000 | 59.3% | 47.5% | 14.2% |
| Jun-2000 | 59.4% | 47.1% | 14.4% |
| Jul-2000 | 59.3% | 47.1% | 14.4% |
| Aug-2000 | 59.4% | 47.2% | 14.3% |
| Sep-2000 | 59.5% | 47.1% | 14.3% |
| Oct-2000 | 59.6% | 47.1% | 14.3% |
| Nov-2000 | 59.6% | 47.0% | 14.3% |
| Dec-2000 | 59.7% | 47.0% | 14.3% |
| Jan-2001 | 59.7% | 46.9% | 14.3% |
| Feb-2001 | 59.7% | 46.9% | 14.3% |
| Mar-2001 | 59.6% | 46.9% | 14.4% |
| Apr-2001 | 59.5% | 46.9% | 14.4% |
| May-2001 | 59.3% | 47.0% | 14.5% |
| Jun-2001 | 59.1% | 47.1% | 14.6% |
| Jul-2001 | 59.0% | 47.4% | 14.6% |
| Aug-2001 | 58.7% | 47.9% | 14.5% |
| Sep-2001 | 58.5% | 47.9% | 14.6% |
| Oct-2001 | 58.3% | 47.9% | 14.7% |
| Nov-2001 | 58.0% | 47.9% | 14.8% |
| Dec-2001 | 57.7% | 48.0% | 14.9% |
| Jan-2002 | 57.4% | 48.1% | 15.0% |
| Feb-2002 | 57.1% | 48.2% | 15.1% |
| Mar-2002 | 56.8% | 48.3% | 15.2% |
| Apr-2002 | 56.6% | 48.3% | 15.2% |
| May-2002 | 56.5% | 48.3% | 15.3% |
| Jun-2002 | 56.3% | 48.4% | 15.3% |
| Jul-2002 | 56.1% | 48.5% | 15.4% |
| Aug-2002 | 56.1% | 48.6% | 15.4% |
| Sep-2002 | 56.0% | 48.7% | 15.4% |
| Oct-2002 | 55.9% | 48.8% | 15.4% |
| Nov-2002 | 55.8% | 48.8% | 15.5% |
| Dec-2002 | 55.7% | 48.9% | 15.4% |
| Jan-2003 | 55.7% | 49.0% | 15.4% |
| Feb-2003 | 55.6% | 49.1% | 15.4% |
| Mar-2003 | 55.4% | 49.3% | 15.3% |
| Apr-2003 | 55.3% | 49.4% | 15.3% |
| May-2003 | 55.1% | 49.4% | 15.4% |
| Jun-2003 | 54.9% | 49.5% | 15.5% |
| Jul-2003 | 54.7% | 49.4% | 15.6% |
| Aug-2003 | 54.5% | 49.4% | 15.8% |
| Sep-2003 | 54.3% | 49.5% | 15.7% |
| Oct-2003 | 54.2% | 49.6% | 15.7% |
| Nov-2003 | 54.0% | 49.8% | 15.8% |
| Dec-2003 | 53.9% | 49.9% | 15.8% |
| Jan-2004 | 53.8% | 49.9% | 15.8% |
| Feb-2004 | 53.8% | 49.9% | 15.8% |
| Mar-2004 | 53.7% | 50.0% | 15.8% |
| Apr-2004 | 53.7% | 50.1% | 15.7% |
| May-2004 | 53.7% | 50.3% | 15.6% |
| Jun-2004 | 53.7% | 50.4% | 15.6% |
| Jul-2004 | 53.7% | 50.7% | 15.4% |
| Aug-2004 | 53.8% | 50.7% | 15.4% |
| Sep-2004 | 53.8% | 50.7% | 15.3% |
| Oct-2004 | 53.8% | 50.7% | 15.3% |
| Nov-2004 | 53.8% | 50.6% | 15.3% |
| Dec-2004 | 53.9% | 50.6% | 15.2% |
| Jan-2005 | 53.9% | 50.5% | 15.3% |
| Feb-2005 | 53.8% | 50.5% | 15.3% |
| Mar-2005 | 53.8% | 50.4% | 15.4% |
| Apr-2005 | 53.8% | 50.3% | 15.5% |
| May-2005 | 53.8% | 50.4% | 15.5% |
| Jun-2005 | 53.8% | 50.2% | 15.6% |
| Jul-2005 | 53.8% | 50.1% | 15.6% |
| Aug-2005 | 53.9% | 49.9% | 15.7% |
| Sep-2005 | 53.9% | 50.0% | 15.7% |
| Oct-2005 | 53.9% | 50.2% | 15.6% |
| Nov-2005 | 53.9% | 50.3% | 15.5% |
| Dec-2005 | 53.9% | 50.3% | 15.5% |
| Jan-2006 | 53.9% | 50.5% | 15.4% |
| Feb-2006 | 54.0% | 50.6% | 15.3% |
| Mar-2006 | 54.0% | 50.6% | 15.2% |
| Apr-2006 | 54.1% | 50.7% | 15.2% |
| May-2006 | 54.2% | 50.7% | 15.1% |
| Jun-2006 | 54.2% | 50.8% | 15.0% |
| Jul-2006 | 54.2% | 50.8% | 15.0% |
| Aug-2006 | 54.2% | 50.8% | 14.9% |
| Sep-2006 | 54.2% | 50.8% | 14.8% |
| Oct-2006 | 54.2% | 50.7% | 14.8% |
| Nov-2006 | 54.2% | 50.7% | 14.8% |
| Dec-2006 | 54.2% | 50.8% | 14.8% |
| Jan-2007 | 54.3% | 50.8% | 14.7% |
| Feb-2007 | 54.3% | 50.8% | 14.7% |
| Mar-2007 | 54.3% | 50.8% | 14.6% |
| Apr-2007 | 54.2% | 50.9% | 14.6% |
| May-2007 | 54.1% | 50.9% | 14.6% |
| Jun-2007 | 54.0% | 51.1% | 14.6% |
| Jul-2007 | 53.9% | 51.3% | 14.5% |
| Aug-2007 | 53.6% | 51.8% | 14.3% |
| Sep-2007 | 53.6% | 51.9% | 14.4% |
| Oct-2007 | 53.5% | 51.9% | 14.4% |
| Nov-2007 | 53.3% | 51.9% | 14.4% |
| Dec-2007 | 53.1% | 51.9% | 14.5% |
| Jan-2008 | 53.0% | 52.0% | 14.6% |
| Feb-2008 | 52.8% | 52.1% | 14.6% |
| Mar-2008 | 52.6% | 52.2% | 14.7% |
| Apr-2008 | 52.5% | 52.2% | 14.7% |
| May-2008 | 52.5% | 52.1% | 14.8% |
| Jun-2008 | 52.3% | 52.2% | 14.8% |
| Jul-2008 | 52.2% | 52.3% | 14.9% |
| Aug-2008 | 52.1% | 52.2% | 15.0% |
| Sep-2008 | 51.9% | 52.3% | 15.1% |
| Oct-2008 | 51.7% | 52.3% | 15.2% |
| Nov-2008 | 51.5% | 52.4% | 15.3% |
| Dec-2008 | 51.2% | 52.4% | 15.4% |
| Jan-2009 | 50.9% | 52.5% | 15.5% |
| Feb-2009 | 50.7% | 52.4% | 15.7% |
| Mar-2009 | 50.4% | 52.4% | 15.8% |
| Apr-2009 | 50.1% | 52.4% | 16.0% |
| May-2009 | 49.7% | 52.5% | 16.2% |
| Jun-2009 | 49.3% | 52.7% | 16.4% |
| Jul-2009 | 48.9% | 52.8% | 16.6% |
| Aug-2009 | 48.5% | 52.8% | 16.9% |
| Sep-2009 | 48.1% | 52.9% | 17.0% |
| Oct-2009 | 47.6% | 53.0% | 17.2% |
| Nov-2009 | 47.2% | 53.2% | 17.3% |
| Dec-2009 | 46.9% | 53.3% | 17.5% |
| Jan-2010 | 46.5% | 53.4% | 17.5% |
| Feb-2010 | 46.2% | 53.6% | 17.6% |
| Mar-2010 | 45.9% | 53.6% | 17.7% |
| Apr-2010 | 45.7% | 53.7% | 17.8% |
| May-2010 | 45.5% | 53.7% | 17.8% |
| Jun-2010 | 45.3% | 53.8% | 17.8% |
| Jul-2010 | 45.1% | 53.9% | 17.9% |
| Aug-2010 | 45.0% | 54.1% | 17.8% |
| Sep-2010 | 45.0% | 54.2% | 17.8% |
| Oct-2010 | 45.0% | 54.3% | 17.7% |
| Nov-2010 | 45.0% | 54.3% | 17.7% |
| Dec-2010 | 45.0% | 54.3% | 17.6% |
| Jan-2011 | 45.1% | 54.2% | 17.6% |
| Feb-2011 | 45.1% | 54.3% | 17.6% |
| Mar-2011 | 45.1% | 54.4% | 17.5% |
| Apr-2011 | 45.1% | 54.4% | 17.4% |
| May-2011 | 45.1% | 54.6% | 17.2% |
| Jun-2011 | 45.2% | 54.5% | 17.3% |
| Jul-2011 | 45.1% | 54.6% | 17.2% |
| Aug-2011 | 45.1% | 54.5% | 17.3% |
| Sep-2011 | 45.2% | 54.6% | 17.2% |
| Oct-2011 | 45.3% | 54.6% | 17.2% |
| Nov-2011 | 45.4% | 54.6% | 17.1% |
| Dec-2011 | 45.5% | 54.6% | 17.0% |
| Jan-2012 | 45.5% | 54.7% | 16.9% |
| Feb-2012 | 45.6% | 54.7% | 16.9% |
| Mar-2012 | 45.6% | 54.8% | 16.8% |
| Apr-2012 | 45.6% | 54.9% | 16.8% |
| May-2012 | 45.7% | 54.9% | 16.7% |
| Jun-2012 | 45.8% | 54.9% | 16.7% |
| Jul-2012 | 45.9% | 54.8% | 16.7% |
| Aug-2012 | 45.9% | 55.0% | 16.5% |
| Sep-2012 | 45.9% | 55.0% | 16.4% |
| Oct-2012 | 45.9% | 55.0% | 16.4% |
| Nov-2012 | 46.0% | 55.0% | 16.4% |
| Dec-2012 | 46.0% | 55.0% | 16.4% |
| Jan-2013 | 46.0% | 54.8% | 16.5% |
| Feb-2013 | 46.0% | 54.7% | 16.5% |
| Mar-2013 | 46.0% | 54.6% | 16.6% |
| Apr-2013 | 46.1% | 54.4% | 16.6% |
| May-2013 | 46.1% | 54.1% | 16.8% |
| Jun-2013 | 46.1% | 53.7% | 16.9% |
| Jul-2013 | 46.1% | 53.4% | 17.1% |
| Aug-2013 | 46.2% | 53.1% | 17.3% |
| Sep-2013 | 46.3% | 52.8% | 17.3% |
| Oct-2013 | 46.3% | 52.7% | 17.4% |
| Nov-2013 | 46.4% | 52.5% | 17.5% |
| Dec-2013 | 46.5% | 52.3% | 17.5% |
| Jan-2014 | 46.5% | 52.2% | 17.4% |
| Feb-2014 | 46.6% | 52.2% | 17.4% |
| Mar-2014 | 46.7% | 52.0% | 17.3% |
| Apr-2014 | 46.8% | 52.0% | 17.3% |
| May-2014 | 47.0% | 51.9% | 17.2% |
| Jun-2014 | 47.0% | 52.0% | 17.0% |
| Jul-2014 | 47.1% | 52.1% | 16.9% |
| Aug-2014 | 47.2% | 52.1% | 16.8% |
| Sep-2014 | 47.3% | 52.1% | 16.8% |
| Oct-2014 | 47.4% | 52.1% | 16.7% |
| Nov-2014 | 47.6% | 52.1% | 16.6% |
| Dec-2014 | 47.6% | 52.2% | 16.5% |
| Jan-2015 | 47.8% | 52.2% | 16.4% |
| Feb-2015 | 48.0% | 52.2% | 16.4% |
| Mar-2015 | 48.0% | 52.2% | 16.3% |
| Apr-2015 | 48.0% | 52.2% | 16.3% |
| May-2015 | 48.1% | 52.2% | 16.2% |
| Jun-2015 | 48.2% | 52.2% | 16.1% |
| Jul-2015 | 48.3% | 52.4% | 16.0% |
| Aug-2015 | 48.4% | 52.3% | 15.9% |
| Sep-2015 | 48.5% | 52.4% | 15.7% |
| Oct-2015 | 48.5% | 52.5% | 15.6% |
| Nov-2015 | 48.5% | 52.5% | 15.6% |
| Dec-2015 | 48.6% | 52.5% | 15.6% |
| Jan-2016 | 48.7% | 52.5% | 15.5% |
| Feb-2016 | 48.8% | 52.5% | 15.5% |
| Mar-2016 | 48.9% | 52.6% | 15.4% |
| Apr-2016 | 49.0% | 52.6% | 15.4% |
| May-2016 | 49.0% | 52.7% | 15.3% |
| Jun-2016 | 49.1% | 52.6% | 15.3% |
| Jul-2016 | 49.1% | 52.6% | 15.3% |
| Aug-2016 | 49.2% | 52.4% | 15.3% |
| Sep-2016 | 49.3% | 52.4% | 15.3% |
| Oct-2016 | 49.3% | 52.4% | 15.3% |
| Nov-2016 | 49.4% | 52.5% | 15.3% |
| Dec-2016 | 49.4% | 52.6% | 15.2% |
| Jan-2017 | 49.5% | 52.7% | 15.1% |
| Feb-2017 | 49.5% | 52.7% | 15.0% |
| Mar-2017 | 49.6% | 52.8% | 14.9% |
| Apr-2017 | 49.8% | 52.9% | 14.8% |
| May-2017 | 49.8% | 53.0% | 14.6% |
| Jun-2017 | 49.9% | 53.1% | 14.5% |
| Jul-2017 | 50.1% | 53.1% | 14.3% |
| Aug-2017 | 50.1% | 53.3% | 14.1% |
| Sep-2017 | 50.3% | 53.4% | 14.0% |
| Oct-2017 | 50.4% | 53.4% | 14.0% |
| Nov-2017 | 50.4% | 53.3% | 14.0% |
| Dec-2017 | 50.3% | 53.3% | 13.9% |
| Jan-2018 | 50.4% | 53.3% | 13.9% |
| Feb-2018 | 50.5% | 53.3% | 13.8% |
| Mar-2018 | 50.5% | 53.3% | 13.8% |
| Apr-2018 | 50.5% | 53.2% | 13.9% |
| May-2018 | 50.5% | 53.1% | 13.9% |
| Jun-2018 | 50.5% | 53.1% | 13.9% |
| Jul-2018 | 50.6% | 53.1% | 13.9% |
| Aug-2018 | 50.4% | 53.5% | 13.8% |
| Sep-2018 | 50.4% | 53.4% | 13.8% |
| Oct-2018 | 50.4% | 53.4% | 13.8% |
| Nov-2018 | 50.4% | 53.3% | 13.8% |
| Dec-2018 | 50.5% | 53.3% | 13.8% |
| Jan-2019 | 50.4% | 53.2% | 13.8% |
| Feb-2019 | 50.4% | 53.1% | 13.8% |
| Mar-2019 | 50.4% | 53.1% | 13.8% |
| Apr-2019 | 50.4% | 53.1% | 13.8% |
| May-2019 | 50.5% | 53.1% | 13.7% |
| Jun-2019 | 50.6% | 53.2% | 13.6% |
| Jul-2019 | 50.7% | 53.3% | 13.5% |
| Aug-2019 | 50.8% | 53.3% | 13.3% |
| Sep-2019 | 50.9% | 53.4% | 13.3% |
| Oct-2019 | 51.0% | 53.4% | 13.2% |
| Nov-2019 | 51.1% | 53.4% | 13.2% |
| Dec-2019 | 51.2% | 53.4% | 13.2% |
| Jan-2020 | 51.3% | 53.4% | 13.2% |
| Feb-2020 | 51.5% | 53.4% | 13.1% |
| Mar-2020 | 51.3% | 53.4% | 13.2% |
| Apr-2020 | 50.1% | 53.3% | 13.9% |
| May-2020 | 49.1% | 53.1% | 14.7% |
| Jun-2020 | 48.2% | 53.1% | 15.3% |
| Jul-2020 | 47.4% | 53.2% | 15.8% |
| Aug-2020 | 46.9% | 53.1% | 16.2% |
| Sep-2020 | 46.5% | 53.0% | 16.5% |
| Oct-2020 | 46.3% | 52.8% | 16.7% |
| Nov-2020 | 46.1% | 52.7% | 16.9% |
| Dec-2020 | 45.9% | 52.4% | 17.1% |
| Jan-2021 | 45.6% | 52.1% | 17.4% |
| Feb-2021 | 45.4% | 52.0% | 17.6% |
| Mar-2021 | 45.3% | 51.8% | 17.7% |
| Apr-2021 | 46.5% | 51.8% | 17.2% |
| May-2021 | 47.4% | 51.9% | 16.6% |
| Jun-2021 | 48.1% | 52.1% | 16.0% |
| Jul-2021 | 48.8% | 52.1% | 15.5% |
| Aug-2021 | 49.1% | 52.1% | 15.3% |
| Sep-2021 | 49.4% | 52.0% | 15.1% |
| Oct-2021 | 49.6% | 52.0% | 15.0% |
| Nov-2021 | 49.9% | 51.9% | 15.0% |
| Dec-2021 | 50.1% | 52.0% | 14.8% |
| Jan-2022 | 50.3% | 52.0% | 14.7% |
| Feb-2022 | 50.4% | 52.0% | 14.6% |
| Mar-2022 | 50.6% | 52.0% | 14.5% |
| Apr-2022 | 50.7% | 52.0% | 14.5% |
| May-2022 | 50.8% | 52.1% | 14.4% |
| Jun-2022 | 50.9% | 51.8% | 14.4% |
| Jul-2022 | 51.0% | 51.7% | 14.5% |
| Aug-2022 | 51.1% | 51.7% | 14.4% |
| Sep-2022 | 51.1% | 51.8% | 14.3% |
| Oct-2022 | 51.1% | 51.9% | 14.3% |
| Nov-2022 | 51.1% | 52.0% | 14.2% |
| Dec-2022 | 51.1% | 52.0% | 14.2% |
| Jan-2023 | 51.1% | 51.9% | 14.2% |
| Feb-2023 | 51.3% | 51.8% | 14.1% |
| Mar-2023 | 51.4% | 51.8% | 14.0% |
Notes: Numbers don't sum to 100% because young people who are both employed and enrolled are included in both categories. Enrolled refers to enrolled in high school, college, or university. Shaded areas represent recessions. Each month represents a 12-month moving average leading up to that month; for instance, March 2023 represents the average value from April 2022 to March 2023.
Source: Authors' analysis of Current Population Survey basic monthly microdata, EPI Current Population Survey Extracts, Version 1.0.40 (2023), https://microdata.epi.org.
When looking over the past year specifically, young people have had more promising outcomes. Figure C below shows the unemployment rate, underemployment rate, and “idling” rate in 2022 and 2023. Each data year is represented by the 12-month average ending in March so that 2023 represents the average of April 2022 through 2023 for each metric. Figure B showed us that the employment rate continued increasing over the last year. Here, we see that there was significant improvement in opportunities as the unemployment rate fell and the underemployment rate fell even further. The share idled also showed a decline in the last year. Overall, this year’s young people are graduating into a strong labor market.
Young people have more promising opportunities than last year: Young people, 16–24 years old, unemployment rate, underemployment rate, and share not employed and not enrolled, 2022–2023
| 2022 | 2023 | |
|---|---|---|
| Unemployment rate | 9.0% | 8.0% |
| Underemployment rate | 15.1% | 13.8% |
| Not employed, not enrolled | 14.5% | 14.0% |
Notes: Each year represents the 12-month average leading up to March of that year; for example, 2023 represents the average of April 2022 to March 2023 data. Underemployment is the share of the labor force that either 1) is unemployed, 2) is working part time but wants and is available to work full time (an “involuntary” part timer), or 3) wants and is available to work and has looked for work in the last year but has given up actively seeking work in the last four weeks (“marginally attached” worker). Enrolled refers to enrolled in high school, college, or university.
Source: Authors' analysis of Current Population Survey basic monthly microdata, EPI Current Population Survey Extracts, Version 1.0.40 (2023), https://microdata.epi.org.
While there are promising opportunities for young adults overall, there are still significant differences by race and ethnicity. It is a long-established fact that Black workers experience far higher unemployment rates than white workers, and young Black workers are no exception. The unemployment rate for young Black workers is about twice that of young white workers.
Figure D compares employment and enrollment rates for white, Black, Hispanic, and Asian American and Pacific Islander (AAPI) workers using data for the 12 months leading up to March 2023. Those who are both enrolled and employed show up in both categories. What is striking about this figure is that young AAPI adults have the highest enrollment rates and the lowest employment rates. Young white adults have the highest employment rates, followed by young Hispanic and Black adults. Though not as stark as for young AAPI workers, the gap between employment and enrollment is large for young Black adults, with enrollment rates about five percentage points higher than employment rates.
Young AAPI people have highest enrollment rate, while white people have highest employment rate: Share of young people, 16–24 years old, employed and enrolled, by race and ethnicity, 2023
| Employed | Enrolled | |
|---|---|---|
| White | 55.3% | 52.0% |
| Black | 45.9% | 50.1% |
| Hispanic | 49.8% | 48.8% |
| AAPI | 41.1% | 64.3% |
Notes: Data for 2023 are the average of data for April 2022 to March 2023. AAPI refers to Asian American and Pacific Islander. Race and ethnicity categories are mutually exclusive (i.e., white non-Hispanic, Black non-Hispanic, AAPI non-Hispanic, and Hispanic any race). Enrolled refers to enrolled in high school, college, or university.
Source: Authors' analysis of Current Population Survey basic monthly microdata, EPI Current Population Survey Extracts, Version 1.0.40 (2023), https://microdata.epi.org.
In the next blog post in our young adult series, we will delve deeper into the job opportunities for young workers and explore how their employment has changed over the pandemic by various job characteristics, including work hours, industry, and occupation.
Note
1. Current Population Survey data on enrollment are first available in 1984. The data here are 12-month moving averages so that each data point is the average of the 12 months leading up to that point. This mutes some of the more extreme values—particularly in the pandemic—but allows for more reliable reading of levels and trends.
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