Unemployment rates for younger Americans will likely remain stagnant throughout spring, according to advocacy group Generation Opportunity, despite jobless benefits claims falling to their lowest level since the start of the 2007-09 recession.
Initial claims for state unemployment benefits dropped 18,000 to a seasonally adjusted 324,000 last week, the Labor Department said.
According to Generation Opportunity’s non-seasonally adjusted data, the unemployment rate for 18- to 29-year-olds in March was at 11.7%.
The group will adjust its numbers based on the Labor Department’s monthly unemployment report for April — due out Friday. But Evan Feinberg, president of Generation Opportunity, which educates young people on national issues, doesn’t expect the numbers to improve anytime soon.
“Youth unemployment continues to be at the highest sustained numbers since World War II,” Feinberg told amNewYork.
He said the woes of the younger job seekers are compounded by the struggle of college graduates to find jobs.
“When you take a look at even educated recent college graduates being unemployed or underemployed at half percent,” he added, “you see that we’re in danger of having a real lost generation, because we have a whole generation of people that have never seen an economy with actual job opportunity.”