According to the U.S. Department of Labor, 3.4 million youth were unemployed and the youth unemployment rate was 14.0 percent for July 2008, the highest rate for July since 1992. As with the decline in employment, the increase in youth unemployment in the summer of 2008 partly reflected a weaker job market. The July 2008 unemployment rates for young men (15.0 percent), women (12.8 percent), whites (12.3 percent), blacks (24.8 percent), and Hispanics (16.0 percent) increased from a year earlier. The jobless rate for Asians (8.4 percent) was unchanged. See the numbers...
Youth in the United States are not alone. The Middle East has the world's highest percentage of young people -- 30 percent of its population -- and the highest percentage of unemployed youths -- 25 percent. In Syria, a country not in the Gulf but representative of the Muslim Middle East overall, 60 percent of unemployed young people said they would rather remain jobless than take a job in the private sector. More>>
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What a Difference 25 Years Makes...
In 1983...
Industrial economy; Unemployment caused by business cycle downturns; double-digit unemployment rate; labor surplus; work tasks repetitive; “good jobs" for “average” skills plentiful.
In 2008...
Global and services economy; unemployment caused by business restructuring; unemployment rate low but duration high; talent shortage; work is more creative; “good” jobs require more advanced skills.
In 1983...
Beijing begins to purgeChina
In 2008...
Beijing hosts the Summer Olympics.
In 1983...
The Dow closes the year at 1258.64
In 2008...
The Dow opens 2008 at 13,563.
In 1983...
Costco Inc. is founded in Seattle.
In 2008...
Costco operates nearly 400 stores. In other words, they have averaged 16 new stores per year for 25 years straight.
In 1983...
General Motors and Toyota Motors sign an agreement February 17 to produce a subcompact car on a joint basis in a GM plant at Fremont, Calif.
In 2008...
Through the first half of 2008 Toyota has outsold GM and is on pace to become the largest automaker in the world, a title GM has held since 1931.
In 1983...
Dell Computer has its beginnings in a dorm room at the University of Texas, Austin, where Houston-born freshman Michael Dell, 18, begins rebuilding personal computers to order and selling them direct to fellow students.
In 2008...
Dell is a Fortune 100 company with a PC market share of 14.3% and $61 billion in revenues.
And now the related question: How has reemployment changed?
Industrial economy; Unemployment caused by business cycle downturns; double-digit unemployment rate; labor surplus; work tasks repetitive; “good jobs" for “average” skills plentiful.
In 2008...
Global and services economy; unemployment caused by business restructuring; unemployment rate low but duration high; talent shortage; work is more creative; “good” jobs require more advanced skills.
In 1983...
Beijing begins to purge
In 2008...
Beijing hosts the Summer Olympics.
In 1983...
The Dow closes the year at 1258.64
In 2008...
The Dow opens 2008 at 13,563.
In 1983...
Costco Inc. is founded in Seattle.
In 2008...
Costco operates nearly 400 stores. In other words, they have averaged 16 new stores per year for 25 years straight.
In 1983...
General Motors and Toyota Motors sign an agreement February 17 to produce a subcompact car on a joint basis in a GM plant at Fremont, Calif.
In 2008...
Through the first half of 2008 Toyota has outsold GM and is on pace to become the largest automaker in the world, a title GM has held since 1931.
In 1983...
Dell Computer has its beginnings in a dorm room at the University of Texas, Austin, where Houston-born freshman Michael Dell, 18, begins rebuilding personal computers to order and selling them direct to fellow students.
In 2008...
Dell is a Fortune 100 company with a PC market share of 14.3% and $61 billion in revenues.
And now the related question: How has reemployment changed?
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