It's been a long, frustrating summer for employment-starved teens. And most unemployed adolescents will struggle to find work at least until the holiday season, the latest data suggests.
The employment picture has been bleak across the board, but it's been particularly tough on teens. The U.S. unemployment rate was 9.5 percent last month, but for teens it hit 26.1 percent — and July is typically the peak of the summer employment season for teens. It marked the worst summer hiring season for teens since 1949, according to an analysis by Challenger, Gray & Christmas, an outplacement firm.
Part of the problem: Teens are facing unusually heavy competition from millions of older workers, many of whom have been unemployed for months or longer.
The financial need of teenagers is greater than some people realize. Increasingly, teens are searching for work to save for college or provide support for their unemployed parents.