The recent recession lasted from December 2007 to June 2009, with the unemployment rate increasing from 5.0 percent at the beginning of the recession to 9.6 percent at the end. The recession had different consequences for various demographic groups, with higher job losses affecting African Americans, Hispanics or Latinos, workers with lower levels of education, and younger workers.
This article focuses on the impacts of the recent recession on younger workers. It compares the labor market experiences of young adults (24- and 25-year-olds) over an 18-month period prior to the last recession to those of young adults of the same age over the 18 months of the recent recession. Many of these young adults had recently entered the labor market, and research has shown that workers who enter the labor market during a recession can see long-term negative effects on their employment and earnings.
Modified On : May 14, 2012
Type : Web Link
Downloads : 119
Viewed : 457
In Relation : Career Guidance and Financial Literacy
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