The month of Might is a time of transition for working teenagers within the U.S. The varsity 12 months is ending, or is about to. 1000’s of employers throughout the nation are ramping up their hiring exercise to help their busy summer season season.
In case you do not depend the coronavirus pandemic 12 months of 2020, it occurs yearly. The variety of teenagers getting into the ranks of the employed begins swelling in Might, rises in June, peaks in July, begins falling in August, and when the brand new faculty 12 months begins round or shortly after, drops again to the degrees they had been earlier than the old-fashioned 12 months set free.
By the magic of seasonal changes, the info jocks on the Bureau of Labor Statistics are in a position to filter out that very acquainted and predictable sample. What they depart behind after their handiwork, for all intents and functions, offers a good suggestion of the tendencies happening beneath the seasonal noise.
That is the info we’re taking a look at for U.S. teenagers, the place the next charts displaying the variety of employed teenagers and the employed teen-to-teen inhabitants ratios have been charted from January 2016 by means of Might 2023. The charts present this information for the Age 16-17 group, the Age 18-19 group, and the mixed Age 16-19 group. Listed below are the charts:
The information for every age demographic has been put by means of its personal seasonal adjustment, which is why the sums of the figures for the Age 16-17 and Age 18-19 teams proven within the chart could not sum to the mixed Age 16-19 group. If you need information that provides up, you may need the non-seasonally adjusted information that features the summer season seasonal employment surge for U.S. teenagers….
Wanting on the teen employment numbers (within the prime chart), we see that total employment of Age 16-19 12 months olds has usually been rising pretty steadily since October 2020, however is down in Might 2023 after having peaked in April 2023. The information for older teenagers (Age 18-19) is comparable. However the information for youthful teenagers signifies that rising tide ended with December 2020, with both a falling (in January-February 2023) or a usually flat pattern since.
The teenager employment-to-population ratio is a bit more attention-grabbing. That is as a result of it is displaying both a flat or falling pattern for 2 of the three demographic teams. For youthful teenagers (Age 16-17), the share of these with jobs peaked between April 2022 and December 2023, having fallen within the months since.
In the meantime, the info for the mixed group of teenagers (Age 16-19) exhibits the same sample, however one which lags behind that for youthful teenagers. That information exhibits a peak between August 2022 and April 2022.
However older teenagers (Age 18-19) would seem to nonetheless be on a rising pattern, despite the fact that their employed-to-population ratio dipped by the biggest quantity from April to Might 2023. Given the month-to-month volatility of the info, it is too early to establish something that appears like a change in pattern for this group.
With that in thoughts, we’ll see how that creating scenario would possibly change by means of the summer season.
U.S. Bureau of Labor Statistics. Labor Pressure Statistics (Present Inhabitants Survey – CPS). [Online Database.] Accessed: 2 June 2023.
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Editor’s Word: The abstract bullets for this text had been chosen by Looking for Alpha editors.