688,000 More Teenagers Unemployed Since Obama Was Inaugurated
July 10, 2012 - 10:54 AM
When Obama was inaugurated, 5,216,000 teenagers were employed, according to the Bureau of Labor Statistics, but in June 2012, that number had dropped 688,000 to 4,528,000.
Breaking it down by race, the unemployment rate for black teens was 39.3% last month, compared with 20.9% for white teens.
“For young Americans, through no fault of their own, their story is one of few opportunities, delayed dreams, and stalled careers," said Paul T. Conway, a former chief of staff for the Department of Labor who now heads a conservative group that "seeks to educate and organize young Americans" on the economic challenges facing the nation. "Today’s unemployment numbers tell the story of millions of young Americans who are paying the price for the failed policies coming out of Washington that have inhibited economic opportunity and job creation,”
Conway said companies, in difficult economic times, often cut back on seasonal, summer jobs, or else fill them with members of the current workforce. "So it becomes very tough from the perspective of those who are actually trying to find work, because the economy directly impacts those decisions that businesses are making,” Conway said.
The seasonally adjusted unemployment rate for teenagers ages 16-19 has not dropped below 22.2% since President Obama took office, according to DOL statistics.
“While leaders in Washington travel to communities to make campaign promises and seek to place blame for the results of their failed policies, young Americans are looking for more than rhetoric,” Conway said. "Now I think in this economy what you’re seeing is that the government -- by growing so quickly and interfering through regulation and taxation so much -- has created a huge amount of reluctance and hesitancy in terms of (business) investment in positions and the creation of entry-level jobs.
“But the people that are really taking it on the chin are the youngest workers and those who are millenials who are just getting started in their careers and graduating. It is extremely tough right now and extremely competitive, and we would suggest that what you’re seeing is the true impact of over-involvement by the government, overly interfering in the economy and creating less opportunity."
This is why in our opinion, elections matter, who you elect matters and policy matters in everyday life and in the future of not only individuals, but the country,” Conway added.