Young people have more promising opportunities than last year: Young people, 16–24 years old, unemployment rate, underemployment rate, and share not employed and not enrolled, 2022–2023
| 2022 | 2023 | |
|---|---|---|
| Unemployment rate | 9.0% | 8.0% |
| Underemployment rate | 15.1% | 13.8% |
| Not employed, not enrolled | 14.5% | 14.0% |
Notes: Each year represents the 12-month average leading up to March of that year; for example, 2023 represents the average of April 2022 to March 2023 data. Underemployment is the share of the labor force that either 1) is unemployed, 2) is working part time but wants and is available to work full time (an “involuntary” part timer), or 3) wants and is available to work and has looked for work in the last year but has given up actively seeking work in the last four weeks (“marginally attached” worker). Enrolled refers to enrolled in high school, college, or university.
Source: Authors' analysis of Current Population Survey basic monthly microdata, EPI Current Population Survey Extracts, Version 1.0.40 (2023), https://microdata.epi.org.