Many Young Adults Uncertain About Future Employment Opportunities
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Getty Images(WASHINGTON) — How many times have young adults heard that they’re enjoying the best years of their lives?
Unfortunately, a lot of people in their 20s and early 30s are having anything but that, in large part due to a still sluggish employment picture.
A new Federal Reserve survey says it’s been going on longer than just the period during and after the Great Recession. These higher rates of unemployment and lower rates of labor force participation for younger generations, compared to older generations, go back at least two decades.
As a result, just 45 percent of young adults are optimistic about their future employment opportunities. That left 55 percent saying that they were either uncertain or even pessimistic about what the future holds for them career-wise.
Contributing to these feelings of unease is the October unemployment rate for Americans 20-to-24 standing at 10.1 percent and the rate for those 25-to-34 at 6.1 percent. The national average last month was 5.8 percent.
The survey of nearly 2,100 people ages 18-to-30 was conducted last December.
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