For Americans between the ages of 18 and 29, the unemployment rate hit 12.8 percent in June, according to Generation Opportunity, a grassroots organization connected with young Americans.
Generation Opportunity also finds that the declining labor participation rate has created an additional 1.735 million young adults that are not considered unemployed by the Bureau of Labor Statistics because they are not in the labor force as they are no longer looking for work with the lack of jobs. When calculating the labor force participation rate into the overall 18 to 29 youth unemployment rate, the actual unemployment rate increases to 16.8 percent.
In response to the June 2012 jobs numbers, Generation Opportunity President Paul T. Conway, former chief of staff for the Department of Labor and Office of Personnel Management, responded to the June 2012 jobs numbers, saying, “For young Americans, through no fault of their own, their story is one of few opportunities, delayed dreams and stalled careers. 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. Despite the challenges they face, this generation is not asking what their country can do for them.
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