Like international trade, jobs, as measured by the number of employed, also tend to lag behind real changes in the economy. The chart below shows how the number of employed Americans by select age groups has changed since the total number of employed Americans peaked in November 2007, just ahead of the so-called "Great Recession", through August 2013:
If you look at the data at the beginning of the Great Recession, we see that there was very little job loss at the very beginning, and no job loss outside of teens and young adults (Age 16-24) until April 2008, five months after the official start of the 2007 recession.
To take that lag effect for jobs into account, we'll use November 2012 as our start month for measuring changes in the number of employed in the U.S., since that would be five months after our dividend data first indicated the U.S. economy was experiencing recessionary conditions back in July 2012. We obtained the following figures for the net change in number of employed from November 2012 through August 2013 for each of the following age groups we regularly track:
It seems the U.S. economy has been no country for young men, or women, for many months.
Still, with the microrecession just behind us, we would expect to see several more months of lackluster jobs numbers for young Americans before things really pick up as the recovery from the microrecession that ran from July 2012 through July 2013 gets underway.
Perhaps just in time for Christmas!
Board of Governors of the Federal Reserve System. China / U.S. Foreign Exchange Rate. G.5 Foreign Exchange Rates. Accessed 11 September 2013.
U.S. Bureau of Labor Statistics. Employment Situation Report Archive. Accessed 11 September 2013.
U.S. Census Bureau. Trade in Goods with China. Accessed 11 September 2013.
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