Going by age demographics, the October 2013 Employment Situation Report revealed the following numbers.
The big story, of course, was the partial federal government shut down that saw 815,932 government workers be furloughed at the beginning of October 2013. Here though, that number was quickly cut nearly in half as the Defense department recalled most of the 400,000 civilian employees it furloughed on 4 October 2013 back to work, as they were employed in essential functions.
Since the household survey is taken during the week that includes the 12th day of the month, the recalled defense workers were counted as having jobs at the time the survey was taken, but as many as 415,932 other federal government employees who were considered to be genuinely nonessential remained furloughed, adding to the measured decline in the number of employed Americans for the month.
Given what we know of the federal government's civilian employees, almost all are Age 25 or older, which explains why such a large reduction was seen in that age group's employment figures, while there was virtually no impact upon the employment situation for teens or for young adults stemming from the partial government shut down.
Overall, there were 4,443,000 U.S. teens, 13,654,000 young adults and 125,471,000 adults counted as being employed during October 2013, for a total of 143,568,000, which was 735,000 below the previous months total of 144,303,000 working Americans.
Political Calculations is a site that develops, applies and presents both established and cutting edge theory to the topics of investing, business and economics.
Be the first to read Political Calculation's column. Sign up today and receive Townhall.com delivered each morning to your inbox.
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance: William's Edge Webinar for January 30th, 2014 | John Ransom
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for January 26th, 2014 | John Ransom