Political  Calculations

Going by age demographics, the October 2013 Employment Situation Report revealed the following numbers.

  1. 578,000 fewer adults (Age 25 and above) were counted as having jobs in the household survey portion of the report.
  2. 22,000 fewer young adults (Age 20-24) were counted as being employed in October 2013.
  3. 135,000 fewer teens (Age 16-19) were working in October 2013.

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.

Change in Number of Employed Americans Since Total Employment Peak in November 2007, through October 2013

Political Calculations

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.

TOWNHALL FINANCE DAILY

Get the best of Townhall Finance Daily delivered straight to your inbox

Follow Townhall Finance!