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[IWS] FAILURE TO LAUNCH: STRUCTURAL SHIFT AND THE NEW LOST GENERATION [30 September 2013]
IWS Documented News Service
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
Georgetown University Center on Education and the Workforce and The Generations Initiative
FAILURE TO LAUNCH: STRUCTURAL SHIFT AND THE NEW LOST GENERATION [30 September 2013]
by Anthony P. Carnevale, Andrew R. Hanson, Artem Gulish
[full-text, 78 pages]
[full-text, 28 pages]
Between 1980 and 2012, significant structural economic shifts produced a new postsecondary phase in the labor market entry of young adults, delaying their career launch. Older adults are working longer; however, they are not crowding young adults out of the labor market. In fact, today there are more job openings per young person resulting from retirements than there were in the 1990s.
The report's major findings are:
- In 1980, young adults reached the middle of the wage distribution at age 26; today, they do not reach the same point until age 30. For young African Americans, it has increased from age 25 to 33.
- Young adults’ labor force participation rate has returned to its 1972 level, a decline that started in the late 1980s and has accelerated since 2000.
- Older workers aren't crowding young adults out of the labor market: there are more job openings created from retirements per young person today than there were in the 1990s
- The 2000s were a lost decade for young adults. Between 2000 and 2012, the employment rate for young fell from 84 percent to 72 percent.
- Opportunities have especially dwindled for young men, high school graduates, and young African Americans.
Press Release 30 September 2013
GEORGETOWN STUDY FINDS THE AGE AT WHICH YOUNG ADULTS GET TRACTION IN THEIR CAREERS HAS INCREASED FROM AGE 26 TO 30, AND TO AGE 33 FOR AFRICAN AMERICANS
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