1.
U.S. markets recover from steep losses
BOSTON, Nov. 9 (UPI) -- In the past year, the share of 16- to 19-year-olds working fell by 8 percent, the largest decline of any age group in the U.S. workforce, an analyst says.
The New York Times reported Sunday it is unlikely the economic outlook for youths and low-skilled workers will improve any time soon.
The Bureau of Labor Statistics reported Friday that 240,000 jobs disappeared in October alone, bringing the unemployment rate to 6.5 percent.
"Low-income people are the big losers when the economy turns down," said Andrew Sum, director of the Center for Labor Market Studies at Northeastern University in Boston.
The newspaper reported that among those ages 16 to 19, access to jobs has declined through the past 10 years. By last month, just 31.4 percent of the age group had held some sort of employment. Meanwhile, the number of people over 65 in the workforce over the last year grew, Sum said.
Sum predicts teens in the year ahead will be "thrown out of the labor market at record levels."
|
|
|
|
|
|
| Additional Business News Stories | |
ERBIL, Iraq, May 24 (UPI) --
Plans for Iraq's semiautonomous Kurdish enclave to build an oil pipeline to Turkey points to a major political and economic realignment in the Middle East that will impact heavily on Iraq.
|
SEATTLE, May 24 (UPI) --
The flight decks and avionics of the U.S. and NATO Airborne Warning and Control System aircraft fleet will be modernized under a $368 million Boeing contract.
|
First-time buyers are driving the expectations that a recovery has begun. Their numbers and market share are growing despite financing roadblocks and competition with investors for entry-level homes. ...
|
It is a whole new ball of wax in Europe these days.
|
| Stories | Photos | People | Comments |
View Caption
