A recent report highlights the ongoing labor market challenges faced by young New Yorkers, particularly those of color. Although overall unemployment has improved, the youth unemployment rate remains at a concerning 13.2% as of 2024. The disparities are stark: Black youth face a staggering 23.8% unemployment rate, while Asian youth hit 19.5%. male youth are particularly affected with 16.3%, versus 10% for females. With traditional job prospects limited, there's a marked increase in youth entrepreneurship in sectors like transportation and professional services, indicating adaptability in tough economic conditions.
Youth unemployment in New York City remains a pressing issue, particularly for young people of color, despite signs of recovery in the job market.
The report highlights alarming racial disparities in employment, with Black youth facing the highest unemployment rates at 23.8%, significantly above pre-pandemic levels.
Collection
[
|
...
]