As is well known, young people are still bearing the brunt of the recession. The employment rate for youth aged 15-24 last month was 55.6 per cent, well down from 60.3 per cent back before the recession in September 2008 due to an increase in unemployment and an increase in those not looking for work. And the proportion of youth in part-time jobs has risen.
The table above -- data calculated by my colleague Sylvain Schetagne from the Labour Force Survey micro data file -- provides some interesting detail on those in this age group still living at home. (We are responsible for the computations and interpretation.)
The total number of youth at home rose by 55,400 or 1.8 per cent between 2008 and 2010. This may partly reflect a move back home by those who have finished their studies or lost their jobs.
As shown, the number of youth at home in full-time jobs has fallen by 94,000, or by 12.8 per cent, and the number who are not looking for jobs has risen by 106,700 or 9.6 per cent. This likely reflects trends primarily among the older part of the age group.
In short, if your kids are in the basement and looking for work, you are far from alone.
This article was first posted on The Progressive Economics Forum.
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