A PROFILE OF UNEMPLOYMENT IN NORTH CAROLINA: Young people face high unemployment, lifetime of lower earnings and economic barriers as result
Young people, ages 16 to 24, have been hit hard by the Great Recession. Labor force participation for young people is at an all-time low and unemployment rates have skyrocketed. The economic downtown exacerbated existing trends, translating into long-term impacts on economic opportunity for North Carolina’s young workers.
For young people, job creation is critical. And a strong unemployment insurance system helps eligible young workers in the immediate term, and over their lifetimes the system will help them through business cycles.
Young people in North Carolina saw their unemployment rate double in the Great Recession.
- The unemployment rate for North Carolinians aged 16 to 24 was 20.6 percent in 2010, double the 2007 rate of 10.3 percent and more than 10 percentage points higher than the overall state unemployment rate in 2010.1
- 1 in 4 workers in this age group have taken part-time jobs because they are not able to find full-time employment.