Similar issues, but rates are different. ~7% vs ~20% youth unemployment rates are very different stories. Right now my corner of the country is practically begging for workers, we simply doesn't have the warm bodies post-covid to fill the open positions. Anyone with a pulse, 18-80, is welcome to work for a decent wage, degree or no, and still 7% of the youngins are not employed.

I'm not an economist, but to me 7% unemployment is bad, 20% is a crisis waiting to happen.

[–] PersnickityPenguin@lemm.ee 1 points 1 year ago

Yet the unemployment rate was much higher during the last recession, we hit somewhere around 25% overall unemployment rate until they stopped counting workers who simply left the workforce.