Fewer young people looking for work
Friday - 9/7/2012, 2:02pm ET
AP Economics Writer
WASHINGTON (AP) - One reason the proportion of adults in the work force has dropped is that many younger adults have given up looking for a job. Or they never started.
The work force consists of those with a job or actively looking for one.
The proportion of people ages 16 to 24 in the work force fell more than 1 percentage point last month to 54.1 percent. That's the lowest "participation rate" for that group in 57 years. Many are likely staying in school or returning to school, hoping for a turnaround in the job market later.
By contrast, the participation rate for workers 55 and older rose from 40.2 percent to 40.4 percent. The rate for those 25 to 54 was unchanged at 81.4 percent.
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