The unemployment rate for young workers ages 16-24 has continued to climb, hitting a record high in April 2010, even as the economy has strengthened and added more than 570,000 jobs in the first four months of 2010, according to a new report by the U.S. Congress Joint Economic Committee (JEC).

The report, entitled “Understanding the Economy: Unemployment Among Young Workers,” shows that one in five young workers was unemployed last month, a significant increase from prior to the recession when one in eight young workers was jobless.  The 19.6 percent unemployment rate for young workers ages 16-24 in April 2010 is the highest unemployment rate for this age group since the Bureau of Labor Statistics began tracking unemployment data in 1947.

Click here to read the report.


May 2010 (based on April Data)

The U.S. Congress Joint Economic Committee released the May installment of its Understanding the Economy: State-by-State Snapshots series,  which provides easy access to the major economic indicators in all 50 states and the District of Columbia in the areas of jobs, unemployment, personal earnings and housing.

Key economic statistics for each state include:

•    Jobs created or lost since the start of the recession;
•    Jobs saved or created by the Recovery Act;
•    Unemployment rates;
•    Per capita earnings; and,
•    The condition of the housing sector.


A link to each state’s report follows:

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The Joint Economic Committee, established under the Employment Act of 1946, was created by Congress to review economic conditions and to analyze the effectiveness of economic policy.
 www.jec.senate.gov

Increasing oil prices could threaten the country’s economic recovery and limit progress on energy-efficiency policies, according to a new report issued by the Joint Economic Committee (JEC) today on the eve of Earth Day’s 40th anniversary.

The report, titled Rising Oil Prices:  A Potential Threat to Economic Recovery and Energy-Efficiency Policies,” shows that the United States, which has made little progress towards reducing its dependence on oil for transportation, remains vulnerable to oil price spikes.   The share of U.S. Gross Domestic Product (GDP) going to oil expenditures has more than doubled from 1.8 percent in 1993 to 3.8 percent today and is close to the 4 percent level – a level often associated with recessions.  The reliance on oil to meet the country’s transportation needs also harms the environment: the transportation sector has been the largest producer of carbon dioxide since 1999, producing almost one-third of total CO2 emissions in the United States.

An Equal Pay Day report released by the Joint Economic Committee shows that the pay gap between part-time and full-time workers is a key factor driving the continued pay gap between men and women.

The report titled, “The Earnings Penalty for Part-Time Work: An Obstacle to Equal Pay,” shows that part-time workers earn significantly less than their full-time counterparts and that women make up close to two-thirds of part-time workers.

 

April 2010 (based on March Data)

The Joint Economic Committee released a report entitled Understanding the Economy: State-by-State Snapshots,” which provides easy access to the major economic indicators in all 50 states and the District of Columbia in the areas of jobs, unemployment, personal earnings and housing.

Key economic statistics for each state include:

•    Jobs created or lost since the start of the recession;
•    Jobs saved or created by the Recovery Act;
•    Unemployment rates;
•    Per capita earnings; and,
•    The condition of the housing sector.

To view your state's snapshot report, click on the below links:

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 The Joint Economic Committee, established under the Employment Act of 1946, was created by Congress to review economic conditions and to analyze the effectiveness of economic policy.