NewEdge Wealth CIO Cameron Dawson discusses seasonal stretch as investors eye the presidential cycle for stock guidance on 'Making Money with Charles Payne.'just around the corner, millions of young adults are poised to join the workforce – and they're in luck. from the Economic Policy Institute found the Class of 2023 is graduating into the best labor market for young workers since 1953.
Historically, young adults in the U.S. are unemployed at 2.6 times the rate of their older counterparts due to their lower levels of education, work experience and skills. But when businesses faced a pandemic-driven labor shortage, they turned to younger workers with less experience to fill those employment gaps.
On top of that, young workers are now more likely to have predictable work hours, according to the study. Nearly half of young adults are working full time in 2023, an increase of 1.2 percentage points from 2019. A small percentage of workers – 6.8% – have hours that vary in their main job in 2023, down from 7.5% in 2019. The share of young workers who hold less than one job also declined marginally to 4.2% from 5.1% in 2019.