The December job report released Friday morning by the Bureau of Labor Statistics revealed that the U.S. economy added 155,000 jobs last month. For Generation Y, the employment picture keeps getting better and better.
Currently at the center of the housing demand, most young adults are recently out of college and looking to find their first homes. For this to happen, employment is a must.
Fortunately, among 25 to 34 year olds, the unemployment rate fell to 7.7%, slightly lower than the 7.8% rate for all adults. Although they faced a much more severe recession than other adults, they also saw a much stronger recovery.
December was the first month since July 2008 that young adults saw a lower unemployment rate than the rest of adults. This is something that appears to be somewhat of a trend.
In December, 76.6% of young adults were employed, while only 75.3% were employed in November and 73.9% last December.
Conversely, the employment rate for adults overall was 58.6% in December, unchanged from one year earlier.