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1 1 (August 27, 2020)

handle is hein.crs/govdbmy0001 and id is 1 raw text is: Gongesssoa Research Service Youth Labor Force Indicators in the Context of COVID-19 August 27, 2020 The Coronavirus Disease 2019 (COVID-19) pandemic led to the current recession that began in February 2020 and has resulted in large job losses, from which the economy has only partially recovered. This Insight discusses recent and longer-term trends in three key labor market indicators, and the potential implications for youth in the current economy. It examines the * labor force participation rate (LFPR)-the percentage of individuals in the population who are employed and who are unemployed (i.e., the share of the population in the labor force); * employment-to-population ratio-the proportion of individuals in the population who are employed; and * unemployment rate-the percentage of individuals in the labor force who are unemployed. Recent Changes Teens (16-19), young adults (20-24), and prime-age adults (25-54) were generally faring well in the labor market at the onset of the current recession. Labor market outcomes deteriorated in the recession's early months, but partially rebounded by summer (Figure 1). From January to July 2020, the LFPR waned for teens and young adults. During this period, teen and young adult unemployment rates peaked in April 2020 at 31.9% and 25.7%, respectively, before improving to about 20% in July. Prime-age workers also experienced a rapid increase in unemployment through April, followed by a decrease. Employment for teens and prime-age workers dropped 6 to 7 percentage points from January to July, compared to 13 percentage points for young adults. Congressional Research Service https://crsreports.congress.gov IN11491 CRS INSIGHT Prepared for Members and C om m ittees of C onqress ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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