It’s the best summer for teen jobs since 1953. Here’s what they should do with their earnings

It’s the best summer for teen jobs since 1953. Here’s what they should do with their earnings

Teenagers haven't had a better summer for employment since 1953. In June, the unemployment rate for teenagers aged 16 to 19 was 9.9%, the lowest it has been since 1953, according to data from the Bureau of Labor Statistics. A combination of post-coronavirus pandemic factors has led to the jump in teen hiring, according to Alicia Modestino, an economist and professor at Northeastern University in Boston. Older workers who were laid off during the coronavirus pandemic may still be getting unemployment benefits or may no longer want the jobs they previously had — the strongest employment gains have been in fields that can hire teens, such as retail and restaurants. "You have all these workers hesitant to go back, but employers are desperate to hire because it's summer," she said. This means many employers are turning to teenagers — they're eager to work, generally don't need benefits and will usually accept lower wages. To be sure, the recovery in teen employment isn't equal across the board, highlighting an uneven rebound from the coronavirus pandemic. While the unemployment rate for white teens was 9% in June, the rate was 9.3% for Black teens and 13.2% for Hispanic teens. Still, for the