US Unemployment 3-2-24

The US Population estimate as we enter 2024 is 335,893,238. This is an increase of 1,759,535 over the past year and includes illegal immigrants.

https://www.census.gov/library/stories/2023/12/happy-new-year-2024.html 

US Unemployment by age group as we enter 2024 can be estimated, but I couldn’t find current data.

In 2022, about 17.96 percent of the U.S. population fell into the 0-14 year category, 64.91 percent into the 15-64 age group and 17.13 percent of the population were over 65 years of age. Jan 25, 2024

The US 2024 population is 335,893,238. About 18% are under age 14, 65% are age 15-64 and 17% are age 65+.

Age Grp    Population%     Population

0-14 years   17.96%      60,326,425.54

15-64 years  64.91%   218.028,300.70

65+ years   17.31%       58.143,119.49

Unemployment of US population age groups shows that younger groups of working age US citizens have higher levels of unemployment.

US unemployment by age group in 2024

Age      %

16-19   10.6

20-24    5.9

25-34    3.9

35-44    3.0

45-54    2.7

55+       2.9

Black unemployment for age 16-65 is high at 10.4%. I suspect that most of this unemployment is in age groups 16-19 and 20-24. I also suspect that business closures in Black areas have an impact.

https://www.bls.gov/web/empsit/cpseea10.htm

Comments

The US Workforce Participation Rate is 62.5%. That means that 209,933,274 US Citizens are working and 125,959,964 are not working.

The US needs to employ more in the 16-19 age group in part time and summer jobs and the 20-24 age group in part time and summer jobs if they are in college and full time if they are not in school.

19% of adults over age 65 are employed in the US. The average Social Security check is $1,767.

80% of adults over age 65 own their own homes. 40% of these adults no longer have mortgage debt and own their homes outright. It’s a good idea to have your mortgage paid off by age 60. It’s also good to work until age 75 if possible. It’s a great idea to buy your first home at an early age. You will find out that a home pays for itself. Homes appreciate quickly. Renting is not a good idea.

Norb Leahy, Dunwoody GA Tea Party Leader