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The number of unemployed millennials is shrinking

Updated at: 02/05/2016 2:56 PM
By The Associated Press

(AP) WASHINGTON - WASHINGTON (AP) — Good news for parents: Millennials in their early 20s found work in January.

The unemployment rate for workers ages 20 to 24 dropped more than a full percentage point to 8.2 percent last month. That's the lowest level since June 2007 and a vast improvement over the double-digit jobless rates that stretched from the Great Recession through 2014.

Men have some catching up to do, though: While the unemployment rate for women in their early 20s was 7.3 percent, the rate for men in the same age range was notably higher at 9 percent.

Unemployment rates also fell for Latinos and Asians. Rates rose slightly for black Americans, seniors and those without high school diplomas.

Overall, U.S. employers added 151,000 jobs last month, a deceleration from recent months. The overall unemployment rate dipped to 4.9 percent from 5 percent.

The data for various demographic groups came from a survey of households that is part of the Labor Department's monthly jobs report.

Unemployment rate by group:
(Numbers in percentages)January 2016December 2015January 2015
White4.34.54.9
Black8.88.310.3
Asian*3.74.04.0
Hispanic or Latino ethnicity**5.96.36.7
Adult men4.54.75.3
Adult women4.54.45.0
Teenagers16.016.118.9
20-24 years old8.29.49.7
25-54 years old4.24.34.8
55 and over3.73.24.2
Veterans of Iraq/Afghanistan*5.75.77.9
No high school diploma7.46.78.6
High school graduate5.35.65.4
Some college4.24.15.2
College graduate2.52.52.8
Duration of Unemployment:
Average length (weeks)28.927.632.0
Jobless 6 months or more (pct.)26.926.331.3
* Not seasonally adjusted
**Includes all races
Source: Labor Department

(Copyright 2016 by The Associated Press. All Rights Reserved.)