Almost one in five young adults in the U.S. was neither working nor studying in the first quarter as Black and Hispanic youth remain idle at disproportionate rates.
In the first three months of the year, about 3.8 million Americans age 20 to 24 were not in employment, education or training, known as the NEET rate, the Center for Economic Policy and Research said in a report. That’s up by 740,000,
Inactive youth is a worrying sign for the future of the economy, as they don’t gain critical job skills to help realize their future earnings potential. Further, high NEET rates may foster environments that are fertile for social unrest.
The increase last quarter appears to be driven largely by joblessness, while school attendance rose moderately as campuses started to reopen, according to the CE
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