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Jobless claims reaching a one month high rising get 372000.
Last week and this comes right after the warning yesterday from the Congressional Budget Office.
It says an additional two million jobs are in jeopardy let's watch it and accept fix that fiscal cliff.
Joining us now is Michael salzman senior research fellow at the employment policies institute.
Thanks for -- mica about to also -- what did you think of the weekly jobless claims today there are higher than expected we expected to go down they went up.
You know I I think it's -- -- discouraging news is discouraging news there is discouraging news and in the overall job report.
I and we've been particularly concerned I guess about the situation for for young adults you know earlier this week.
-- BLS put -- a report on sort of this summer youth employment prospects for young adults.
And we found that the number of teens employed was still it wasn't the lowest on record but it was the third lowest on record and so.
I think especially for some of our younger workers they're just trying to get sort of the work -- they're still have a tough time getting -- but -- -- and you would think that in Washington -- especially aware of it because 52%.
Teenage unemployment rate.
Now ordinarily back half think -- -- so some kid they can't get it but jobless -- and Fries for McDonald's is no big deal.
But you see actually a couple of the bad impact is more than just to the economy it's also in training kids to be irresponsible start getting job right.
-- right interests of some economists called the invisible curriculum others call it soft skills.
Whatever title you wanna bet on it -- there's a value of and it comes from the experience you pick up and at first job and research shows that sort of translates -- on a life that the higher wages better benefits in future jobs.
But on the flip side of that -- with -- missed out on those jobs.
There's been -- that it you know sort of if may say six months spell of unemployment is the equivalent of missing out -- a quarter a year of school.
So I think it's important to teens are getting that experience now they want to be more competitive later on.
Now with a -- and nationwide.
Teenage unemployment rate of 2184%.
Is -- -- the public part of the reason also you say is that is it now laid off older adults are competing for those French fried jobs at McDonald's.
Sure you know -- just older adults I mean there was a survey they came out this week it looked at recent high school our recent college graduates rather.
And over half of them were actually employed a new job that didn't require a college degree.
I'm so whether it's the sort of you know young adults or whether it's older workers.
The teens are facing more competition for for fewer jobs you know some of these jobs -- used to -- two.
Whether it's sad you know bagging groceries or even more so bussing tables now.
-- sort of disappeared as that employers look to sort of economize due to higher labor costs whether it's because of minimum wage or other policies.
-- so what what should we do about this Michael Victoria softball -- raise that minimum wage to help out those kids who do have jobs.
Pay more well.
I I think what you need and when you look at the minimum wage and teens who worked a minimum wage.
They're not stop there I mean it did typical teen -- minimum wages getting -- -- -- one to twelve months in the job.
And so when you look at proposals now to raise the federal minimum wage to 980 I think we didn't.
Say looking at the research that they would only throw more teens out of jobs and eliminate job opportunities -- opposed it.
Giving them the chance to do -- David -- in the past -- -- to move up inexperience right OK thank you very much Michael saw.
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