Millennial Unemployment Rate is 12.7 Percent in July

Millennial Unemployment Rate is 12.7 Percent in July PR Newswire WASHINGTON, Aug. 3, 2012 - Generation Opportunity encourages young Americans to call the White House and demand an end to policies that stifle job creation, hiring, and opportunity WASHINGTON, Aug. 3, 2012 /PRNewswire/ -- Generation Opportunity, one of the largest grassroots organizations connecting with Millennials through advanced social media outreach and traditional, boots-on-the-ground organizing, announces non-seasonally adjusted (NSA) 18-29 unemployment rate data for July: The youth unemployment rate for 18-29-year-olds specifically for July 2012 is 12.7 percent (NSA). Additional notes: the youth unemployment rate for 18-29- year-old African Americans for July 2012 is 22.3 percent (NSA); the youth unemployment rate for 18-29-year-old Hispanics for July 2012 is 14.0 percent (NSA); and the youth unemployment rate for 18–29-year-old women for July 2012 is 12.6 percent (NSA). The declining labor participation rate has created an additional 1.715 million young adults that are not counted as "unemployed" by U.S. Department of Labor (BLS)because they are not in the labor force, meaning that those young people have given up looking for work due to the lack of jobs. If the labor force participation rate were factored into the 18-29 youth unemployment calculation, the actual 18-29 unemployment rate would rise to 16.7 percent (NSA). Generation Opportunity President Paul T.