(NewsNation) — The coming months are supposed to be the best summer job market for teens in the past 15 years.
According to the Drexel University center for Labor Markets and Policy, 33 percent of teens ages 16 to 19 will be employed each month from June through August, many getting $15 to $16 an hour for entry level work.
Wall Street reporter Lydia Moynihan joined NewsNation’s “Rush Hour” on Monday to discuss the big summer for teens, along with other changes to the U.S. job market, which continues to grow despite concerns of a looming recession.
“Unemployment for teens is basically at a 70 year low — just 10 percent — and it’s a really good sign for the economy because there are a lot of vacancies that were created during the pandemic,” she said.
Additionally, Moynihan says the job market is almost back at full strength — it just looks different than it did before the pandemic.
She says employment flexibility during the lockdown, because it was such a hot labor market, has given people the opportunity to work remote and make more money.
However, as she says on “Rush Hour,” that has had it’s own trickle down effects, causing certain industries to suffer.
“Education, for instance, has really suffered during the pandemic,” Moynihan said. “A lot of people are leaving teaching. It’s (a) tough job, it’s not super lucrative, and that raises the question of what does that mean for our kids? What does that mean for our education system? What does that mean for our economy down the road? Likewise, health care is also suffering. A lot of people (are) leaving nursing. Will there be a health care crisis down the road?”
Watch the rest of Moynihan’s interview with Nichole Berlie, including her answer about the most surprising job market trend.