Even though eating and drinking establishments and retailers were among the top growing sectors in May (with 38,000 and 28,000 jobs added respectively), people in their early 20s lost ground. Workers ages 25 to 34 saw enough gains to more than make up for losses in the month before, but still achieved only 78 percent of the growth in total employment seen by workers over 55.The Economic Policy Institute's recent report showing high unemployment and underemployment among young college graduates, reinforces the bleakness of this picture. These bad statistics for young workers aren't just something that will evaporate, either. Unemployment and underemployment early in adult life is likely to have an effect on these young people's earnings and job prospects persisting for a decade or more. All a part of creating a new normal in which working people expect—and get—less and less.
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