School Impact But What Else?
Age groups 16-19 and 20-24 were initially the hardest hit in the Covid-19 pandemic.
This makes sense.
Those age groups were the least skilled, most likely to be in school, and most likely to be in restaurant and other hard hit service jobs.
As noted in Hooray! Employment in Age Group 16-19 is Fully Recovered, Who Else is Winning? the employment population ratio of those aged 16-19 is the only age group that has fully recovered.
Recovery Difference
Employment recovery has outright stalled in many age groups as the lead chart shows.
This makes some sense in older age groups because the stock market recovery has been nothing short of amazing.
Many people in age groups 59 and over might reasonably choose to retire.
What About Age Group 20-24?
Age group 20-24 is largely still in school, and there are plenty of openings in the types of jobs available to that demographic.
Free Money Shotgun
There have been three rounds of stimulus and unemployment aids, and all of them paid more to unemployed low skill workers than they made being employed.
Biden says the latest jobs report is proof we need more aid.
Others, including me, say the shotgun approach of free handouts provides a huge incentive to speculate in the stock market rather than work.
For discussion, please see Biden Comments on the Jobs Report and Gets the Key Message Wrong
Mish
