High teenage unemployment due to crowding-out effect: Fed paper

federal reserve

Teenage employment rates would be at least 3.5 percentage points higher in the US during 2010, had it not been for a decline in labour demand due to increasing competition in the low‐skilled labour markets, according to a Federal Reserve paper published on Friday.

Christopher Smith, the paper's author, presents updated trends in teen employment and participation across multiple demographic characteristics to test various supply and demand explanations for the decline in employment since the mid

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