America is known around the world as the land of opportunity. All too often, however, opportunity only knocks for some. Despite the opportunities which abound in the United States, for example, youths aged 16 to 24 suffer from a far higher rate of unemployment than the rest of the population. The reasons for this disparity are both structural and societal. Young people do not have the experience or educational attainment typically to compete well in a slow economy when competition for scarce jobs is fierce. Despite this fact, however, American youth are employed in larger numbers than almost any other country in the world. The reasons for this are varied. On the one hand, American youth are expected to work from an early age and familial safety nets are not proffered as quickly in the United States as they perhaps are in other nations. On the other hand, the U.S. economy has been generating jobs despite the recession of the last few years and unemployment in America remains far lower than in most other countries. This paper will analyze the global youth economy by examining the situation of American youth in the United States economy. We will analyze their employment rates, explore the underlying trends, and discuss the role that race and geography play in youth employment. We will then apply the lessons that the United States youth economy has to offer to the developing world.
In order to accomplish this, the paper will be organized into three overarching sections. The first section will take a look at the global youth economy. It will define the term and explore the larger issues involved with youth participation in a nation's economy. The second section will provide an in depth analysis of the youth economy within the United States. It will describe the current situation facing youth, and break out youth participation in the national economy by a number of factors. Part three of the paper will draw some conclu...