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Ryan Detrick: Unemployment rate for U.S. young adults falls to 7.1 percent

Ryan Detrick: Unemployment rate for U.S. young adults falls to 7.1 percent
U.S. youth unemployment falls to 7.1 percent

Ryan Detrick, chief market strategist at Carson Group, highlights a continued decline in the unemployment rate for 20-24 year olds.

According to Detrick, the rate fell again last month, now reaching 7.1% compared to levels well above 9% late last year. Detrick argues that fears about artificial intelligence displacing jobs for younger workers have not materialized based on these latest numbers.

Detrick has previously reported that Carson Group’s proprietary economic index is showing rapid improvement in the U.S. economy, reducing recession concerns in earlier updates (see article). He has also analyzed recent stock classification changes, noting that Micron is now seen as a growth stock while Amazon is categorized as value (more here). These observations reflect Detrick’s continued focus on key economic trends.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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