‘NEETS’ and ‘new unemployables’ — why some young adults aren’t working
- Although the unemployment rate is just 4%, there is a growing share of young adults not working.
- “NEETS” are opting out of the labor force by choice.
- Others, referred to as “new unemployables,” are struggling to find employment despite their best efforts.
Although the unemployment rate has spent 30 months at or below below 4% — a near record — not everyone who wants a job has one. And not everyone even wants a job at all.
Some, referred to as “NEETs,” which stands for “not in employment, education, or training,” are opting out of the labor force largely because they are discouraged by their economic standing.
Others, alternatively, are well-qualified but often younger candidates who are struggling to find positions, comprising a contingent of “new unemployables,” according to a recent report by Korn Ferry.
https://www.cnbc.com/2024/07/01/neets-and-new-unemployables-why-fewer-young-adults-are-working.html