About JA :: What's New
|
Cold Economy Frosts Teen Summer Job Prospects |
||
|
COLD ECONOMY FROSTS TEEN SUMMER JOB PROSPECTS Teens counting on getting jobs in sectors strongly affected by economic downturn. Colorado Springs, Colo. – This summer’s economic climate might deliver a frigid blast of disappointment to teens seeking summer employment. According to the Junior Achievement 2008 Teens and Summer Jobs poll, teens are enthusiastic about their chances for summer employment, with 88.6 percent planning to have jobs this summer, a 15 percent increase from the same poll conducted a year ago. Traditionally, the top two job choices for teens are positions in retail/sales and restaurant/fast food establishments. In the 2008 Teens and Summer Jobs poll, these are once again the top two job prospects. Unfortunately, both sectors are being battered by the economic downturn. Retail/sales is the top choice for 21.2 percent of teens who indicated a specific job preference and who planned for summer employment. Another 18.7 percent will seek jobs in restaurant/fast food. Higher energy prices and declining housing values have sliced consumers’ discretionary income—a liability for both retail businesses and restaurants that depend on residual consumer income. Additionally, the retail sector is being pressured by overcapacity and a credit squeeze. Restaurants are struggling with maintaining profit margins as food prices soar. Teens may find the supply of potential jobs diminished this year as employers adopt cautious hiring practices. The top two reasons why teens plan to work are “extra spending money” (35 percent), and “save for college” (31.1 percent). Girls indicated that helping to pay for college is the top reason they plan to work this summer (35 percent). For 39.5 percent of boys, the primary motivation for getting a summer job is to earn extra spending money. Jack E. Kosakowski, president of Junior Achievement USA, noted, “Unfortunately teens are feeling the effect of our slowing economy by possibly having fewer summer job prospects, which in turn can affect their ability to save for college or a car or other major expenses. Given the current climate, it’s more important than ever for teens to manage their money wisely and to be well-prepared to compete in the workforce, which Junior Achievement programs can help them do.” The complete poll results can be found at www.ja.org. Methodology JA offices requested participation from area students, many of whom were not involved in JA programs. Because the respondents were not randomly selected, no margin of error for this report can be calculated. The survey results cannot be represented as a scientific cross-section of American students between the ages of 13 and 18+. However, the ethnic/racial mix of respondents approximates the national distribution of the U.S. population by ethnic origin and race, indicating that the responses and attitudes provided in the results may be a broad indicator of student perceptions and preferences nationally. About Junior Achievement® -30-
|
||
