With a shortage of workers, teens are suddenly in high demand
among teenagers stands at 11.9%, according to the Bureau of Labor Statistics, the lowest rate in October since 1968., which generally rises in the summer and the winter months, spiked as the labor crunch took hold.Between September and October, the hiring of teens jumped 6%, double the rate in 2019, before the pandemic caused labor shortages, according to data from payroll provider Gusto.
Teenagers between the ages of 15 and 19 are also making up a larger share of the workforce, accounting for 13% of all hires in the retail sector as of October, compared to just 6% two years ago, Gusto found. "Small businesses that might not have thought about hiring these teenagers are now opening their doors," said Luke Pardue, an economist at Gusto.
Small businesses that might not have thought about hiring these teenagers are now opening their doors."It's not just limited to holiday retail jobs; there are a variety of different businesses that are short-staffed and looking to hire," said Greg McBride, chief financial analyst at Bankrate.com. Businesses large and small are experiencing either significant or moderate staffing challenges. As a result, many are hiking pay, offering bonuses and lowering their age requirement to find workers to meet customer demand.
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