This bulletin examines the labor market experience of youth in the United States and eight other industrial countries from the early 1960s to the late 1970s. The analysis focuses upon unemployment, the most visible and measurable form of labor underutilization. The report highlights the size of the youth unemployment problem and discusses some of…

Social statistics may exaggerate the degree of hardship caused by labor market problems. Yet, in many ways social statistics underestimate the degree of hardship caused by extended unemployment, underemployment, and low wages. Therefore, new measures are needed to reassess long-term and cyclical labor market developments, the changing status of…