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Tuesday, November 18, 2014

Federal Reserve Released Survey of Young Workers

The Federal Reserve published a new report based on its 2013 Survey of Young Workers. The survey found that 45% of respondents are optimistic about future employment opportunities compared to 21% who are pessimistic and 34% who are not sure. Respondents with higher levels of education, work experience and job opportunities were more likely to be optimistic about their job future than respondents who lack such skills and experiences.

Also, young workers are responding to the labor market's increasing demand for postsecondary credentials and degrees. Thirty-seven percent of the respondents reported that they have the level of education and training needed for the type of job they would like to hold in the next five years. The respondents' confidence in their education increased with each level of attainment. In addition, nearly one-third of the total respondents are currently enrolled in an education or training program. Nonstudents who are interested in additional education named financial considerations as their top barriers to enrollment.

Read the Federal Reserve report.

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