Labor Secretary Cheers Youth Unemployment Rate of 17.1 Percent..

Solis’ statement marked the release of the Bureau of Labor Statistics’annual youth unemployment report. Solis said that the report showed positive signs for young job seekers, noting that the youth unemployment rate had fallen to 17.1 percent over the past two years.

“Yesterday's report shows that youth employment rose by 2.1 million between April and July 2012, with 19.5 million young people employed last month. That's up from 18.6 million a year ago,” Solis said.

“The youth unemployment rate showed a significant decline, falling to 17.1 percent — down a percentage point from last year and two points from 2010. Meanwhile, the share of young people employed in July 2012 climbed back up to 50.2 percent from its historic low last year,” she added.

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