ERIC Number: ED251531
Record Type: RIE
Publication Date: 1983-Jun
Reference Count: 0
Youth Unemployment in New York City: The Cost of Doing Nothing.
Interface, Inc., New York, NY.
This paper reports on a study of the costs of youth unemployment in New York City. The dollar cost is measured in two ways: first, by calculating the cost of direct benefits paid by the city to unemployed 16 to 21 year olds; and second, by projecting the tax revenues and productivity that these young people would add to the city economy if they were employed. Statistics are given which show that the effective youth unemployment rate in New York City in 1982 was 40 percent. For every one thousand 20 year olds put to work, it is asserted, the city would regain $163,702 in income and sales tax and sales tax revenues. This figure, added to the direct cost of public assistance, would increase the city's income by about $1.22 million, or more than $1,200 per youth. Furthermore, a reduction of the unemployment rate to 21.9 percent for 16 to 19 year olds and 9.5 percent for 20 to 21 year olds would add almost $10 million to the city's coffers and contribute over $300 million a year to the city's economy. Twelve statistical tables are included in the report. An appendix contains a chart contrasting local unemployment rates with national unemployment rates, by race and sex. (KH)
Publication Type: Numerical/Quantitative Data; Reports - Research
Education Level: N/A
Authoring Institution: Interface, Inc., New York, NY.
Identifiers: New York (New York)