Teen Summer Jobs Scarce
More U.S. teenagers are planning to seek summer jobs this year, though the economic downturn is expected to reduce the number of employment opportunities awaiting them, according to Junior Achievement.
In a survey of more than 700 teens nationwide, 89 percent said they planned to work this summer, a 15 percent increase from last year, the Colorado-based educational non-profit reported this week.
Despite the gains, many sectors that employ large numbers of teens for the summer are cutting back on hiring plans to offset weaker sales, including retail outlets and restaurants, the group said.
"Given the current climate, it's more important than ever for teens to manage their money wisely and to be well-prepared to compete in the workforce," Jack Kosakowski, the president of Junior Achievement USA, said in a statement.
Kosakowski said cautious hiring plans will make it harder for teens to earn extra spending cash or save for college, the two main reasons teens cite for working over the summer.