Need a summer job? Create one
Teen entrepreneurs, faced with bleak prospects for employment once school’s out, are going into business for themselves. They offer advice on how to do it.
Lexie Oliver, 16, has been trying for weeks to get a summer job, to earn spending money and to feel productive. But the search has proved “really difficult,” says the Gainesville, Fla., high school sophomore.
After applying at numerous retailers and getting turned down, Oliver has made a decision: If she wants a job this summer, she figures she’ll have to create her own. She’s already working on starting a handmade-jewelry business by finding materials, tapping a friend to build a Web site and asking relatives for help marketing her wares.
Faced with the darkest summer-job market since the government began collecting data after World War II, a growing number of teens are turning to entrepreneurship. The government’s $1.2 billion youth jobs program is expected to make barely a dent in overall teen joblessness this summer. Employment among 16- to 19-year-olds is still likely to sink to a new low of 31% or 32% this summer, down from a previous nadir of 32.7% in 2008, says Andrew Sum, the director of the Center for Labor Market Studies at Northeastern University in Boston.
More from MSN Money and The Wall Street Journal
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