Old timers often say that the young people in the U.S. today don’t have the work ethic of their predecessors. This may be true, but is this perceived weakness a symptom of a greater problem? Has the opportunity for many young people to find employment diminished, and thus made it harder for them to learn the necessary work ethic on the job?

Before we try to answer that question, let’s examine some evidence from a new analysis by the Employment Policy Institute (EPI) that shows unemployment among teens without a high school diploma is greater than 50% in two very large cities. CNS News reports:

Using U.S. Census Bureau data from May 2013 to April 2014, the analysis reveals that in Riverside-San Bernardino area of Southern California, the unemployment rate for teenagers 16 to 19 years old who don’t have a high school diploma is 54.2 percent. In the Portland-Vancouver-Beaverton, Ore., metropolitan area, the unemployment rate from that population is 53.8 percent. “These numbers are staggering,” Michael Saltsman, director of research at EPI told CNSNews.com. “Teens across the country this summer are missing out on valuable work experience as they continue to suffer through an extended period of high unemployment and difficult job prospects.”

The national average for this age group and skill level is 21.6%, but the high unemployment rate for the least skilled young people is not contained to the west coast. Rounding out the top ten on the list are Los Angeles-Long Beach-Santa An, CA (39%), San Diego-Carlsbad-San Marcos, CA (37.5%), San Francisco-Oakland-Fremont, CA ( 35.2%), Philadelphia-Camden-Wilmington, PA-NJ-DE (33.2%), Chicago-Naperville-Joliet, IN-IN-WI (33%), Pittsburgh, PA (32.9%), Sacramento-Arden-Arcade Roseville, CA (32.1%), and Baltimore-Towson, MD (31.4%)

The issue of teen unemployment is a complex one that has grown worse over the years. Often, people point to minimum wage laws as a driving force behind these disappointing employment numbers. Minimum wage is certainly partially to blame for the issue. Minimum wage laws reduce opportunities for employment by making low paying jobs for unskilled teenagers illegal. Companies are forced to lump those job functions in with a higher wage earner’s job duties, replace the duties with automation, or stop providing the services.

The poor economy is also to blame. The great recession has forced skilled workers to accept lower paying jobs (sometimes more than one) in order to support their families. This takes jobs away from the least skilled and forces more highly skilled workers to accept positions where they are underemployed. This obviously has negative short term effects, but also will have negative long term impacts that could hinder the future career prospects of young unskilled workers and more highly skilled older workers by limiting opportunities today.

The Federal Reserve System is also responsible for this epidemic. By devaluing the dollars the Fed has decreased the quality of life in this country. In order for families to live the life they have become accustomed and feel entitled, both husband and wife need to work in order to match the purchasing power of one salary used to provide years ago. This had led to an increase in the amount of people competing for jobs and acts as another force to limit employment opportunities for the least skilled workers in society.

In order for teens and adults alike to have the best opportunities at prosperity, we must advocate for the removal of government regulatory shackles at all levels – patents, licensing, minimum wage laws, etc. Only allowing individuals to be truly free to trade their skills and property with their fellow man will unleash our true potential to create prosperity for ourselves and each other.

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