Summer Jobs

Young people looking for summer jobs this year are set to face some of the worst labor market conditions in a while. There’s a lot of stickiness in the labor market, so during a downturn firms don’t necessarily cut back as much as they would if real life were a frictionless plane (instead, you just like nominal wages stay flat as real wages decline). But many slightly unorthodox corners of the labor market — the summer jobs segment among them — don’t have these kind of features and it’s easy enough to just avoid hiring as many part time temporary workers as you did the year before.