U.S. teen employment falls to one-third

- Only about one-third of 16- to 19-year-olds were employed last summer, down sharply from roughly 60% in the late 1970s. - The drop signals fewer entry-level openings as firms prefer experienced hires or cut training, raising search frictions for teens. - Use this as a classroom case on signalling and hiring costs; source: Miami Times report. (miamitimesonline.com)