About 25% of U.S. teenagers will be unemployed this summer.
Themint.org, a program backed by the Northwestern Mutual Foundation, Milwaukee, and the National Council on Economic Education, New York, has published that figure in a summary of results from a recent survey of about 800 people who visited Themint.org website.
Despite the state of the job market, 5 million teenagers will start summer jobs this year, Themint.org estimates, based on visitor responses.
Themint.org also asked visitors to rate how well they managed the money from their summer job.
Only 20% gave themselves an A, saying they had a budget and saved a lot, and 40% gave themselves a C or F, admitting that they spent much or all of what they earned from their first summer job on unnecessary things.