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The federal DOL overtime regulations go into effect this year. Are you ready?

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This report includes a summary of key changes, including the salary level test and salary basis test.

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May 28, 2008
Clouds Hover over Teens' Summer Job Prospects

The top two job choices for teens in 2008 are positions in retail/sales and restaurant/fast food establishments, but the economic downturn is hitting those two sectors and may dim teens' job prospects, according to a survey by Junior Achievement.

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Teens are enthusiastic about their chances for summer employment, with 88.6 percent planning to have jobs this summer, a 15 percent increase from the same poll conducted a year ago.

Retail/sales is the top choice for 21.2 percent of teens who indicated a specific job preference and who planned for summer employment. Another 18.7 percent will seek jobs in restaurant/fast food.

Junior Achievement notes that teens may find the supply of potential jobs diminished this year as employers adopt cautious hiring practices.

"Unfortunately, teens are feeling the effect of our slowing economy by possibly having fewer summer job prospects, which in turn can affect their ability to save for college or a car or other major expenses," says Jack E. Kosakowski, president of Junior Achievement USA. "Given the current climate, it's more important than ever for teens to manage their money wisely and to be well-prepared to compete in the workforce, which Junior Achievement programs can help them do."

The top two reasons why teens plan to work are "extra spending money" (35 percent) and "save for college" (31.1 percent).

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