New data recently released by the Bureau of Labor Statistics shows that one in five workers had a license in 2015. FiveThirtyEight staffer Ben Casselman takes a look on this new trend which adds to the growing list of factors that are keeping young people out of the job market.
Historically, data on licensing has been patchy, but a separate White House report revealed that occupational licensing requirements had quintupled over the last 60 years. The proliferation of these rules is having a particular effect on young workers trying to gain entry into the job market especially those without degrees:
The unemployment rate for adults ages 18 to 35 with neither a license nor a college degree was 9.9 percent in 2015; for those with a license (but still no degree), it was 5.2 percent.2 Those who do manage to find full-time jobs earn 13 percent less than those with a license.