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CNN Live At Daybreak

Jobs for College Students, Teenagers Hard to Find

Aired April 25, 2003 - 06:46   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.


THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.


CAROL COSTELLO, CNN ANCHOR: Time for a little business buzz now. Attention teenagers, are you looking for a summer job, well you may want to get that lemonade stand ready because jobs are hard to come by.
Let's go back to New York and check in with Susan Lisovicz.

Good morning again -- Susan.

SUSAN LISOVICZ, CNN FINANCIAL NEWS CORRESPONDENT: Good morning, Carol.

A real sign of the times and it's grim. Teens looking for work this summer are facing a major obstacle, adults. Out of work grown- ups have already snagged many of the jobs teens usually count on, you know those jobs at summer camps and retail and restaurants. Thanks to a steady stream of layoffs, persistently high unemployment rates have forced many breadwinners into jobs typically reserved for teens. And analysts expect the situation to get even worse before things improve. As laid off workers use up their unemployment benefits, more may turn to flipping burgers while waiting for the economy to start cooking again.

And, Carol, of course obviously that carries through to college graduates, very grim out there. A lot of them looking for unpaid internships as a way to start networking in the hopes of getting a job down the line.

COSTELLO: That's so depressing.

A quick look at the futures before you go.

LISOVICZ: Slightly lower open, and actually the weakness in weekly jobless yesterday was one of the reasons the market sold off. The dip -- the Dow dipped nearly 1 percent, the Nasdaq gave back two- thirds of a percent on worse-than-expected jobless data as well as mixed earnings reports.

The economy taking center stage today. Reports due on the initial reading, the gross domestic product for the first quarter of the year, also out, consumer sentiment and data on the housing sector. Also keep an eye on shares of Amazon.com which posted earnings after yesterday's closing bell, topping expectations, higher in the premarket -- Carol.

COSTELLO: Appreciate it. Thank you, Susan, we'll catch you on Monday. LISOVICZ: Have a great...

COSTELLO: You too, Susan, have a great day.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com







Aired April 25, 2003 - 06:46   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for a little business buzz now. Attention teenagers, are you looking for a summer job, well you may want to get that lemonade stand ready because jobs are hard to come by.
Let's go back to New York and check in with Susan Lisovicz.

Good morning again -- Susan.

SUSAN LISOVICZ, CNN FINANCIAL NEWS CORRESPONDENT: Good morning, Carol.

A real sign of the times and it's grim. Teens looking for work this summer are facing a major obstacle, adults. Out of work grown- ups have already snagged many of the jobs teens usually count on, you know those jobs at summer camps and retail and restaurants. Thanks to a steady stream of layoffs, persistently high unemployment rates have forced many breadwinners into jobs typically reserved for teens. And analysts expect the situation to get even worse before things improve. As laid off workers use up their unemployment benefits, more may turn to flipping burgers while waiting for the economy to start cooking again.

And, Carol, of course obviously that carries through to college graduates, very grim out there. A lot of them looking for unpaid internships as a way to start networking in the hopes of getting a job down the line.

COSTELLO: That's so depressing.

A quick look at the futures before you go.

LISOVICZ: Slightly lower open, and actually the weakness in weekly jobless yesterday was one of the reasons the market sold off. The dip -- the Dow dipped nearly 1 percent, the Nasdaq gave back two- thirds of a percent on worse-than-expected jobless data as well as mixed earnings reports.

The economy taking center stage today. Reports due on the initial reading, the gross domestic product for the first quarter of the year, also out, consumer sentiment and data on the housing sector. Also keep an eye on shares of Amazon.com which posted earnings after yesterday's closing bell, topping expectations, higher in the premarket -- Carol.

COSTELLO: Appreciate it. Thank you, Susan, we'll catch you on Monday. LISOVICZ: Have a great...

COSTELLO: You too, Susan, have a great day.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com