BOSTON (CBS) – A new study by the Federal Reserve finds that the Greater Boston labor force is much younger than earlier believed.

WBZ NewsRadio 1030′s Anthony Silva reports

Yolanda Kodrzycki, director of the Fed’s New England Public Policy Center, says as someone who looks at statistics all the time, she was amazed to see how young the labor force in the area is. She says one-third of the labor force is 34 or younger. In Boston/Metro North, comprised of 21 cities and towns in Suffolk and Middlesex counties, it’ 46%.

Kodrzycki says that bodes well for the Boston labor market. The study also shows that most of the unemployed in the Boston area have never received a college degree.

Fed policy analyst Robert Clifford says three-quarters of the unemployed do not have more than a high school education. Clifford says they’re a small share of the labor force, but those aged 16-24 make up a large share of the unemployed.

The findings are part of a lengthy report which helps the state and municipalities develop policy to help job generation.