Not good for social stability.
There was a line in there that said that a teen that is out of work for 6 months, statistically will continue that trend for up to 10 years. I'd say that this is most definitely not good for social stability. If you read through the comments on the site, people suggest that this is because immigrants are taking the fast-food and other jobs that were traditionally held by teenagers.
Here in NC, I have noticed many hispanics working at fast food places, but I've also noticed many white and African American workers that are older working at them. I would guess that many of these people are underemployed. So, it would seem that the teenagers are losing jobs to the under-employed adult and potentially the immigrants.
I never had difficulty finding jobs as a teenager. I worked at sandwich shops, as a janitor at a daycare center, at Pizza Hut and in the summers I painted houses. I wonder how I would fare these days?
If I'm an employer, why would I hire a dropout - black, white, hispanic, asian, of any ethnicity - when there are other people who are capable of doing the job? This can (and does) lead to underemployment and the issues that we now have to deal with, but from the employer's side I can see where they're coming from. You can hire somebody who (probably) has no experience and didn't finish high school for whatever reason, or you can go with a person who at the very least did finish school. It seems to be an easy decision to make.
The real problem here is the educational system and economics that breed environments where people aren't finishing school, or otherwise not being prepared to enter the workforce.
You're right in the sense that the educational and economic system is failing blacks an minorities. Watching The Wire, you see a perfect example of people who are born into violence and drugs and generally a life of welfare where they see rampant police abuse and hopelessness. When you are born into this system, it's really hard to imagine any other life. Dropping out of school for many of the teens born in ghettos is only another part of life.