Monday, November 29, 2010

Unemployment and Education

On the drive home from work last week, I heard a story about unemployment statistics on NPR.  The person was saying that unemployment rates should be viewed in a more stratified manner, when it comes to the correlation to education levels of the American workforce.  I can't remember the exact numbers, but they were very similar to the 2009 numbers reported by the Bureau of Labor Statistics (BLS), except for the unemployment rate was closer to 10% on average.  In this chart from 2009, it is easy to see that more educated workers have lower unemployment rates.  This does not take in the consideration the number of potential workers who have fallen off the unemployment lists.  These individuals are "unemployed" if not technically reported as such.  This would drive the unemployment rate up to around 15-18%.

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