the recession still isn't over for the 63% of Americans without a college degree
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  the recession still isn't over for the 63% of Americans without a college degree
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Indy Texas
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« on: February 04, 2013, 08:49:08 PM »

http://www.theatlantic.com/business/archive/2013/02/a-case-for-college-the-unemployment-rate-for-bachelors-degree-holders-is-37-percent/272779/

Unemployment rate for...

No HS Diploma (8% of population): 12.1%

HS Diploma (27% of population): 8.1%

All Americans: 7.9%

Some College or 2-Year Degree (28% of population): 7%

Bachelor's Degree or Higher (37% of population): 3.7%
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DC Al Fine
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« Reply #1 on: February 04, 2013, 08:59:10 PM »

This means nothing without pre recession unemployment rates.
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Indy Texas
independentTX
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« Reply #2 on: February 05, 2013, 12:09:45 AM »

Here are the rates from five years ago, before the recession (January 2008):

No HS Diploma: 7.7%

HS Diploma: 4.7%

Some College: 3.7%

Bachelor's Degree or Higher: 2.1%
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DC Al Fine
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« Reply #3 on: February 05, 2013, 06:51:57 AM »

Fair enough. It's interesting to note that on percentage terms, people with "some college" had the worst increase in unemployment rates. Any idea why?
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opebo
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« Reply #4 on: February 05, 2013, 07:13:38 AM »

It is hardly news that those who work the most bear the brunt of the suffering in any condition or situation.  Power compels this.  In case it anyone is not yet aware, we living in a strict and rigid power hierarchy, where rewards and punishments are doled out precisely according to one's position in the hive:

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King
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« Reply #5 on: February 05, 2013, 07:52:48 PM »

So, by forcing that 8% to get a GED, we'll lower the unemployment rate by half a point.  Let's do it.
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Indy Texas
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« Reply #6 on: February 05, 2013, 08:22:23 PM »

Fair enough. It's interesting to note that on percentage terms, people with "some college" had the worst increase in unemployment rates. Any idea why?

My guess is it's because when companies downsized from 2008-2010, entry-level and lower-management jobs were generally the easiest to cut (think call center employees, administrative assistants, salespeople, supervisors), and those jobs tend to be held by people whose education level falls somewhere between high school graduate and college graduate.

You had the people in their 40s and 50s who entered the labor force back when a college degree wasn't considered a prerequisite for non-executive white collar jobs. These people may have taken a couple of college classes in their youth while they looked for a job, or taken non-degree courses for something like becoming a real estate agent or working in the IT field. They got laid off and now when they try to apply for jobs, the automated resume filters will often automatically decline their applications because they're not a college graduate. (And if they do land an interview, their age is usually a deal-breaker).

Then you have the people in their 20s who went to college and either failed out because the public school system woefully under-prepared them for college-level work, or they dropped out because they couldn't afford it. They, ironically, are worse off than their counterparts who didn't bother with college because they have the same credentials but with the albatross of student loans, less work experience from having spent time in school, and employers reluctant to hire them because they assume they'll probably quit and return to school before long.
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