ogc163
Superstar
By Phil Izzo
52%: Percent of the unemployed who have spent at least some time in college.
In a significant shift in the labor market, the majority of people who are unemployed have some college education, reversing the situation that prevailed for decades. In 1992, only 37% of the unemployed had some college experience.
The change is unfolding amid a torpid jobs market, where more time in school translates into lower unemployment and higher wages.
In May 4.8 million of the 9.2 million people older than 25 looking for work had spent at least some time in college, while 48% of the unemployed had only completed high school.
The shift is due primarily to changing demographics in the U.S. A larger share of the population is attending college than ever before. In October of last year, 68.3% of 2011 high school graduates were enrolled in colleges or universities, according to the Labor Department.
As more people seek higher education, a greater share of the labor force has college experience. So, while 52% of the unemployed have attended college, a much larger 65% of those with jobs have attendedthat is up from 53% in 1992.
Since it is more likely that a younger worker will have some college experience, older workers retiring or dropping out of the labor force exacerbate the trend. The share of the workforce with a degree has been rising for decades, while the % with a high-school diploma or less has been falling. For the first time in 2003, the average person in the labor force was more likely to have a bachelors degree or higher than to be just a high-school graduate.
As the educational attainment of the general population shifts, recent labor-force entrants who dont go on to college face an even tougher environment. In 2011, every step up the school ladder translated into a lower unemployment rate and higher pay. People with a professional degree were at the top of the heap with an unemployment rate of 2.4% and a median wage of $1,665 a week. On the bottom were those without a high school diploma, posting a 14.1% unemployment rate and $451 in median weekly earnings.
The difference is particularly stark among young workers. In May, the unemployment rate for 16-24 year old high-school dropouts was 28%, while those in that age group with a bachelors degree or higher had just a 6.8% jobless rate.
There is one area on the education ladder where the benefits are less clearthe difference between high-school graduates and college dropouts. In general, even a little college has been better than none for workers, but that difference appears to be narrowing. In 2011, workers with just a high-school diploma had an unemployment rate of 9.4%, it was 8.7% for college dropouts. Compare that with the 6.8% rate for those with an associate degree.
College dropouts might have slightly better chances in the job market than their peers with just a high-school education, but they also have lost out on work experience and often accumulated student-loan debt. On the positive side, there is no indication that more college students are dropping out. The share of the workforce with some higher education but no degree has barely changed over the past 20 years, even amid larger shifts at both ends of the spectrum.
Number of the Week: Most Unemployed Have College Experience - Real Time Economics - WSJ
52%: Percent of the unemployed who have spent at least some time in college.
In a significant shift in the labor market, the majority of people who are unemployed have some college education, reversing the situation that prevailed for decades. In 1992, only 37% of the unemployed had some college experience.
The change is unfolding amid a torpid jobs market, where more time in school translates into lower unemployment and higher wages.
In May 4.8 million of the 9.2 million people older than 25 looking for work had spent at least some time in college, while 48% of the unemployed had only completed high school.
The shift is due primarily to changing demographics in the U.S. A larger share of the population is attending college than ever before. In October of last year, 68.3% of 2011 high school graduates were enrolled in colleges or universities, according to the Labor Department.
As more people seek higher education, a greater share of the labor force has college experience. So, while 52% of the unemployed have attended college, a much larger 65% of those with jobs have attendedthat is up from 53% in 1992.
Since it is more likely that a younger worker will have some college experience, older workers retiring or dropping out of the labor force exacerbate the trend. The share of the workforce with a degree has been rising for decades, while the % with a high-school diploma or less has been falling. For the first time in 2003, the average person in the labor force was more likely to have a bachelors degree or higher than to be just a high-school graduate.
As the educational attainment of the general population shifts, recent labor-force entrants who dont go on to college face an even tougher environment. In 2011, every step up the school ladder translated into a lower unemployment rate and higher pay. People with a professional degree were at the top of the heap with an unemployment rate of 2.4% and a median wage of $1,665 a week. On the bottom were those without a high school diploma, posting a 14.1% unemployment rate and $451 in median weekly earnings.
The difference is particularly stark among young workers. In May, the unemployment rate for 16-24 year old high-school dropouts was 28%, while those in that age group with a bachelors degree or higher had just a 6.8% jobless rate.
There is one area on the education ladder where the benefits are less clearthe difference between high-school graduates and college dropouts. In general, even a little college has been better than none for workers, but that difference appears to be narrowing. In 2011, workers with just a high-school diploma had an unemployment rate of 9.4%, it was 8.7% for college dropouts. Compare that with the 6.8% rate for those with an associate degree.
College dropouts might have slightly better chances in the job market than their peers with just a high-school education, but they also have lost out on work experience and often accumulated student-loan debt. On the positive side, there is no indication that more college students are dropping out. The share of the workforce with some higher education but no degree has barely changed over the past 20 years, even amid larger shifts at both ends of the spectrum.
Number of the Week: Most Unemployed Have College Experience - Real Time Economics - WSJ
), Engineers, Scientist, Mathematician. Most of the information
. Now I can't get a job. 
College is shame, f*ck them. F*ck 
The writing has always been on the wall.
