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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsLong-Term Unemployment Is Elevated Across All Education Groups
http://www.epi.org/publication/long-term-unemployment-elevated-education/Job opportunities have been so weak for so long that jobless workers continue to get stuck in unemployment for unprecedented lengths of time. Currently 3.7 million unemployed workers have been searching for a job for more than six months, more than three times the number of long-term unemployed there were in 2007, before the recession began. We often hear the claim that long-term unemployment in this recovery is due to unemployed workers not having the education or skills for the jobs that are available. A look at the data, however, shows that this is not whats driving todays long-term unemployment crisis.
The figure below shows there is a dramatic increase in long-term unemployment relative to before the recession started at all levels of education. While workers with higher levels of education face substantially lower long-term unemployment rateswhich is always true, in good times and badthey too have long-term unemployment rates that are more than three times as high as before the recession started. Long-term unemployment is high not because workers lack the right education or skills, but because employers have not seen demand for their goods and services pick up enough to need to significantly ramp up hiring. See this detailed analysis, which provides additional breakdowns of long-term unemployment by age, gender, race/ethnicity, occupation, and industry, and demonstrates that all groups are experiencing substantially higher long-term unemployment rates than they were before the recession started.
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Long-Term Unemployment Is Elevated Across All Education Groups (Original Post)
xchrom
Apr 2014
OP
Ichingcarpenter
(36,988 posts)1. Not including the oligarchs.
CEOs, billionaires etc. This data is for the 95%
xchrom
(108,903 posts)2. +1
FarCenter
(19,429 posts)3. What field is the degree in and how long ago was it granted?
Lots of people are highly educated in the wrong thing.
And the degree that you earned 25 years ago is less important than what you have done since.