Unemployment is continuously growing and currently stands at a rate of 8.5%. To shed some light, Edward Glaeser, an economics professor at Harvard wrote for NYT’s Economix shifting the focus from the unemployed MBA’s to those who have it worse.
The overall unemployment rate for the more educated is only 4.3 percent. Individuals with a high school degree, but no college, have a 10 percent unemployment rate (not seasonally adjusted). The unemployment rate for high school dropouts is 15.5 percent. Moreover, the unemployment rate gap between the most- and least-skilled is widening, not narrowing. Between February and March, the unemployment rate for college graduates increased by one-tenth of a percentage point. Among high school dropouts, the unemployment rate increased by four-tenths of a point.
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