True Unemployment Rates by Income

[T-Rex91]

Click on the graphic and let's discuss. I expected more unemployment in the high income range. High wage workers may not have the highest unemployment on an ongong basis but in this current time, high wage earners haver a bullseye on their foreheads because you can fire fewer people and generate the same savings target. Thoughts?



iReport — The Great Recession's over? Depends on who you are and where you are in the food chain.

Labor Underutilization Problems of U.S. Workers Across Household Income Groups at the End of the Great Recession:

A Truly Great Depression Among the Nation’s Low Income Workers Amidst Full Employment Among the Most Affluent"
"At the end of calendar year 2009, as the national economy was recovering from the recession of 2007-2009, workers in different segments of the income distribution clearly found themselves in radically different labor market conditions.

A true labor market depression faced those in the bottom two deciles of the income distribution, a deep labor market recession prevailed among those in the middle of the distribution, and close to a full employment environment prevailed at the top. There was no labor market recession for America’s affluent."
The three categories of labor underutilization are:

*Unemployed

*Underemployed

*Labor force reserve or hidden unemployment: "workers who express a desire for immediate employment but are not actively looking for work and thus are not counted as unemployed."

These numbers reflect the total labor underutilization rate at 18.5% at the end of Q4 2009. Certainly not the 9.7% that is being claimed by our Government.
www.calculatedriskblog.com/2010/02/labor-underutilization-rate-by.html

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[Julie Art]

I did a paper on this for my Ed.D. last semester, and my findings from the US Labor Stats and other resources was that those who had more education were less likely to be unemployed, vs. those who didn't. And that could be what has lead to the increase in the college admissions rates across the country, and even in other countries. Those that got laid off went back to school to get that degree. So, having an education right now is a saftey net in these economic times.

[T-Rex91]

Yeah Juice, that absolutelu makes sense. ("those with education are less likely to be unemployed". I just expected more of a bowl (not bell) in the chart. That's at least how my company and othe similar companies are doing it. "Cut the overhead". We had to reduce SG&A by tens of millions so the list they started cutting from was director level and above. ANalysts and managers were largely ignored. And anyone in the market knows that six figure jobs are disappearing and being replaced with five figure jobs.

[Julie Art]

I also have alot of students calling saying they need to re-enroll to finish their degree because they can't get this promotion at their job wuthout it.

It's all very interesting.

[Noble Work]

Both of you ladies are right.

There is a fine line that a term sums them all and it's "It depends on what field you are in".