Saturday, March 31, 2007

Unemployment Rate Inequality

Income inequality gets a lot of attention these days, see a recent NY Times article here.

What doesn't get much attention is "unemployment rate inequality," by educational attainment, which is HUGE (see graph above). There is a persistent 5.24% gap between the jobless rate for those with less than a high school degree (average = 7.65%) and those with a college degree or higher (average = 2.41%).

2 Comments:

At 4/01/2007 12:58 PM, Anonymous Anonymous said...

These gaps are inevitable - if not a gap in the level of education - it would be something else.

If everybody had a graduate degree - it would probably bring down the income of the average graduate degree holder - then we would be looking at a different differentiator or be forcing everybody to spend a few more years in school to get an advanced degree to compete in the job market.

 
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