According to this morning’s BLS report, the unemployment rate for ’middle-educated’ workers–people with some college or an associate degree–hit a new high of 9.1% in September. That’s up from 8.2% in June, and the highest unemployment rate since this data started being collected 20 years ago.
This is not the result of an improving labor market drawing in more willing workers who were sitting on the sideline. The labor force participation rate for this group is actually lower than it was in June. I’m going to do more analysis of the numbers to see exactly what’s happening here.
Meanwhile, the labor market situation for college graduates seems to be bottoming out–’improving’ would be too strong a word.
There is much to be considered when we look at unemployment. Number 1, if one party holds the bulk of the wealth and are vying for office, wouldn’t it be within reason that the party who holds the wealth and with the greatest hurdle to overcome would withhold jobs until after the election. I’m very interested in knowing how others feel on this issue. Working together can make a tremendous difference in this overwhelming effort to revive our country from past errors and omissions.