Unemployment By Education
Calculate Risk reminds us of the importance of education…
This graph shows the unemployment rate by four levels of education (all groups are 25 years and older). Unfortunately this data only goes back to 1992 and only includes one previous recession (the stock / tech bust in 2001). Clearly education matters with regards to the unemployment rate – and it appears all four groups are generally trending down.
Although education matters for the unemployment rate, it doesn’t appear to matter as far as finding new employment.
Note: This says nothing about the quality of jobs – as an example, a college graduate working at minimum wage would be considered “employed”.
Disclosure: None.
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The data seems logical to me. If further education did not yield higher employment rates, fewer would pursue higher education. Would be curious to see the number broken down further into categories quantifying job quality and things of that nature. I appreciated the article.