The unemployment rate for college-educated workers has now hit 5%, according to this morning’s jobs report. How high will it go?
The unemployment rate for college-educated workers has now hit 5%, according to this morning’s jobs report. How high will it go?
"The Geography of the App Economy"(with Judy Scherer), South Mountain Economics LLC for CTIA, October 2012.
"Beyond Goods and Services: The (Unmeasured) Rise of the Data-Driven Economy" Progressive Policy Institute, October 2012.
"Manufacturing in the App Economy:How Many Jobs Should We Aim For" (with Diana Carew), Progressive Policy Institute, May 2012.
"Hidden Toll:Imports and Job Loss Since 2007" (with Diana Carew), Progressive Policy Institute, March 2012.
"Measuring the Real Impact of Imports on Jobs" (with Diana Carew), Progressive Policy Institute, March 2012.
"Where the Jobs are: The App Economy" South Mountain Economics LLC (for Technet) February 2012.
"Scale and Innovation in Today's Economy," Progressive Policy Institute, December 2012.
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I’m surprised it’s not worse, therefore, I’m predicting that it won’t get much worse — maybe another point as state and local governments face the music and the stimulus peaks — but the churn is surely pushing some down the value chain and that, plus inhibited borrowing and spending, will squeeze the least educated even more.
I haven’t been able to dream up a sound methodology for predicting specific aspects of unemployment. If I could, I would apply it to the question of how long before it gets better, and I sense that it could be a very long time.
Why is 5% Magic?
Hey, you need to add some color to this blog.
(No need for color from my perspective, the display is fine as it is.)
I think this is intimately tied to the previous post, dropping real PhD pay.
I don’t want to regurgitate my comment from that post, but just mention 2 quick points:
(1) There is more supply of advanced degrees, based on both rhetoric of what it takes to make a good living (the traditional “pork cycle” argument – only it’s apparently not (yet?) a cycle but an upward trend) as well as offshoring of manufacturing propelling young people towards “knowledge economy” careers.
(2) Not quite unrelated to (1), the recent downturn/crisis has hit an economy which had been on the way of becoming a “knowledge economy” with a higher proportion of degree holders.
JNU campus MMS scandal clips download