In the fourth quarter of 2013, the standard unemployment rate (referred to as U-3) for native-born adults who have not completed high school was 16.6 percent, while for those with only a high school education it was 8.5. The U-3 unemployed are people who have looked for a job in the last four weeks.
The broader U-6 measure of unemployment — which includes those want to work, but have not looked recently, and those forced to work part-time — was 28.7 percent for native-born adults who have not completed high school and 16.5 percent for those with only a high school education.
The total number of native-born, working-age adults (18 to 65) of any education level not working (unemployed or out the labor force) was 50.5 million in the fourth quarter of 2012 — 8.8 million more than in the fourth quarter of 2007, and 14.7 million more than in the same quarter of 2000.
n the fourth quarter of 2013, there were only two working-age natives holding a job for every one that was not employed. This represents a huge deterioration. As recently as 2000, there were three working-age adults holding a job for every one not working.
RE: In the fourth quarter of 2013, the standard unemployment rate (referred to as U-3) for native-born adults who have not completed high school was 16.6 percent, while for those with only a high school education it was 8.5. The U-3 unemployed are people who have looked for a job in the last four weeks.
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Here’s the interesting question — what is the average time it takes for a laid off employee who is over 50 years old to find another job?
I ask this question because a significant number of those who were laid off during the mortgage meltdown were over 50 years of age.