Chart: Long Term Unemployment by Educational Level
This eye opening chart comes to us from an article in Bloomberg Business by Gail Degeorge which highlights a recent report by the BLS. According to the article those without a college degree were three times more likely to suffer unemployment. Perhaps that doesn’t surprise us. Interestingly, however, unemployed the college degree seems to have little impact on one’s ability to find employment quickly.
To quote the author, “… once you’re out of work, being better educated barely seems to improve your chances of finding a new job within half a year…. Of those ages 25 or older with at least a bachelor’s degree who were jobless last year, 37.7 percent were out of work 27 weeks or longer. That compares with 38.3 percent for those who didn’t finish high school.” This certainly should give pause to those who think that a college degree is a sure ticket to better employment, or to today’s point, consistent employment. Continue reading