Submitted by Steve Pearce on Wed, 2010-03-03 08:35
We are told the unemployment rate is 9.7% for the month of February. It may be considerably higher, but that is fodder for another conversation.
All employment numbers are aggregates. The 9.7 (or whatever number you feel comfortable) is actually an average of lots of different numbers. Those different subsets are where the real information is in the unemployment report.
For example, people without a high school diploma have an unemployment rate of 15.2%. College graduates have an unemployment rate of 4.9%. That is a stark reality.