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May 06, 2003

The headlines were full of the domestic unemployment rate's move to 6%. As always, the real question is "what does this mean for recruiting or being recruited?" Just a tiny bit of investigation exposes the fact that we are having simultaneous shortages and excesses in the market. The overall Unemployment Rate breaks down as follows:

Category	Population	% of Workforce	Participation Rate	Unemp Rate
Less Than High School	12,710,000	10.2%	44.4%	8.2%
High School Grad	37,468,000	30.2%	64.1%	5.7%
Some College	34,375,000	27.7%	74.1%	4.7%
Bachelors or Higher	39,465,000	31.8%	78.1%	3.1%

In other words, unemployment is a huge problem for workers with a high school diploma or less. It is a huge problem for employers looking for people with some college or a college degree. As we've always said, the most important information in the unemployment data is the local rate.

From here, it looks like the changes in the workplace over the past decade have really left the less educated end of the population in the lurch. At the same time, the labor shortage in the college educated ranks is getting out of hand quickly.

-Carrie Baggs

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