Unemployed
College attendees are now the majority unemployedPosted by RJ and Makay on May 22, 2012 |
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Workers over the age of 25 and who have some college are the majority unemployed, compared to people who only have a high school diploma or less. The Labor Department said that for the 9 million unemployed in April, 4.3 million had not attended college. 4.7 million of the unemployed had gone to college. One reason for this shift is that more people are attending college and people without a high school diploma have decreased.
A majority of the unemployed in this country no longer receive unemployment benefits, according to government sources. Early last year, 75% of the jobless were receiving unemployment benefits. That figure has now dropped to 48%. The shift points to a growing crisis of long-term unemployment. Almost one-third of currently unemployed people have been without a job for over a year.
The pace of U.S. hiring slowed last month with non-farm payrolls adding only 54,000 jobs in May, about a third of what economists had forecasted for the month, according to the Labor Department. It was the smallest monthly job gain in almost a year. The unemployment rate increased to 9.1% from 9.0% in April. Economists surveyed by the Dow Jones News Wire had expected payroll gains of 185,000.
