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The ordering of the legend should be more logical. (ie: No HS, HS Grad, Associates, Bachelors or Higher). It currently looks random.
Nice plot. Would be interesting to see another plot of these values normalized by, for example, regressing out the overall trend. This would make it very clear whether one group or another was more / less affected by changes in the economy. As it stands, I feel like the "No HS" group is worse off, but I can't really tell.
I assume these rates are calculated by only including those looking for work. I would also be interested in viewing sort of the inverse of this, the labor force participation rate by education. This would also include "discouraged workers" in each category that are not looking for work and therefor wouldn't be counted as unemployed. My guess is that the impact of opioids is rather substantial. One study states that opioid abuse is responsible for 20% of the decrease in overall labor participation rates.
Real talk, the cruelest truth in this graph is that a 2 year degree from college does almost nothing compared to just High School. Might as well finish your Bachelors.
So people with bachelors or higher are among the lowest unemployed/ highest employed. So why are people saying they can’t find jobs? Are they exaggerating or is there other issues ?
Nice chart. I wonder how the chart would look if we compared on the average income of these different categories. You're more like to have a job with a degree, but I wonder if that's really because those people are that much more employable or if it's because the people who have the skills and determination to finish school also have the skill and determination to find a job and not give up after a couple rejections.
For awhile in the 90s, I did phone surveys. At the end, we would ask demographic questions, including educational level and income.
There was a very clear correlation between ed level and income. Not surprisingly, the higher the education, the higher the income. PhDs having the highest income, next in order - Masters, BA, AA, HS Grad, and the lowest being HS dropouts.
Clearly, education matters. They say this is less and less true these days, but outside of the IT world, it still matters. And even in IT, you'd better have pertinent IT certifications on your resume. So it's OK to be just an HS grad, but without those applicable certs, you're not likely to get a job.
People love to bring up Bill Gates, who was a college dropout. But even he had some college, and being a hard-driven genius makes up for higher education. He's an outlier - that's all.
Goes to show unless you have a duh-gree your life will be spent chipping office worker ass off of toilets. Also why at 46 I'm going back to school to get my bachelors.
This is great but doesn't account for underemployment and the pressure to accept underemployment due to student loan debt. Not sure how it could, but I wanted to call it out.
I see evidence of the dilution and inflation of the value of public/higher education: look at how far no high school degree was from the other 3 levels of education in 2000... Now take a look at the most recent data plots on the far right: no high school diploma has closed the gap considerably.
how about an unemployment rate in field people studied by education level? I have a bachelors but couldn't get a job in the field I studied in
I would like to see this plot by age group, since there is definitely correlation between age and unemployment.
This reminds me of the shitty time I had looking for work upon graduating college in 2010. Damn that sucked.
Wow, this is nuts. I graduated in '09...so that's why it was so hard those first few years, good to see it's better now, and I'm better.
I would like to see this with a continued breakdown of higher education (masters, doctorate, jurors doctorate). Maybe a separate chart with salary data.
I wonder how much of this has to do with education vs it being a reflection of higher standards for one's self or a higher personal drive...or maybe it has to do with the need to pay off the mountain of soul crushing debt.
Awesome, could you add a trendline for the overall unemployment rate?
So not only is the overall unemployment rate declining, unemployment rates of different education levels are starting to even out.
Based on this it makes me feel you need to really get a HS diploma and if you choose to go onto higher ed, having a Bachelors pays off much more than just an Associates.
I find it very interesting and compelling to use a graph like this for the following argument: With other supporting data, one could explain to people that graduating high school and avoiding college is a great way to have a good life and do it whilst paying less mney. Going to college burdens many people with debt and appears to give a diminishing return of investment to the odds of being hired to an appropriate job.
On the other hand, I think a good argument is to look deeper as to who and what degrees are consistently being unemployed. Perhaps even go as far as look at the marital status, sex, nationality, degree, job industry, race, and location of living. These individual factors mean extremely little by themselves (e.g. feminists proclaiming gender bias by only looking at men vs. women charts), but a comprehensive, multivariate analysis may provide us with a better understanding of just what markets to avoid for jobs.
I am leaning toward the latter. I would definitely like to see a little more detail, even if you are including just three or four different data categories.
so does this mean that it IS worth going into debt for an education because itll mean you get the same job opportunities that they got in the early 90s? i see people complaining all the time about job opportunities after getting a degree
Damn I'm one of the two and half people out of one hundred with a bachelor's who can't find a job. Shucks, been 8 months now.
It is interesting to see how similar an Associate's degree is to HS grad. Also, the jump to Bachelor's and up really has it's advantages. I guess I've just always assumed it was like this, but now you can see the success through the variations of education.
if this is accurate then that means I managed to land my first job during the highest unemployment rate in the last 20 years? I feel good about that.
Yes. Higher education does not guarantee you a high economic status. There are plenty of economically unattractive studies.
However it is the single best insurance against unemployment. In times of die employment situations you might end up doing menial work, especially compared to your education, but you will have work, as opposed to those who did the job previously.
These are the graphics I'll save for the case my kids would want to not follow the path of their parents and grandparents into tertiary education.
Btw, in the graphics for European countries master also beats bachelor. But that might not generalize for the US,as the college / university system and also the labour market is pretty different there.
An interesting tidbit that I see in those numbers is that the rate of job creation seems highest for the jobs that require the least qualification and nearly constant for jobs with (presumed) qualification requirements. Equally, the rate of job destruction was higher for those jobs throughout the financial crisis. This doesn't bode well for future crises...
I have a Bachelor's degree and am unemployed. Intentionally, because fuck the man. (Also, love is more important than money)
Man, Bush sure did a number on the country. Good job by Obama for getting things back on track. I’m excited to see how Trump will fare (policy changes usually take 2 years for their full effects to be known)
Edit: this is a hilarious downvote party. I’m not American and don’t have a “party” but when I talk about this stuff evenly and non-partisanly I get hate from both sides.
Edit 2: Most controversial! I’m honoured.
So where in this data does it represent the revolutionary effect of Trump's administration that I keep hearing he and all my family members claim to exist? I don't see it. Thank you.
*Edit: Not sure why my comment would be downvoted - I am of course referring to Trump's claim to have reduced the unemployment rate from 42% to 4.7%
**Edit #2: If this comment is causing you cognitive dissonance, than you really don't want to analyze THIS CHART of the Dow Jones over the last 10 years.
Does associates include tradesmen or other post secondary education other than college? Or is it strictly an AS/AA from an accredited institution?
Also, in this day and age, I’d be very interested to see the Bachelor or higher teased out, as many Master and doctorates are finding unemployment a reality.
Color. This is America, after all. And while it is alphabetical I'd have the key in the order it is in the graph.
Guys. Scale is important. I thought the top line was 80% initially. Was thinking the recession was astronomically worse than I thought.
can we get this in bachelors and "graduate or higher" or does the BLS stats only have bachelors and higher combined?
I'm curious if this amazingly obvious data is a surprise to anyone? Not criticizing the data, of course - it's awesome and would be in the wall of EVERY school classroom.
Bit I'll also beet there are some (of a particular political bent...) Who are shocked and/or outraged by this common sense result.
Beautiful weather all over our great country, a perfect day for all Women to March. Get out there now to celebrate the historic milestones and unprecedented economic success and wealth creation that has taken place over the last 12 months. Lowest female unemployment in 18 years!
Revealed: the 30-year economic betrayal dragging down Generation Y’s income. Exclusive new data shows how debt, unemployment and property prices have combined to stop millennials taking their share of western wealth.
African American unemployment is the lowest ever recorded in our country. The Hispanic unemployment rate dropped a full point in the last year and is close to the lowest in recorded history. Dems did nothing for you but get your vote! #NeverForget @foxandfriends