Unemployment falls below 10% in January

February 5, 2010 · Posted in Commentary 

The Bureau of Labor Statistics reported today that the unemployment rate fell to 9.7% in January with 20,000 jobs being lost.  This would suggest that many people have given up looking for jobs and have left the workforce, or have gone back to school.

Let’s breakdown the numbers:

  • The unemployment rate for high school drop outs was 15.2%.
  • 4.9% of college graduates were unemployed.
  • The jobless rate for high school graduates was 10.1%.
  • 10.0% of men 20 and over were unemployed.
  • Women 20 and over had an unemployment rate of 8.5%. up from 8.2% in December.
  • 26.9% of 16 to 19 year olds were unemployed, down from 27.1% in December.
  • Jobless rate amongst whites was 8.7%, down from 9.0% in December.
  • 16.5% of blacks were jobless, up from 16.2% in December.

The unemployment rate of college graduates decreased from December.  College graduates continue to enjoy the lowest unemployment rate of the listed groups.

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