Unemployment increases to 9.9% for April, 290k jobs added
May 7, 2010 · Posted in Commentary
The Bureau of Labor Statistics reported today that the unemployment rate jumped to 9.9% in April despite 290,000 jobs being added. This was the biggest increase in employment in 4 years. The fact that the unemployment rate increased despite the large increase in employment indicates that more people continue to enter the workforce.
Let’s breakdown the numbers:
- The unemployment rate for high school drop outs was 14.7%, up from 14.5% last month.
- 4.9% of college graduates were unemployed, unchanged from the previous month.
- The jobless rate for high school graduates was 10.6%, down from 10.8%.
- 10.1% of men 20 and over were unemployed, a slight increase.
- Women 20 and over had an unemployment rate of 8.2%, up from 8.0%.
- 25.4% of 16 to 19 year olds were unemployed, down from 26.1% last month.
- Jobless rate among whites remained at 9.0%, up from 8.8%.
- 16.5% of blacks were jobless, unchanged from the prior month
College graduates continue to enjoy the lowest unemployment rate of the listed groups. As more people continue to enter the workforce, education will help determine their success at finding employment.
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