Unemployment unexpectedly falls to 10% in November

December 4, 2009 · Posted in Commentary

The Bureau of Labor Statistics reported today that the unemployment rate fell to 10.0% in November, the biggest decline in three years. Only 11,000 jobs were lost last month, surprising many economists.

Let’s breakdown the numbers:

The unemployment rate for high school drop outs was 15.0%.
4.9% of college graduates were unemployed.
The jobless rate for high school graduates was 10.4%.
10.5% of men 20 and over were unemployed.
Women 20 and over had an unemployment rate of 7.9%.
26.7% of 16 to 19 years were unemployed.
Jobless rate amongst whites was 9.3%.
15.6% of blacks were jobless.

Of all the groups listed above, only the unemployment rate of college graduates increased from October, up from 4.7%. However, college graduates still enjoyed the lowest unemployment rate of the listed groups.

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