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Posted by: Michael Mandel on September 02
The unemployment rate for college graduates fell to 2.1% in August, the lowest since 2001, and about the same level which prevailed at the beginning of the last recession in March 2001 (this number includes advanced degrees as well).
But another measure, the employment-population ratio, indicates no significant recovery. Its current level, 76.5% for college graduates, is still well below the 77.7% level of March 2001, and the 78.7% average for 1992-2000.
This graph (based on three month moving averages) shows no sign of a rebound in the college labor market.
Depending on how you calculate it, we are missing about 2-3% of the college-trained population from the pool of employed workers. That’s a heck of a lot.
Michael Mandel, BW's award-winning chief economist, provides his unique perspective on the hot economic issues of the day. From globalization to the future of work to the ups and downs of the financial markets, Mandel-named 2006 economic journalist of the year by the World Leadership Forum-offers cutting edge analysis and commentary.