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Tuesday, February 07, 2012

Unequal Recovery

Lower skilled workers haven't benefited much from the recovery:

Unemployment drop still leaves low skill workers behind, by Michael A. Fletcher, Washington Post: The nation’s jobless rate has declined to its lowest level in three years, a fact that has left Jamie Bean, an unemployed air-conditioner repairman, feeling more left out than ever.
Bean, 36, lost his job in December. ... Bean’s predicament is not unlike that of many workers who have a high school education or less. Not only were they hit especially hard by the recession, they also have continued losing ground in the recovery that has followed.
By disproportionate numbers, these Americans have given up looking for work, making the nation’s recovery appear better than it is. ... 
The number of Americans facing this predicament isn’t small. Nearly a third of the nation’s labor market has only a high school diploma. ... The news is worse for high school dropouts. ...
The recovery, economists say, has highlighted the consequences of not earning a college degree. ... The improvements that have occurred since the start of the recovery have accrued mostly to better-educated workers, analysts say. The economic challenge that lies ahead is finding a new place for workers such as Bean, who lack advanced academic credentials. Many of them rely on community colleges for their training, but those budgets have been cut in recent years. ...

It's easy to imagine Congress forgetting about this group (even more than it already has).

    Posted by on Tuesday, February 7, 2012 at 12:14 AM in Economics, Unemployment | Permalink  Comments (33)


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