Amazing Numbers About Today’s Job Market

Morgan House indentifies 50 Amazing Numbers About Today’s Economy on fool.com.

Here is a sample of some of those related to the Job Market, in no particular order.

49. According to economist Tyler Cowen, “Thirty years ago, college graduates made 40 percent more than high school graduates, but now the gap is about 83 percent.”

48. Of all non-farm jobs created since June 2009, 88% have gone to men. “The share of men saying the economy was improving jumped to 41 percent in March, compared with 26 percent of women,” reports Bloomberg.

46. In 2010, nearly half of Americans lived in a household that received direct government benefits. That’s up from 37.7% in 1998.

44. In November 2009, the nationwide unemployment was around 10%. But dig into demographics, and the rates are incredibly skewed. The unemployment rate for young, uneducated African-American males was 48.5%. For Caucasian females over age 45 with a college degree, it was 3.7%.

43. About the same number of people was awarded bachelor’s degrees in 2010 as filed for personal bankruptcy (1.6 million).

38. The Census Bureau now classifies nearly 1 in 6 Americans as living in poverty.

34. With a drop in jobs came a surge in grad-school aspirations. The number of people taking the LSAT (law school entrance) exam surged 20% from 2008 to 2009.

31. A full 17 years after college graduation, Yale economist Lisa Kahn found those who began their careers in tough economic times earned less than those who started their careers when the economy was strong.

30. Americans age 60 and older owe $36 billion in student loans.

20. The average salary for a Silicon Valley tech worker surpassed $100,000 in 2011.

19. In 2009 and 2010, 93% of the nation’s income growth went to 1% of wage earners, according to economist Emmanuel Saez; 15,600 households captured 37% of all national growth.

16. Good news: 400,000 manufacturing jobs have been added since 2009. Bad news: Manufacturing employment is still down almost 6 million since 2000.

15. Total government employment has shrunk by almost 700,000 since 2009.

10. According to the McKinsey Global Institute, 30% of companies in 2011 had job openings for six months or longer, but couldn’t find the right person to hire.

6. A 2008 Swedish study found that unemployed people gradually lose the ability to read.

5. Mike Konczal, a fellow at the Roosevelt Institute, ran the numbers and found that as unemployment goes up, the divorce rate goes down.

2. As the economy tanked in 2009, the top 25 hedge fund managers collectively earned $25.3 billion. On average, that works out to about $2,000 a minute for each manager.

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