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Covid and Unemployment in US – Education still matters

The first graph shows the unemployment rate by four levels of education (all groups are 25 years and older) through March 2021. Note: This is an update to a post from a few years ago.

Unfortunately this data only goes back to 1992 and includes only three recessions (the stock / tech bust in 2001, and the housing bust/financial crisis, and the 2020 pandemic). Clearly education matters with regards to the unemployment rate, with the lowest rate for college graduates at 3.7% in March, and highest for those without a high school degree at 8.2% in March.

All four groups were generally trending down prior to the pandemic. And all are trending down now.

Note: This says nothing about the quality of jobs – as an example, a college graduate working at minimum wage would be considered “employed”.

Chosen excerpts by Job Market Monitor. Read the whole story @ Calculated Risk: Trends in Educational Attainment in the U.S. Labor Force

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