The national unemployment rate fell from 7.9 per cent to 7.7 per cent this week, after a strong Non-Farm Payrolls report.
But the unemployment rate differs greatly for people with different levels of education.
From Bill McBride at Calculated Risk, here’s the latest look at the differing levels of unemployment by level of educational attainment.
For those with a bachelor’s degree (blue line), the unemployment rate is below 4 per cent.
For those with no college (purple line), the unemployment rate is around 8 per cent.
Photo: Calculated Risk
The question of whether college is “worth it” continues to be hot. Those who believe it is worth it will find this data helpful, although some will say that college enrollment self-selects for the more talented, and thus the relationship between low unemployment and having a bachelor’s degree is more correlated, rather than causal.
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