A Closer Look At Employment, Pt II; Educational Achievement and Unemployment
The above chart to me is still the most important chart of the unemployment series. It tells us that the higher the educational achievement, the lower the unemployment rate. In addition, it also tells us that in the current US economy, the specialization that comes with higher education is valued and important and frankly, a requirement.
Consider this in contrast with yesterday's post on goods producing jobs -- which are typically associated with lower educational attainment. In this recession, the less educated have taken a tremendous hit.