In the current economic upheaval, those individuals with more education are unemployed at lower rates than all other groups. Or by wages, assuming that wage is an indicator of educational attainment, those with $60,000+ in wages have lower rates of unemployment than those earning less than $60,000. However, if the recession during The Great Financial Crisis of 2009 is an…
Increasing emergency unemployment claims seems to indicate more people have lost their jobs, yet decreasing continuing jobless claims could mean those unemployed are now employed or failed to get a job, thus are or at risk of being permanently unemployed (or those no longer looking for work.) Translation: we either have at best a bifurcated job market or at worst,…
For the first time in four weeks, less than 800,000 people filed new unemployment claims (those who have lost their jobs and now seek financial relief from either state or federal government) during the week ending October 17, 2020. Yet, the pre-COVID job market is slow to recover post the March 2020 financial tantrum, as the reduction can mean a…
The American middle class is shrinking, as educational achievement plateaus at the average level of attainment and more middle class families compensate the lagging educational achievement with discretionary spending on extracurricular activities and supplemental academic support services. By the late 1970’s, the collapse of American manufacturing sector made way for the meteoric rise of the knowledge-based service and technology sectors,…
Many are doing more with less, while living through the global, systemic retreat from “life as we knew it”, induced by a virus we cannot see. For some, though, doing the “same with less” is now their life’s maxim, having accepted substantial pay cuts to remain employed during the current economic upheaval. As Megan Casella of Politco writes: Now, with…
We’re officially in a recession, meaning GDP, or the total value of goods produced and services provided in the US during a single year has declined for two consecutive quarters. The world economy is expected to contract by 5.2% this year—the worst recession in 80 years—but the sheer number of countries suffering economic losses means the scale of the downturn…
As the Class of 2020 commences, into what economic state do they commence? As reported by Courtney Weaver in the Financial Times on May 28, 2020: With US unemployment at its highest level since the second world war and the country still grappling with the economic fallout of coronavirus, university graduates are watching start dates be deferred, internships cancelled and…
Recovery from the recent massive job losses around the globe will likely not be swift nor immediate. In the United States, 14.34 million more people are unemployed than the total jobs created over the last decade since The Great Financial Crisis of 2009. In other words, in eight weeks, all the jobs created during the last decade, plus 14 million…
Awoken at 6:46 am on the Saturday after the 4th of July, through groggy consciousness, I registered the staccato sounds of a teenage texter. I recalled that The College Board released the 2019 AP (Advanced Placement) Exam scores (at least in California) on that fine morning. His texts were the first of many I received throughout the rest of the…
As state revenues shrink, the subsidies to public K-12 schools and higher education systems will shrink proportionately, effectively increasing the (or likelihood of) fiscal deficits for educational institutions. In a recent Bloomberg News article discussing the economic state of affairs in California, the fifth largest state economy in the United States: California Governor Gavin Newsom said the economic slowdown caused…
The above chart depicts that the wealthiest and upper middle class have not only regained their wealth previous to the 2008 recession, but gained greater wealth, at the expense of the middle class and poorest classes. And, now, middle class and poorer families are facing an even greater economic downturn that has yet to be even defined in scope, though…
Presented for those of you wondering why new college grads are having a difficult time finding employment: The employment rate has been improving lately, but not nearly as much as the unemployment rate http://t.co/X52OksfI0v pic.twitter.com/Pjx8mS9AMV — Real Time Economics (@WSJecon) February 7, 2014
From Our Clients: SAT and ACT Prep: Each day, I talk with at least one parent concerned that their kid is not doing enough preparation for the SAT or ACT, who asks for advice how to motivate their kid to practice SAT and ACT questions. For most teens, the intention to prepare for the SAT and ACT is high. And,…
As the chart shows, 18% of college graduates are currently living with their parents. In addition, unemployed college graduates are more likely to live at home (45% vs. 29%),
