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January 2016 Unemployment Rate

Unemployment by educationThe US Department of Labor released the Unemployment Rate for January 2016 yesterday. Over the last 12 months, the number of unemployed workers was reduced by 1.1 million. The unemployment rate went down as well by 0.8%.

The jobless unemployment rate was reported for various groups of workers in the unemployment report for January 2016:

Adult men overall 4.5 %

Whites 4.3%

Adult women overall 4.5%

Teenagers 16.0 %

Blacks 8.8 %

Asians 3.7 %

Hispanics 5.9 %

The number of long term unemployed, (those unemployed beyond 27 weeks) remained unchanged at 2.1 million representing about 27% of the unemployed.

Unemployment rates for persons 25 years of age or older by educational level:

Less than High School – 7.4%

High School graduate with no college – 5.3%

High School graduate with some college – 4.2%

Bachelor’s degree or higher – 2.5%

Of course although the unemployment rate is much lower among college educated workers, a good job search plan and career search strategy, as well as knowing what employers want, is required to secure long term employment.

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