Richard Florida
by Richard Florida
Sat Jun 6th 2009 at 12:43pm UTC


That’s the overall rate of unemployment, according to the Bureau of Labor Statistics’ newly released U-6 measure which includes “marginally attached workers” as well as those who work part-time for economic reasons. That’s quite a bit higher than the widely reported 9.4 percent figure also released today.

And, unemployment continues to fall unevenly by gender, race, class, and occupation.

Race: The unemployment rate for whites was 8.6 percent compared to 12.7 percent for Hispanics, 14.9 percent for blacks, and 16.8 percent for black men.

Gender: Men continue to experience higher rates of unemployment than women, with the gap widening to three full percentage points – 10.5 percent vs. 7.5 percent (for those over 16 years of age) – due to the concentration of men in manufacturing jobs.

Human Capital/Education: Unemployment is even more uneven by education or human capital level. The unemployment rate for college graduates is 4.8 percent, half that for high school (only) graduates (10 percent), and one-third of the 15.5 percent rate facing those without a high school diploma.

Class: And there remain huge differences in unemployment by occupation. The highest rates of unemployment remain concentrated in working class occupations. For production, transportation, and moving occupations overall, the rate is 13.7 percent, up from 6.3 percent last year. For production workers it’s 15.6 percent; movers and transportation workers, 11.8 percent; and construction and extraction jobs, 19.7 percent. For service occupations, the unemployment rate is nearly 10 (9.4) percent.

Unemployment is significantly lower for the creative class. For management and business occupations – including hard-fit financial jobs – overall the unemployment rate is 4.6 percent, up from 2.7 percent last year; and for professional and technical occupations it is 4.2 percent, up from 2.5 percent a year ago.

2 Responses to “16.4%”

  1. ECONOMY MELTDOWN: summary and updates: U3 unemployment hits 9.4%, U6 hits 16.4%; 6,000 new bankruptcy filings/day « Left Blog Says:

    [...] UPDATES. What can be done if the same banks that caused this crisis continue to control Congress? here. abcNews thinks the recession is over, here, but S&P thinks the bank crisis may last until 2013, here. FDIC: ‘problem banks’ up 21% in Q1, here.  6,000 new bankruptcy filings/day from job losses, medical bills, here. Unemployment hits 9.4% here if you use the government’s measure U3; if you use U6 (includes part-time workers), it’s 16.4% here. [...]

  2. Left Blog Says: