The picture shows unemployed men outside a soup kitchen in Depression-era Chicago in 1931, with the unemployment trend going strong. Today, the unemployment numbers recently released by the US Department of Labor indicate that the current unemployment trend is still strong, and that long-term unemployment is still a mayor problem. 16.2% of African Americans, and 11.9% of the Hispanics are unemployed, vs, 8% for Whites and 7% for Asians.
In my previous post titled “Long Term Unemployment Over 40% in the US”, I show in graphical format, the general trend in underemployment for males & females, since 1991 on a yearly basis. Although I could cross-relate several databases and make educated guesses, there is not an easy, direct way to get more granularity of those numbers (for example, ethnic origin, profession, age, state of residence).
Nevertheless, I was able to compile unemployment numbers since January 1991 to now, on a month by month basis, by ethnic origin. The numbers clearly show that Black & Hispanics are the most affected, while Asians are the least affected, with only 514,000 unemployed.
Long-Term Unemployment in the US
Furthermore, your educational level is also a factor. General statistics show that High School graduates and people with some college degree are the most affected. Nevertheless, as I explained in my previous blog, it is difficult to really know the distribution of educational level among people in the long term unemployment group.
The Quantitative Method is conducting an online underemployment survey, and by simple inspection of the results thus far, I can see that most of the underemployed respondents have Master’s Degree or higher. (More data is required to make valid conclusions).