The unemployment rate among high school graduates who have not attended college is 10.2%. Among those with a college bachelor's degree, the unemployment rate is 4.6%.
This Sunday at 8pm ET, Fareed Zakaria will explore this issue in a special edition of CNN GPS called "Restoring the American Dream: Getting Back to Work."
9.1% – 14 million Americans – is the unemployment rate most often cited in reports. But the U.S. Department of Labor has alternative measures for the workforce as well. One measure, known as U-6, adds 1) the total number of unemployed, 2) those marginally attached to the labor force and 3) those working part time because they cannot get full-time work. This group without full-time work makes up 16.2 percent of the labor force, or over 25 million Americans.
The number of nonfarm payroll jobs has increased by 877,000 from January through August this year, according to data from the Department of Labor.
To absorb new entrants to the job market and to keep the unemployment rate from increasing, the U.S. economy needs to add 125,000 new jobs per month - or 1 million jobs over the same period that 877,000 were created.
According to the most recent data from the Labor department, there are 14 million unemployed people and 3.2 million job openings in the U.S. As Scott Winship at Brookings writes,
“From 1951 through 2007, there were never more than three unemployed workers for each job opening, and it was rare for that figure even to hit two-to-one. In contrast, there have been more than three jobseekers per opening in every single month since September 2008. The ratio peaked somewhere between five-to-one and seven-to-one in mid-2009.”
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Check out all of Fareed's Washington Post columns here:
Obama as a foreign policy president?
Why Snowden should stand trial in U.S.
Hillary Clinton's truly hard choice
China's trapped transition
Obama should rethink Syria strategy
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