If you missed the latest jobs report, well, you didn’t miss much. The unemployment rate remained unchanged at 8.2% (and the broader unemployment measure, the U-6, increased to 14.9%). Private payrolls continue to increase (+84,000), and the government continues to shrink its workforce (-4,000) — especially at the federal level.
An always-interesting element of the jobs report is the unemployment rate by education level for adults (aged 25 and over). As we show in the chart below, every group tracked by the BLS is better off now than in June 2011 — and all are in significantly better position than they were in June 2009.
These are year-over-year numbers (not seasonally adjusted) for every June dating back to 2002.
It’s worth noting that that jobless rate for those with at least a bachelor’s degree is 4.1%, less than one percentage higher than in 2003. Nothing new here, but the recession and so-called jobless recovery have impacted those with less education far more than educated workers.
To illustrate this trend, the following table lists the 20 occupations that have lost the most total jobs since 2008 in the US. In all, these occupations have shed more than 2.3 million jobs since ’08. And only one, general and operations managers, requires on average a postsecondary degree. The rest are mostly low-skilled occupations — or, as in the case of electricians and plumbers, occupations that demand significant work experience/on-the-job training.
| SOC Code | Description | 2008 Jobs | 2012 Jobs | Change | % Change | 2011 Median Hourly Wage | Education Level |
|---|---|---|---|---|---|---|---|
| Source: EMSI Covered Employment 2012.1 | |||||||
| 53-7062 | Laborers and Freight, Stock, and Material Movers, Hand | 2,275,975 | 2,044,006 | -231,969 | -10% | $11.13 | Short-term on-the-job training |
| 47-2031 | Carpenters | 832,549 | 618,852 | -213,697 | -26% | $19.93 | Long-term on-the-job training |
| 41-2031 | Retail Salespersons | 4,316,827 | 4,156,980 | -159,847 | -4% | $9.81 | Short-term on-the-job training |
| 51-2092 | Team Assemblers | 1,083,197 | 928,792 | -154,405 | -14% | $12.91 | Moderate-term on-the-job training |
| 11-1021 | General and Operations Managers | 1,754,076 | 1,605,421 | -148,655 | -8% | $45.29 | Bachelor's or higher degree, plus work experience |
| 47-2061 | Construction Laborers | 924,326 | 778,414 | -145,912 | -16% | $15.10 | Moderate-term on-the-job training |
| 47-2111 | Electricians | 625,192 | 504,351 | -120,841 | -19% | $23.67 | Long-term on-the-job training |
| 41-4012 | Sales Representatives, Wholesale and Manufacturing, Except Technical and Scientific Products | 1,475,926 | 1,360,639 | -115,287 | -8% | $24.69 | Work experience in a related occupation |
| 43-6014 | Secretaries, Except Legal, Medical, and Executive | 1,915,826 | 1,806,763 | -109,063 | -6% | $14.58 | Moderate-term on-the-job training |
| 47-1011 | First-Line Supervisors/Managers of Construction Trades and Extraction Workers | 570,440 | 469,985 | -100,455 | -18% | $28.37 | Work experience in a related occupation |
| 53-3032 | Truck Drivers, Heavy and Tractor-Trailer | 1,624,465 | 1,524,796 | -99,669 | -6% | $18.08 | Short-term on-the-job training |
| 43-9061 | Office Clerks, General | 3,023,436 | 2,930,064 | -93,372 | -3% | $12.62 | Short-term on-the-job training |
| 41-2011 | Cashiers | 3,476,681 | 3,388,786 | -87,895 | -3% | $8.47 | Short-term on-the-job training |
| 43-5071 | Shipping, Receiving, and Traffic Clerks | 754,977 | 667,936 | -87,041 | -12% | $13.59 | Short-term on-the-job training |
| 51-1011 | First-Line Supervisors/Managers of Production and Operating Workers | 640,310 | 554,895 | -85,415 | -13% | $25.14 | Work experience in a related occupation |
| 43-3031 | Bookkeeping, Accounting, and Auditing Clerks | 1,835,015 | 1,751,376 | -83,639 | -5% | $16.21 | Moderate-term on-the-job training |
| 37-2011 | Janitors and Cleaners, Except Maids and Housekeeping Cleaners | 2,173,971 | 2,094,569 | -79,402 | -4% | $10.70 | Short-term on-the-job training |
| 53-3033 | Truck Drivers, Light or Delivery Services | 876,138 | 803,993 | -72,145 | -8% | $13.65 | Short-term on-the-job training |
| 53-7064 | Packers and Packagers, Hand | 752,815 | 681,911 | -70,904 | -9% | $9.41 | Short-term on-the-job training |
| 47-2152 | Plumbers, Pipefitters, and Steamfitters | 427,983 | 359,132 | -68,851 | -16% | $23.38 | Long-term on-the-job training |
Find out more about EMSI here and reach us via Twitter @DesktopEcon. Specific questions can be directed to Josh Wright (jwright@economicmodeling.com).
As it seems always….a good article.
Another good point to get an education !
Thank you.