Commentary

Commentary

Highly Educated, Unemployed and Tumbling Down the Ladder

by Jaime S. Fall
Vice President, Workforce and Talent Sustainability
HR Policy Foundation

Martha C. White, NBC News, wrote a story for CNBC titled, "Highly Educated, Unemployed and Tumbling Down the Ladder." It takes a look at some long-term unemployed people who don't fit the stereotype of people who have been out of work for a long period of time and the economic impact of the downturn and their joblessness. The author points out that one survey of 800 jobless professionals showed about 10 percent of the short-term unemployed had doctoral, law or MBA degrees with more than 18 percent of long-term unemployed having similar degrees. We can all be pleased the unemployment rate is dropping, but this article shows it's going to be a long time before some people recover from the economic impact of losing their jobs and some will never be able to recover.