I ran into this New York Times article that covers the nitty-gritty of unemployment statistics. It’s dated November so it gives us the numbers when the economy was at its worse (or close to it). It cuts up of the population by age, education level, race and gender. What caught my eye was how unemployment hit some groups hard and left others relatively unscathed. Is there no fairness in life? Actually, no.
Now I’m not a statistically genius, but I do know if you are unemployed it means you are 100% out of work and 100% in need of a job, but these numbers reveal something interesting. Let me dispel some of myths that run around in your brain causing you to freak out. You have to be at your best and negativity can be your worst enemy.
Fact Number 1. High school grads face a 9.1% jobless rate – college grads 4.5%. That’s a huge difference. Having that degree makes things twice a good.
Have you heard all the age discrimination talk? Well think again. Jobless rates for the over 45 high school grad is 6.8%. For the 25 to 44 high school grad it’s 9.3%. That’s almost 3 points. Age gives you a considerable edge. A look at college educated old farts (I’m in this group so don’t take offense) will show a 4.3% jobless rate. Looky here? That compares to 4.3% for the 25 to 44 crowd. It seems unemployment rates for this crowd has less to do with age and more to do with education.
So the grey hairs give you an advantage.
Let’s look at women versus men. High school graduated men face an overall 10.3% unemployment rate versus women 7.8% for the ladies. That’s a significant difference. We women finally come out ahead – yeah!!!
What’s my point? Well from what I’ve seen, it’s VERY, VERY easy to get down on yourself when you’re out of work. It can be a pain to get out of bed in the morning. Life can become a drag as you wonder what you’ll for the day, then do it again and again and again. And I understand. Watching your savings dwindle and not being able to pay your bills can be a real downer.
But what can we learn from this? When the government sees the overall unemployment dip into the low single digits, they call it full employment. When one group has a several point statistical advantage over other group (and we didn’t get into the numbers with minorities), that’s something to be thankful for. Staying positive is so critical during a job search. It keeps us creative. It helps us attack the job market better. It helps us sleep better at night.
If you find yourself getting down (and I’m talking a little bit more than just a bad day), reach out to a friend, get out to the gym, get a coach, go and talk to a professional, do something. But I’m hoping that if you’re one of those older 45 college educated execs who make up the majority of my customers, the numbers are with you. If you are a woman breadwinner, you have an edge as well. Focus on that positive and give it your best shot. You’ll do just fine.
