One in five working-age American men does not have a job, according to the latest federal employment numbers, an all-time high that illustrates the extraordinary toll this recession has taken on male-dominated professions in particular.
Men are more likely to work in sectors such as manufacturing and construction which have been terribly hit by the recession.
Only 80.3 percent of men age 25-54 had jobs in December -- the lowest since the Bureau of Labor Statistics started collecting that data in 1948 -- at which point the figure was 94.4 percent. When the recession began in December 2007, less than 13 percent of men in this age bracket were out of work.
The sectors of manufacture and construction has probably been hit the hardest by the recession. With people not expanding, and the US auto industry in quite a hole themselves, you would have to think these are the industries that have had the most layoffs. Unfortunately this will probably be a continuing trend for a while longer.
ReplyDeleteIt will be interesting to see if the unemployment rate will follow what the Federal Reserve forcasted. Additionally, I think the statistics on women would be interesting. The article says that men are more likely to work in sectors such as manufacturing and construction which have been effected more by the recession. Would the unemployment rate be lower for women?
ReplyDeleteThe job market may not be showing improvements, but at least there is optimism in the economy as a whole. Economists state that we are out of the recession, and unemployment responds a lot slower. I'm sure with the past automotive crisis, it did not help with the mass numbers of men being unemployed. I would also like to see the unemployment rates for women and see if any other sectors in the economy are taking as bad as a hit.
ReplyDeleteManuacturing industries such as autombile was hurt the most during the recession. The reschedule of these industries might help to increase the number of jobs in male dominated industries such as automobile. Indeed the US economy might be out of recession but the after math of recession seem to be hard on the economy.
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