Much has changed since the jobless rate hit 10.1 per cent in September 1982, including the composition of the nations work force. The rate stayed above 10 percent through June 1983.
American workers are now older, more educated, and more Latino. The workers in health care and education has doubled since 1982. Manufacturing employment has shrunk by more than half.
Lawyers and people who work in restaurants, hotels, and other parts of the hospitality and leisure industry make up a larger part of the work force.
Size of work force in September 1982: 110.7 million
Size of work force in October 2009: 154 million
15.5 percent unemployment rate for those without a high school diploma
11.2 per cent for those with a high school diploma
4.7 percent for those with a college degree
Joblessness is lasting longer too. 16.6 weeks average length of unemployment in 1982. 26.9 weeks average length of unemployment in 2009- a record.
Quite interesting figures to review. Where are we headed now?
LORI BOWERS
http://www.desertareahousingmarket.com
The Lori Bowers Group
A boutique Real Estate Office, with a full service team to serve all your Real Estate Needs
La Quinta, Palm Desert, Indio, Rancho Mirage, Coachella , Indian Wells and the surrounding Palm Springs Area.
78065 Main St., Suite 107
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La Quinta, CA 92253
Phone: (760)777-8788 • Fax: (760)771-5355
