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The Ghost of Employment Past- Oct 2018 Newsletter

 
 
 
  • OCTOBER 2018


THE GHOST OF EMPLOYMENT PAST
 


 
 Three quarters of the year have already come and gone. As we look back, there are some extremely notable moments from last quarter, and this year, when it comes to U.S unemployment. We dove into the numbers to get a good look at what has happened this year so far and how it compares to last year's numbers.  
  

2018 Q3 Highlights:
Unemployment in the third quarter of 2018 averaged 3.8%. This average is .5 percentage points lower than last year's Q3 average of 4.3%.
The unemployment rate fell in September to 3.7%- a new low for not only the year, but low enough to resurrect the lowest jobless percentage on record since 1969! 
White collar (no not the vampires) unemployment has remained steady for three months/ all of Q3. 

Unemployment by Educational Attainment:
Unemployment for Q3 averaged 5.4% for those with less than a high school diploma. Compared to last year's 6.6%, this was a whole 1.2% lower. For high school graduates, the unemployment rate averaged 3.9%, which is .7 percentage points lower than last year's 4.6%. For those with some college or associate's degree, the unemployment rate averaged 3.3% for the quarter vs. last year's 3.7%, and those with a bachelor's degree or higher averaged a 2.1% unemployment rate for the quarter vs last year's 2.3%.

2018 YTD Highlights:
So far, the year has averaged a 3.9% unemployment rate. Like Q3's year over year average, this average is also .5 percentage points lower than last year's Q3 average of 4.4%. With few months left in the life of 2018, this average so far is lower than any year-end average dating back to 1969, which held a year-end average of 3.5%.

Unemployment by Educational Attainment:
Unemployment for 2018 so far has averaged 5.5% for those with less than a high school diploma. This average is 1.2% lower than 2017's 6.7% average from January-September. For high school graduates, the unemployment rate averaged 4.1%, which is .6 percentage points lower than last year's 4.7% at this time. For those with some college or associate's degree, the unemployment rate averaged 3.4% vs. last year's 3.8%, and those with a bachelor's degree or higher averaged a 2.1% unemployment rate vs last year's 3.1%.
    

 

 

 

 

 

 

 

 

 

Wrapped Up:   

Companies are haunted by these low unemployment rates and are shaken to find that hiring the right talent isn't easy. Employers really need to face their fears when it comes to recruiting and retaining their talent! 

Let's see what the short life of 2018 has left for us. Will we be sucking the life out of the labor market? Will the ghost of 1969 be laid to rest? Will the yearly average for 2018 ressurect a new ghost? Time will only tell. 

    

 

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