Thursday, October 31, 2013

Employment Stuck, Better For College Grads, by Shelby Jacobson

Unemployment is still a major concern even, while decreased from 10% to 7% since 2007.

On average, says Professor of Economics Mike Haupert, people can live without a paycheck for one month before running into any serious problems. Even though the unemployment rate decreased 3%, the rate has been stuck.

According to, the 2013 unemployment rate in Wisconsin has decreased from 7.9% in January to 7.3% in August.

College graduates have less to worry about after graduating. Graduates on average go without a job for two to four weeks. The unemployment rate for college students is 4%, even less for those with their masters. Those with their M.D. or PhD have an even smaller unemployment rate.

Haupert says the 2007 recession compared to the economic meltdown of the 1930s Great Depression is not an accurate parallel. Still, he says, the people now without jobs are hit hard.

Haupert says there is a permanent 4% unemployment rate in the United States with any increase depending on the economy. This 4% consists of people between jobs, quitting their jobs, and graduating from school.

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