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Changing Face of Unemployment The American public somewhat used to the image of the unemployed steelworker or the auto plant faced with imminent closure. The crash of 1987 created a brief spate of redundant stockbrokers. Of late, the downsized internet employee is almost a given. But did anyone ever expect a downturn and job losses in the American customer service and technology sectors? Moreover, did anyone anticipate these well-paying jobs to move to foreign destinations? What does this do to the shape of the "new new economy?"
Unlike the large losses in manufacturing during the 1970s, job losses did not affect just one sector during the recent economic downturn. Instead, all sectors of the economy (blue- and white-collar workers alike) are feeling the pain. In fact, the jobless rate among college graduates was at its highest in a decade in August 2003. The unemployment level of college graduates has recently surpassed that of high-school dropouts. But March's "job creation" figures were sharply higher. Although the sector made no gains — March marked the first month since August of 2000 that manufacturing jobs didn't decline. However, the share of the long-term unemployed — those who have been jobless for at least half a year — reached 23.9% in March, the highest level since July 1983, when the unemployment rate was 9.3%.
What's the future for American jobs? That's become a hot-button question for the presidential candidates. Read more about the ongoing debate over jobs moving offshore, and over what types of jobs might take their place.
Now every state has a Web site dedicated to aiding its workers. You can find information on unemployment compensation, job listings, and advice for your locale on our Employment Resource Map.
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Face of Unemployment |
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| Annual unemployment rate, construction industry, 2000/2002: |
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6.8%/10.9% |
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| Annual unemployment rate, manufacturing, 2000/2002: |
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3.3%/6.6% |
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| Annual unemployment rate, financial activities industry, 2000/2002: |
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2.3%/3.6% |
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| Annual unemployment rate, professional and business services, 2000/2002: |
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4.8%/7.9% |
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| Unemployment rates for people without a highschool diploma, 1993/2003: |
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10.8%/8.2% |
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| Unemployment rates for high school graduates, no college, 1993/2003: |
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6.3%/5.4% |
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| Unemployment rates for some college or associate degree, 1993/2003: |
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5.2%/5.2% |
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| Unemployment rates for bachelor's degree and higher, 1993/2003: |
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2.9%/3.4% |
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| Source: U.S. Bureau of Labor Statistics
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