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Saturday, February 11, 2012

The Facts of Employment

With graduation just around the corner, the real world awaits you. Unfortunately, having a degree doesn’t guarantee you a job. You’ll be facing an economy that’s in a recession, so the job search might seem even more daunting.

Here’s an at-a-glance look at some Department of Labor statistics to prepare you for entering the labor force. (For more about the post-graduation job search, see page 16.)

3.3 – the number in millions that payroll employment has declined by in the past five months. This is the largest five-month decline since the series began in 1939.

3.7 – the percent at which employment has fallen since the start of the recession. Of the four most recent recessions, only the 1981 recession is similar to the current downturn in terms of relative job loss.

305,000 – number of lost jobs in goods-producing industries in March 2009.

358,000 – number of lost jobs in service-providing industries in March 2009.

68.2 – the employment-population ratio for men over the age of 20 in March 2009.

56.8 – the employment-population ratio for women over the age of 20 in March 2009.

2.1 – the percent the average weekly earnings rose by from February 2008 to February 2009.

20.1 – average duration of unemployment in weeks (March 2009).

16.7 – unemployment rate of men ages 20-24.

11.0 – unemployment rate of women ages 20-24.

Top 10 industries with the largest wage and salary employment growth (2006-2016).

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