A couple of interesting factoids on unemployment in this recession.
First, unemployment is hitting the tangible sector the worst:
But in the midst of the gloom, it’s essential to point out that the damage is still concentrated in the ‘tangible sector’—that is, those industries which either produce,move, or distribute physical goods. In January the percentage of job losses coming from the tangible sector fall somewhere in the range of 75%-85%. (The exact number depends on how many of the temporary help layoffs are in manufacturing, construction, and retail—there’s no way to tell).Second, the hits in the tangible sector mean that more women then men will have jobs:
Meanwhile, the jobs losses in the intangible sector are much more moderate. Education and healthcare are still growing, and other intangible-producing industries have relatively small losses.
With the recession on the brink of becoming the longest in the postwar era, a milestone may be at hand: Women are poised to surpass men on the nation’s payrolls, taking the majority for the first time in American history.Third, unemployment is now moving up the age and educational ladders (see previous post on education and unemployment):
The proportion of women who are working has changed very little since the recession started. But a full 82 percent of the job losses have befallen men, who are heavily represented in distressed industries like manufacturing and construction. Women tend to be employed in areas like education and health care, which are less sensitive to economic ups and downs, and in jobs that allow more time for child care and other domestic work.
As of November, women held 49.1 percent of the nation’s jobs, according to nonfarm payroll data collected by the Bureau of Labor Statistics. By another measure, including farm workers and the self-employed, women constituted 47.1 percent of the work force.
Women may be safer in their jobs, but tend to find it harder to support a family. For one thing, they work fewer overall hours than men. Women are much more likely to be in part-time jobs without health insurance or unemployment insurance. Even in full-time jobs, women earn 80 cents for each dollar of their male counterparts’ income, according to the government data.
The total number of unemployed increased by more than 50 percent from January 2008 through last month, but the number of jobless Americans 55 or older jumped by 70 percent, according to new Labor Department numbers released Friday.
For people with college degrees, the number rose even more sharply, by nearly 85 percent.
Finally, this interactive map allows you to easily see which parts of the nation are getting hurt the worst.