Unemployment by Income

irvinehomeowner

irvinehomeowner

Well-known member
This may be old news but I was watching the Today Show this morning and a guest mentioned some statistics on unemployment by income:

$150k or more: 3%
Middle income: 9%
Lowest 10%: 30%

So I google-fu'ed and found that this came from a Northeastern University study (PDF):
http://www.clms.neu.edu/publication/documents/Labor_Underutilization_Problems_of_U.pdf

If you look at it even more, the top 10% of income earners only have an unemployment rate of 1.6%. Now of course there are variances with any of these numbers but it does generally show that the people most affected by job loss are the ones who have lower incomes.

Now if you tie that in with real estate... match that to premium areas that haven't seen significant losses (like Irvine) and their incomes... is there some corollary?

Anyways... just thinking out loud... but I've read some blog sites that analyze the same study and I find one comment interesting, if these unemployment percentages were flipped... do you think the government would be doing more or less about the jobless situation?
 
Well, the CEOs won't fire themselves so they fire the people below them, and so on, and so on and so on to the lowest level.  Sad, but reality. 
 
I've read similar studies that show that the people who are more educated (graduate degrees and doctorate degrees) have a much lower unemployment rate than people with less education.  The highest level of unemployment were for those people who did not complete high school or just had a high school diploma or GED.  So what you posted up makes a lot of sense.
 
So the old "go to school, study hard and get a degree" thing does help?

Funny anecdote but I know a few guys who were in the mortgage business, no college degree but they were pulling down some hard cash and spending it... now that there is no more mortgage bubble... they can't find a job that will support their former lifestyle. So it does hit the the high income ballers... the temporary ones.
 
irvinehomeowner said:
So the old "go to school, study hard and get a degree" thing does help?

Funny anecdote but I know a few guys who were in the mortgage business, no college degree but they were pulling down some hard cash and spending it... now that there is no more mortgage bubble... they can't find a job that will support their former lifestyle. So it does hit the the high income ballers... the temporary ones.
Click to expand...
Easy come, easy go.  There's always a price to be paid for making the quick buck...slow and steady always seems to win the race.
 
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