Obamanomics: Unemployment Drops to 4.3 for College Grads, Spikes to 15.0 for HS Dropouts
(CNSNews.com) - President Barack Obama often tries to present himself as the champion of the less privileged in American society, but in recent months—in the third year of his presidency--unemployment has been going from high to higher among the least educated Americans while it has been trending down for college graduates.
The employment report released today by the Bureau of Labor Statistics (BLS) indicated that the unemployment rate for Americans 25 years and older who have less than a high school diploma spiked from 14.3 percent in June to 15.0 percent in July.
For Americans 25 years and older who have a college degree or better, the unemployment rate dropped from 4.4 percent in June to 4.3 percent in July. That followed a drop from 4.5 percent in May.
The plain fact: Unemployment is going down for college graduates and up for high school dropouts.
When measured from the beginning of the Obama presidency, according to historical data published by the BLS, unemployment has increased among both high school dropouts and college graduates, but it has increased far more among the former than among the latter.
In January 2009, the month Obama was inaugurated, unemployment was 3.9 percent among college graduates compared to 4.3 percent this July. In January 2009, unemployment was 12.3 percent among high school dropouts compared to 15.0 percent this July.
During Obama’s presidency, the unemployment rates have also risen for Americans 25 years and older who ended their education with a high school diploma and among those who attended some college but did not earn a bachelor’s degree.
Among high school graduates 25 years or older, unemployment rose from 8.1 percent in January 2009 to 9.3 percent this July. Among those who attended some college and are 25 years or older, unemployment rose from 6.5 percent in January 2009 to 8.3 percent this July.
In July 2003, in the third year of President George W. Bush’s first term, the unemployment rate was 8.8 percent among high school dropouts (compared to 15.0 percent today), 5.4 percent among high school graduates (compared to 9.3 percent today), 5.0 percent among those with some college (compared to 8.3 percent today), and 3.1 percent among college graduates compared to 4.3 percent today.