Saturday, February 13, 2010

Unemployment by Class (Income)

There is some really good work being done at the Northeastern University's Center for Labor Market Studies (CLMS) on the severe inequality in the unemployment situation by income.

The authors divide the the labor market into 10 different income sections then determine impact of the recession on each group. They find that the unemployment and under employment rate for the bottom 10 percent of income earners (less than $12,160) is greater than 50%. While the very top income bracket (greater than $138,700) had an under utilization rate of about 6%. In other words, unemployment issues are falling almost completely on lower income people.

Here is the study.

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