Only Employment Gains In The Past Year: Those With A High School Diploma Or Lower

Friday, August 4, 2017
By Paul Martin

by Tyler Durden
Aug 4, 2017

In its latest, July, snapshot of the US economy, the NY Fed observed something startling, and which hasn’t received much discussion in the media: when looking at the June report, over the past year the only employment gains have gone to less educated Americans, or as the NY Fed puts it, “over the last year, the employment-to-population ratio has risen for the less educated.” It added that “for those with less than a high school degree and for high school graduates, the employment-to-population ratio rose by 0.4 percentage point and 0.9 percentage point, respectively.

Meanwhile, “the employment-to-population ratio for the more highly educated has been on a downward trend, with the ratio for those with a college degree 0.2% percentage point lower in June relative to a year ago.”

Now that we have the July data we can update the NY Fed data, and find… more of the same: as the chart below shows, while on both a 1-month and 1-year basis, the Employment-to-Population ratio for workers with “some college” or “a bachelor’s degree and higher” declined or remained flat again, the biggest increase on both a 1-month and 1-year basis was for those with “less than a high school diploma” or “high school” graduates.

The Rest…HERE

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