Regardless of your race, education or age, the recession and current “jobless recovery” is impacting how you and those around you live. That said, some groups are definitely being hit harder than others.
The NYT Economix blog has a great interactive graph showing the impact of the recession on different demographics. You might not surprised to see that unemployment rates for black men without a high school diploma are depressingly high (30.9%), but you might be surprised that their hispanic peers have an unemployment rate of half that (14.6%). More surprising: white males without high diplomas have 4% higher unemployment than hispanic males (18.4%).
Here is the overall breakdown of unemployment rates by education level.
As you can see, the unemployment rates for Black and White men without high school diplomas beat the national average while Hispanic men come in just below the peak.
The question is, “Why?” Thats not a rhetorical question either. I’d really like to hear your opinion. Leave your ideas and any other insights you get from the data in the comments.
Diversity MBA Magazine will be looking at this and other demographic disparities over the next few week. Let us know if you have any particular questions by leaving them in the comments.