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Broad US job growth helps high school grads

Created: 07/04/2014 12:52 PM WHEC.com
By: The Associated Press

WASHINGTON (AP) — Hiring heated up for almost everyone in June.

The U.S. unemployment rate dropped to 6.1 percent from 6.3 percent in May, the Labor Department said Friday. The decline benefited men, women, high school graduates, those with college experience and different racial groups.

Job growth rose by 288,000, according to a separate government survey. The hiring over the past five months was the most vigorous such stretch since the go-go days of the dot-com era 15 years ago.

Employers last month snapped up workers with high school diplomas, causing their unemployment rate to plunge to 5.8 percent from 6.5 percent in May. Community college graduates and university drop-outs also found work. Their unemployment rate fell to 5 percent from 5.5 percent.

Unemployment did tick up for college graduates. That's likely because 175,000 members of the class of 2014 began hunting for work last month — and only 117,000 of them landed jobs.

But employers still prefer college degrees. Sherwin-Williams hired 1,400 college graduates this year for its management training programs.

"I'm pretty impressed with these young kids who are joining the company," said Chris Connor, CEO of the Cleveland-based paint and building materials company. He called the new graduates "far more globally aware."

The ranks of the long-term unemployed fell 293,000 last month to just under 3.1 million. But in a cautionary note, many people who have been jobless for more than six months stopped looking for work. The government stops counting people as unemployed once they abandon their job searches.

Unemployment rate by group:
(Numbers in percentages)June 2014May 2014June 2013
White5.35.46.6
Black10.711.513.5
Asian*5.15.35
Adult men5.75.97
Adult women5.35.76.8
Teenagers2119.223.8
20-24 years old10.511.113.3
25-54 years old5.15.56.4
55 and over4.44.65.3
Veterans of Iraq/Afghanistan*757.2
No high school diploma9.19.110.7
High school graduate5.86.57.6
Some college55.56.3
College graduate3.33.23.9
Duration of Unemployment:
Average length (weeks)33.534.535.7
Jobless 6 months of more (pct.)32.834.636.9
* Not seasonally adjusted
Source: Labor Department

(Copyright 2014 by The Associated Press. All Rights Reserved.)



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