Employment Report story

It turns out that everyone who ever told you to “get an education,” was onto something.

Individuals 25 and older with a bachelor’s degree or higher were far more likely to be employed in October 2012 than those who did not, according to the latest Employment Situation report released by the Bureau of Labor Statistics.  For those without a high school diploma, October was an even tougher month than September.

Only 3.8 percent of college graduates were unemployed last month, down from 4.1 percent in September, according to the report.  In October 2011, the unemployment rate for college graduates was 4.4 percent.  For those with some college experience, or an associate’s degree, the rate was 6.9 percent in October, higher than it was in September, when the rate was 6.5 percent, though still improved from a year ago, when the rate was 8.2 percent.

Having at least some college experience is the way to be below the national unemployment rate of 7.9 percent, according to the bureau’s statistics.

Those with a high school diploma, but no college experience, had an unemployment rate of 8.4 percent, while those without a high school diploma or equivalent had a rate of 12.2 percent.  In September, the rate of unemployment for those without a high school diploma was 11.3 percent.  In October 2011, the rate was 13.8 percent.

The Department of Labor’s Bureau of Labor Statistics releases its Employment Situation report each month.  The unemployment rate is determined through a survey of approximately 60,000 individuals, and carried out by the U.S. Census Bureau.