Global| Jul 07 2014U.S. Unemployment Rate Differences Persist Between Men and Women, Young and Old
by:Tom Moeller
|in:Economy in Brief
Summary
The overall civilian unemployment rate fell sharply to 6.1% in June, down from the high of 9.6% reached during all of 2010. Improvement extends across all age brackets, though the young continue to realize relatively high rates of [...]
The overall civilian unemployment rate fell sharply to 6.1% in June, down from the high of 9.6% reached during all of 2010. Improvement extends across all age brackets, though the young continue to realize relatively high rates of joblessness. Amongst teenagers the jobless rate actually jumped last month to 21.0%, its highest level since February. Moreover, the rate remained four times the 5.1% rate for those aged 25-54 years old. For young adults, aged 20-24, the jobless rate of 10.5% remained twice that for adults. For individuals aged 55 and over, the unemployment rate posted a sharp decline last month to 4.4% from 7.0% at its peak.
Groupings by male and female now show lessened differences versus the recession. The overall unemployment rate of 6.3% for men versus 5.9% for women compares to 10.5% and 8.6%, respectively, during their 2010 peaks. For adults, the difference between the male and female jobless rate shrank to nothing last month, both roughly 5.2%. At their 2010 peaks, however, the male unemployment rate of 9.3% compared to women's 7.8%. For younger age cohorts, the differences remain extreme versus 2010. The current teenage unemployment rate reflects a 23.2% rate for men and 18.7% for women. In 2010, the male unemployment rate was 28.8% versus 22.8% for females. For young adults, aged 20-24, the differences have diminished, but to lesser extents. The current 11.7% jobless rate for men compares to 9.1% for females. In 2010, men's jobless rate of 17.8% compared to 13.0% for women.
These detailed unemployment rates are available in Haver's EMPL database.
| Unemployment Rate (%) | Unemployment Rate - Current | Unemployment Rate - 2010 | Current Unemployment Rate - Men | Current Unemployment Rate - Women |
|---|---|---|---|---|
| Total | 6.1 | 9.6 | 6.3 | 5.9 |
| 16-19 Years | 21.0 | 25.9 | 23.2 | 18.7 |
| 20-24 Years | 10.5 | 15.5 | 11.7 | 9.1 |
| 25-54 Years | 5.1 | 8.6 | 5.1 | 5.2 |
| 55 + Years | 4.4 | 7.0 | 4.9 | 3.9 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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