Tuesday, May 10, 2011

The Mancession: Hey, Look, I'm A Bona Fide Statistic

Through the first quarter of 2011, 600,000 college-educated white men ages 35 to 64 were without full-time jobs, according to new Labor Department stats. That's more than 5%—double the group's pre-recession rate, and an historic change from the last recession, when about half as many lost their shirts.

The number of college-educated men unemployed for at least a year is five times higher today than after the dotcom bubble burst. In New York City, men in the 35-to-54 kill zone have lost jobs faster than any other group, according to the Fiscal Policy Institute.

From the late 2007 financial meltdown that led to the recession to now, the tally of unemployed unemployed white professional men has more than doubled to 1 million. Sales jobs add another 300,000.

Perhaps that explains why I have little sympathy for fresh-face recent college graduates moaning that they can't find work. They're hardly leaving behind decades of experience and know-how.