Click to enlarge.
If we stick to the current "hard landing" parabolic path, we'll completely run out of unemployed workers aged 25 and up with no high school education in June of 2017. Further, we're just a few months away from the old record low set back in December of 1999. How crazy is that? Party like it's 1999? Indeed!
In any event, this trend must fail. It is 100% certain. There's no arguing with the math. How it fails is open for debate. I would argue that since we're literally coming in like a meteor (parabola and all), it probably won't be a soft landing. What can I say? I'm not an optimist.
Should we actually reach zero unemployment for these workers, this will be the stuff of legend. They'll be writing research papers about it centuries from now. Seriously. Hard landings, what went wrong, nobody could have seen it coming, you know, it will be the same old routine we've been through before for the most part.
Have no fear though. Should our lesser educated unemployment reserves become exhausted, many of of these additional jobs can be filled by those with more education. Whew! Recent college graduates saddled with debt would certainly qualify. This will also be part of the research papers more than likely.
July 30, 2014
The Onion: Study Finds College Still More Worthwhile Than Spending 4 Years Chained To Radiator
WASHINGTON—A study published Wednesday by the National Education Association has determined that a four-year college education is still a better investment of one’s time and money than spending the same duration chained to a radiator in a dank, unlit basement.
The future's so dank and unlit, I gotta somehow get free of this basement. Sigh.
Six Questions for John Williams, President of the Federal Reserve Bank of San Francisco
St. Louis Fed: Unemployment Level - Less than a High School Diploma, 25 years and over