Tight job market benefits seniors and less-educated workers

AP News
|
Posted: Feb 02, 2018 12:17 PM

WASHINGTON (AP) — Less-educated workers and seniors made gains in the job market in January, reflecting a tight labor market in which many employers are struggling to fill open positions.

The unemployment rate for Americans without a high school diploma dropped to 5.4 percent, the second-lowest level on records dating to 1992. That rate is down nearly 2 percentage points from a year ago.

The jobless rate for Americans 55 years and older fell to 3 percent, well under the overall unemployment rate and the lowest level since 2008.

All told, employers added 200,000 jobs in January. The overall unemployment rate held steady at 4.1 percent.

The data for demographic groups came from a survey of households that is part of the Labor Department's monthly jobs report.

Unemployment rate by group:
(Numbers in percentages) January 2018 December 2017 January 2017
White 3.5 3.7 4.3
Black 7.7 6.8 7.8
Asian 3.0 2.5 3.8
Hispanic or Latino ethnicity** 5.0 4.9 5.9
Adult men 3.9 3.8 4.4
Adult women 3.6 3.7 4.4
Teenagers 13.9 13.6 15.0
20-24 years old 7.4 7.1 8.2
25-54 years old 3.5 3.4 4.1
55 and over 3.0 3.3 3.5
Veterans of Iraq/Afghanistan* 4.1 3.3 6.3
No high school diploma 5.4 6.3 7.3
High school graduate 4.5 4.2 5.2
Some college 3.4 3.6 3.8
College graduate 2.1 2.1 2.5
Duration of Unemployment:
Average length (weeks) 24.1 23.6 25.3
Jobless 6 months or more (pct.) 21.5 22.9 24.1
*Not seasonally adjusted
**Includes all races
Source: Labor Department