Down in the details of today's unemployment report is a staggering statistic. The official seasonally adjusted unemployment rate for adult (20 years+) males now stands at 10%!
The 10% statistic brought to mind the song from the 80's recession, One in Ten by UB-40.
Lyrics (partial)
I am the one in ten
A number on a list
I am the one in ten
Even though I don`t exist
Nobody Knows me
But I`m always there
A statistical reminder
Of a world that doesn`t care
My arms enfold the dole queue
Malnutrition dulls my hair
My eyes are black and lifeless
With an underprivileged stare
I`m the beggar on the corner
Will no-one spare a dime?
I`m the child that never learns to read
`Cause no-one spared the time
The numbers are really quite stunning. In the past 12 months the unemployment rate for males 20 and over has gone from 5.2% (4.1 million) to 10% (7.9 million), and that is with a decline in the participation rate, meaning the true number is even worse.
By contrast the rate for females 20 and older has gone from 4.8% (3.3 million) to 7.6% (5.3 million).
The difference is likely explainable by the type of jobs lost (construction and manufacturing) which are male dominated compared to health care (female dominated) where jobs were added.
Still the number, 10%, is a staggering milestone.