Don’t Believe the Unemployment Statistics; they’re fake. Is this true?
By Chris M. Ingram, LL.M., ESQ
According to the Bureau of Labor Statistics (BLS) the unemployment rate fell from 4.7% to 4.4%. However, if you follow the sensational news headlines about the latest President Trump Tweet or utterance you just might miss some very exciting and real economic news. Unemployment is falling. Some economists would argue that we’re almost at full employment. Should we be celebrating? Of course, we should. I remember when the unemployment rate was almost at 10% and we were in a deep recession, so sure we should be excited.
It’s true, if you only cite the 4.4% average of the Unemployment rate you can create a misleading impression as these numbers vary widely according to your education and age.
Truth, is whether you celebrate or not will very much depend on your level of education because the rate of employment varies between education levels. If you have a Bachelor’s degree or higher; as of January 2017 and according to the BLS, the unemployment rate was only 2.5%, but if you do not have a college degree, just a high school diploma then the rate is more than three times as high at 7.7%
I would submit that whilst many politicians might tout the average unemployment rate at being 4.4% there is a whole swath of people for whom that percentage is not their reality. Disconnect. In fact, for people in STEM (Science, Technology, Engineering and Math) the unemployment rate is more likely to be 0%, and indeed there is now a wage war going on amongst STEM employers as they poach staff from each other.
Senator and former Presidential Candidate gained popularity amongst the young because he championed introducing the $15ph minimum wage, an end to College Tuition Fees and acknowledged the high unemployment rate of the youth.
In contrast, for the less educated or depending on age, the unemployment rates will again tell their own story. For example, the 20-24-year-old unemployment rate average is 7.3%, whereas the 45 – 54-year-old unemployment rate is just 3.2%. If you’re 16-19 the unemployment rate is as high as 14.7%.
Let’s go political for a moment. So, when the unemployment rate is at 4.4%, it will certainly appear tone deaf to those Blue-Collar factory workers in certain states where industry has been in decline and it will not resonate with the young. If you’re a Blue-Collar worker with similarly educated children, the future will look completely different than STEM parents with STEM children.
If you’re a STEM worker then you’re probably saying ‘what unemployment rate?’
The Immigrant angle, US Immigration is so tough that for the most part, if you’re highly educated then through the EB1 Green Card program you can get in. If you have money, sufficient to invest in buying your own business or setting up your own business then there are opportunities through the E2 Investment Visa and if you have a spare $500K then you can buy an EB5 Green Card.
If you’re a business owner, you look at the over unemployment rate and the strength of the economy and thinking, wow, America is doing really well, which is in fact very true.
Education and Money are the keys to the American for the most part. In fact, these days this story is barely covered in the news and it should be shouted from the roof top. America, is definitely open for business and now is a great time to jump in.
Chris M. Ingram., LL.M, ESQ
Attorney at Law
Immigration Law Offices of Chris M. Ingram
US Immigration Law Offices of Chris M. Ingram
Chris M. Ingram LL.M., ESQ – Immigration Attorney
Admitted in New York.
Practice Specializing in US Immigration Law
401 Wilshire Boulevard, 12th Floor,
[Cross Streets 4th and Wilshire]
Santa Monica,
California 90401
Tel: 310 496 4292
About Chris M. Ingram., LL.M., ESQ.
Attorney Chris M. Ingram is originally from Northampton, England. Chris M. Ingram Graduated with a BA(Hons) Degree in Law from De Montfort University, Leicester, UK in 1994, Chris M. Ingram then went on to the De Montfort School of Law in 1996 and graduated with a Post Graduate Diploma in Legal Practice (PGDLP). In 1998 Chris M. Ingram graduated with a Masters of Laws and Letters (LL.M) from Huddersfield University, UK. and after relocating to the U.S. Chris was admitted to the New York State Bar in 2003. Chris has been a member of the American Immigration Lawyers Association since 2004.
Having gone through the US Immigration process personally with his wife and three children, Chris M. Ingram founded his own law firm with the clear mission to make sure every client had the very best US Immigration experience possible. To begin with, Chris M. Ingram set about writing and creating the very best comprehensive US Immigration education platform so that every visitor had the opportunity to discover in their own time and at their own pace their US Visa, Work Permit and Green Card options for free. Today, the Law Offices of Chris M. Ingram’s website has over one thousand pages of content and hundreds of education videos and testimonials to inform and inspire every visitor. We are adding new content all the time.
Attorney Chris M. Ingram also believes that everyone should be able to have a free consultations so that potential clients can speak personally and confidentially with an immigration specialist and discuss their US Visa, Work Permit and Green Card needs and learn about how we can help them achieve the American Dream.
We’re delighted you have found us and we look forward to helping you make this a reality this year. You’ve come to the right place.
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