Return to Transcripts main page
CNN Live At Daybreak
Better Educated Find Jobs Faster
Aired June 16, 2003 - 06:17 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for a little business buzz right now. As the job market continues to be weak, stay in school looks like good advice.
For the latest numbers on education and unemployment, let's go to Carrie Lee at the Nasdaq market site in New York. Susan Lisovicz apparently has vacation.
Welcome -- Carrie.
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Thank you so much, Carol.
Well, we already know that the employment situation in this country has been rather weak, as you've said. Recently we learned that the unemployment rate ticked up to 6.1 percent. That's pretty close to a nine-year high. Also, in terms of weekly jobless claims, new faces in the unemployment line, we've been above that 400,000 level signifying weakness for almost four months, so not exactly a rosy picture.
Part of the reason here, some of the underlying themes, our country has been shifting from a manufacturing-based economy to more of a knowledge-based economy, so continually employers are putting more emphasis on education.
Also, if you break down the current employment picture by education level, you can see that since the beginning of the year the job market has been pretty static for workers with at least some college experience. But unemployment has actually been rising for people with a high school degree or less.
Let's take a quick look at some of the stats here and you can see that unemployment figures, according to the education level, since January show that workers with less than a high school diploma stand at a 9.2 unemployment rate. Workers with a high school diploma, well they're facing a 5.5 percent rate. And then finally workers with a high school, rather, workers with at least a bachelor's degree stand at 3.1, Carol. So pretty much breaks down quite evenly there.
COSTELLO: Yes, stay in school. That's the message here. We'll get back to you in the next half hour. Carrie Lee reporting live from New York.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Aired June 16, 2003 - 06:17 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for a little business buzz right now. As the job market continues to be weak, stay in school looks like good advice.
For the latest numbers on education and unemployment, let's go to Carrie Lee at the Nasdaq market site in New York. Susan Lisovicz apparently has vacation.
Welcome -- Carrie.
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Thank you so much, Carol.
Well, we already know that the employment situation in this country has been rather weak, as you've said. Recently we learned that the unemployment rate ticked up to 6.1 percent. That's pretty close to a nine-year high. Also, in terms of weekly jobless claims, new faces in the unemployment line, we've been above that 400,000 level signifying weakness for almost four months, so not exactly a rosy picture.
Part of the reason here, some of the underlying themes, our country has been shifting from a manufacturing-based economy to more of a knowledge-based economy, so continually employers are putting more emphasis on education.
Also, if you break down the current employment picture by education level, you can see that since the beginning of the year the job market has been pretty static for workers with at least some college experience. But unemployment has actually been rising for people with a high school degree or less.
Let's take a quick look at some of the stats here and you can see that unemployment figures, according to the education level, since January show that workers with less than a high school diploma stand at a 9.2 unemployment rate. Workers with a high school diploma, well they're facing a 5.5 percent rate. And then finally workers with a high school, rather, workers with at least a bachelor's degree stand at 3.1, Carol. So pretty much breaks down quite evenly there.
COSTELLO: Yes, stay in school. That's the message here. We'll get back to you in the next half hour. Carrie Lee reporting live from New York.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
