I'm sure that a lot of knowing an unemployed person depends on what your cohort is composed of.
Just after I graduated college 'Nam had just ended and my cohort included a LOT of vets with no jobs and nowhere to go.
As the data from BLS shows unemployment in Jan of 1976 was 9.3%. I don't have the resources to fully dig down to the small differences (% black, % white, % redhead, etc) but I'm sure there were a lot more young males than 55 year old college educated males.
One of the large differences I've seen in this go around is the massive layoffs of state and local government workers that happened last year. Like another poster mentioned I've seen a lot of "early outs" and people deciding to retire rather than being moved around in jobs in the Federal gov.
What I'm waiting for is massive layoffs of defense contractors when/if our war machine winds down.
from
http://en.wikipedia.org/wiki/Privat...n.wikipedia.org/wiki/Private_military_company.
When they are no longer needed what will they do in private industry?
How many imagery analysts does GM need? What's the requirement for EOD personnel at WalMart?
Or will they just get moved to another theatre?
Donald Rumsfeld was just about to downsize the military in this article fron August 11th 2001 (pre 9/11)
Downsizing of military now unlikely - seattlepi.com
But we went to war.
What's going to happen now? If we bring back 100,000 troops and downsize the entire support chain down to the burger flippers outside of military bases I expect at least another 500,000 unemployed/underemployed.
If your cohort is 20 to 30 year olds there will be a LOT of them unemployed. My cohort virtually noone works, we are all retired.