Newsweek: Dead Suit Walking
If this isn't the Great Depression, it is the Great Humbling. Can manhood survive the lost decade?
... The suits are “doing worse than they have at any time since the Great Depression,” says Heidi Shierholz, a labor economist at the Economic Policy Institute. And while economists don’t have fine-grain data on the number of these men who are jobless—many, being men, would rather not admit to it—by all indications this hitherto privileged demo isn’t just on its knees, it’s flat on its face. Maybe permanently. Once college-educated workers hit 45, notes a post on the professional-finance blog Calculated Risk, “if they lose their job, they are toast.”
The same guys who once drove BMWs, in other words, have now been downsized to BWMs: Beached White Males.
Through the first quarter of 2011, nearly 600,000 college-educated white men ages 35 to 64 were unemployed, according to previously unpublished Labor Department stats. That’s more than 5 percent jobless—double the group’s pre-recession rate. That might not sound bad compared with the plight of younger, less-educated workers and minorities, but it’s a historic change from the last recession, when about half as many lost their oxford shirts. The number of college-educated men unemployed for at least a year is five times higher today than after the dotcom bubble. In New York City, men in the 35-to-54 kill zone have lost jobs faster than any other group, including teenage girls, according to new data from the Fiscal Policy Institute. ...
Also, see chart about a survey, Sorry, He's Toast
