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Executive: Speculation driving oil prices
BOSTON, Jan. 19 (UPI) -- A Northeastern University Center for Labor Market Studies report says one of six U.S. blue collar-workers lost their jobs in the recession.
The statistics for construction and manufacturing workers mirror those of the Great Depression, when one in six workers lost a job and the unemployment rate soared above 20 percent, The Boston Globe reported Tuesday.
Among members of the New England Regional Council of Carpenters, the unemployment rate is more than 25 percent, executive secretary-treasurer Mark Erlich said.
The Northeastern University study also said 70 percent of the blue-collar jobs lost are not coming back.
To compare sectors, the study said in Massachusetts each job opening in construction had 65 out-of-work construction workers that could apply for the job. Every manufacturing job opening could have 24 unemployed workers standing in line. For white collar professionals, there are two unemployed workers per job opening, the study said.
"When the global economy fell off a cliff, it basically landed on us,'' Erlich said.
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