Those who think the answer to the unemployment problem is more education might be surprised to learn the Majority of Unemployed Attended College.

For the first time in history, the number of jobless workers age 25 and up who have attended some college now exceeds the ranks of those who settled for a high school diploma or less.

Out of 9 million unemployed in April, 4.7 million had gone to college or graduated and 4.3 million had not, seasonally adjusted Labor Department data show.



click on chart for sharper image

In 2011, 57% of those 25 and up had attended some college vs.

Reader Tim Wallace provides an interesting chart of apparel sales in the US by price and by unit volume. In this case, volume is likely the more telling statistic.

Hi Mish

As always, I am watching imports, especially with fascination the apparel imports. In the attached graph we see that dollars and units run mostly in slope lock-step until the crash of apparel demand in 2009.

In 2010 we see a significant "recovery". One thing about apparel is it does wear out, so a year like 2009 will cause pent-up demand in a following year.

Italy Deploys 20,000 Law Enforcement Officers to Protect Individuals and Sensitive Sites

The Atlanta Journal Constitution reports Italy deploys 20,000 to protect sensitive targets

Italy increased security Thursday at 14,000 sites, and assigned bodyguards to protect 550 individuals after a nuclear energy company official was shot and letter bombs directed to the tax collection agency.

Under the enhanced measures, Interior Minister Anna Maria Cancellieri deployed 20,000 law enforcement officers to protect individuals and sensitive sites. In addition, 4,200 military personnel already assigned throughout Italy will be redeployed according to new priorities.

Authorities will also increase intelligence to "neutralize" the risk of subversive actions "that can be nourished in moments of tension," the statement added.

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Greek elections are set for June 17th following the impasse of the last election where no majority government formed.

The "Destroy Greece to Save the Euro" clowns led by German Chancellor Angela Merkel are out in force hoping to turn the vote into a direct referendum on the Euro. The election is of course a direct referendum on the Euro, but Greek citizens are under three Fantasyland ideas.

Three Fantasyland Ideas

1. The euro is a good thing for Greece
2. It is possible for Greece to stay on the euro but default on debt
3. Greece can recover in the eurozone

It's time for another roundup on Spain. Every day is time for another roundup on Spain. Today's report is on bad loans, and complete foolishness at Bankia buying its own shares hoping to stabilize its price.

Spanish Bad-Loans Ratio Hits 8.37 Percent

The Wall Street Journal reports Spanish Bad-Loans Ratio Hits 17-Year High

Bad debts held by Spanish banks rose to a 17-year high in March and the cost of insuring the debt of two major Spanish banks against default hit a record Friday a day after the sector was hit by a downgrade, underscoring the continuing challenges posed by the country's five-year property slump.

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