Friday, July 1, 2011

Construction workers 30 and under most likely to seek unemployment insurance

On average, a person most likely to file for unemployment insurance during the economic downturn was male, under 30 and has worked in the construction industry. Twenty-two percent of people seeking unemployment insurance benefits are 50 and older. By and large, people with higher levels of education fare better in the job market during economic downturns. However, the DWS statistics said 12 percent of Utahns who sought unemployment insurance had a bachelor's degree or higher. Ten percent of claimants made more than $50,000 a year.

The statistics say one-third of claimants did not graduate from high school and one-fifth made less than $10,000 a year. More men have filed for unemployment insurance than women, 63 percent versus 37 percent, which officials attribute to more males working in the hardest-hit industries, construction and manufacturing.

Still, the numbers suggest that more people are returning to work, as initial claims and continued claims trend downward. The amount paid out in claims has also decreased from a year ago. Deseret News

Note: Even during an economic expansion, construction workers are most likely to file for unemployment insurance benefits due to the seasonal and job-to-job nature of the industry.