You have to wonder what policy and the discourse would look like if unemployment weren’t so stratified by educational attainment:
The people in all the key jobs—not just the members of congress and cabinet secretaries and FOMC members and newspaper editors, but the bulk of the people who staff those people—are virtually all college graduates. And the way America works in 2010 those people are overwhelmingly going to have friends, neighbors, and acquaintances who are also college graduates. And while the labor market outlook for college graduates is bad by the standards of recent history, it’s really not catastrophic. Things look very different for people with high school diplomas. And note that if someone you know is considering dropping out of high school, you ought to do everything possible to convince him or her to reconsider. Even in non-recession times, the labor market outlook for people who don’t finish high school is very bad.