Recession Comes to the Professionals

Business Week's Michael Mandel crunches the numbers and turns up some disturbing results. While recession has hit hardest at blue-collar workers, it is taking its toll on professional jobs as well. Unemployment for professionals overall increased by roughly four percent between August 2008 and April 2009. But the recession is hitting much harder at certain types of professionals. Computing and mathematical jobs (heavy on software engineers, computer scientists, and systems analysts) are down 9.3 percent; engineering and architectural jobs (two-thirds engineering) are down 10.3 percent; and "creative professional" jobs - working artists, musicians, dancers, entertainers, reporters, editors, writers, and other media types - are down 11.3 percent.

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Richard Florida is Co-founder and Editor at Large of CityLab.com and Senior Editor at The Atlantic. He is director of the Martin Prosperity Institute at the University of Toronto and Global Research Professor at NYU. More

Florida is author of The Rise of the Creative Class, Who's Your City?, and The Great Reset. He's also the founder of the Creative Class Group, and a list of his current clients can be found here.

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