This is the second in our series of posts by graduate students on the job market this year.
In the 1960s, black and white individuals in the United States had radically different labor market outcomes. In 1962, the unemployment rate for African-Americans was 13 percent while it was only 6 percent for whites. Fifty years have passed, enough time for Martin Luther King to go from movement leader to monument, but as of 2010, the unemployment rate in the U.S.
One of the frustrations facing job seekers worldwide, but especially in many developing countries, is how much finding a job depends on who you know rather than what you know. For example, in work I’ve done with small enterprises in Sri Lanka, less than 2 percent of employers openly advertised the position they last hired – with the most common ways of finding a worker being to ask friends, neighbors or family members for suggestions. Clearly networks matter for finding jobs.