This Economist article provides an interesting addition to the argument about the job-market costs of dropping out of high school even when there is no recession. The author touches on racial aspects, imprisonment, and measurement differences to argue that the cost of dropping out of high school in terms of future unemployment is higher for young black men, because of the additional socioeconomic and educational barriers in front of them.
http://www.economist.com/blogs/freeexchange/2011/05/education_and_unemployment
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