A few links for you ahead of tomorrow’s Labor Department release of November unemployment numbers.

Here is a link to the October summary showing the 6.5% number, http://www.bls.gov/news.release/empsit.nr0.htm

If you scroll down you will find other tables of information including this one which shows why unemployed http://www.bls.gov/news.release/empsit.t08.htm.

And this one which shows what is likely the real under/unemployment rate as 11.8%, http://www.bls.gov/news.release/empsit.t12.htm

With careers, I think the right way to play it out is to stretch out your education over a true lifetime continual learning model. Buying 4, 6 or 9 years (bachelor’s/masters/PhD) worth of ‘education’ at once in one field is like investing in a one stock. Students already do things to mitigate the stupidity of this — stretching even the undergrad to 5-6 years, taking exploratory co-ops, declaring majors late, taking on multiple minors etc. But really, the entire education model needs to be revamped. Univs should offer a “4 years timeshared over 10 years” kinda plan, where you gradually segue from being a full-time student to a full-time worker, exploring and developing a whole portfolio of economically marketable skills through interleaved educational and work experiences. Years 1 and 2 would be full time study with summer work. Years 3 and 4 would have 6 mo study/work. Years 5-10 would be 3 mo education/9 mo work.

While I don’t regret a minute of my 9 continuous full-time years in mechanical and aerospace engineering, I basically lucked out. My ‘deep’ skill set of mathematical modeling of systems is among the most portable technical skillsets on the planet, one that allows me to productively add value to anything from archeology to zoology. Others doing less portable things are not so lucky and have to retrain themselves to amateurish levels in domains where their paid-up-for skills don’t port, and then feel underpaid/overqualified. The classic case being the English PhD flipping burgers.

Today, I spend most of my time thinking about the future of publishing and new models for print/media. Mechanical and aerospace engineering are distant nostalgic memories for me, and the most relevant education I got was actually a year I spent (‘invested’) in an Internet media startup in 2000-2001.

And yeah, I have a portfolio going too, even though #1 of my 3-4 income streams accounts for 95% of my total. You want balance as well as risk diversification too (‘bond’ gigs with lower returns, ‘mature stock’ gigs with less predictable but higher returns, and shots in the dark that could make you millions).