Congratulations, Grad, You’re Unemployed
I wrote an opinion piece for Politico
today on the tough economy recent college graduates are facing:
Just when it looked like the job market was going to rebound, recent unemployment numbers revealed a disappointing reality. The April unemployment rate decreased to 8.1 percent from 8.2 percent; however, the percentage of working-age Americans in the labor force dropped to its lowest rate (63.6 percent) since 1981. Roughly 342,000 Americans dropped out of the labor market. That’s more than double the number of jobs created between March and April.
But as bad as this employment outlook is, it is particularly harsh for recent college graduates. Though May is supposed to be a time of excitement for college seniors as they celebrate earning their degrees and prepare to enter the workforce, too many graduates face a bleak job market and an uncertain future.
Government data last year found that 53.6 percent of people under age 25 with a bachelor’s degree — about 1.5 million people — were unemployed or underemployed. It is the highest percentage in more than a decade, reflecting just how far the economy is from recovery.
Read the rest of the article on Politico
For our recent NeW grads, how are you and your friends finding the job market? Share your thoughts below!