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Why College Grads Get Stuck With Lousy Jobs
Yahoo Finance Daily Ticker ^ | 06/28/2013 | Rick Newman

Posted on 06/28/2013 1:06:07 PM PDT by SeekAndFind

It’s tough being a young worker in today’s difficult job market. But if your parents tell you it was even tougher when they were your age, don’t roll your eyes and write them off. They might just be right.

A common predicament among recent college grads is the difficulty finding professional work that matches their qualifications. Some hold out and refuse to take a job for which they’re overqualified, which is why the unemployment rate for recent grads, at about 6%, is higher than the rate for college grads as a whole, which is only about 4%.

A bigger problem, however, is underemployment. Many new diploma holders need a paycheck, no matter how small, so they take jobs that don’t require a college degree, such as retail clerk, waiter, barista, or medical technician. Nearly 45% of college students who graduated during the last five years count as underemployed in this manner, according to new data compiled by economists at the New York Federal Reserve.

That sounds high—but it was even higher during the mid-1990s, when the economy was also recovering from a recession. Back then, the underemployment rate among recent college grads was nearly 50 percent, or a few points higher than it is now. That’s peculiar because the 1990-1991 recession was mild, whereas the 2007-2009 recession we’re still recovering from was severe. By most other economic measures, the recent recession was the worst since the 1930s.

There was nothing unusual about the economy in the 1990s that punished college grads. In fact, it was typical back then for recent grads to toil beneath their standing, as it were, before finding better work and starting a career. “It’s not unusual for a significant share of college grads to be working in a job that doesn't require a degree,”

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy; Education; Society
KEYWORDS: amnesty; college; jobs; obamachinajobs; unemployment
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To: The Cajun

I respect the under-employed far more than the “I can’t find the perfect job at high pay so I’ll stay at home” type. Working at Half Price Books or Subway makes you productive and a taxpayer, while living at home crying about the unfairness of the world hurts everyone.


51 posted on 06/28/2013 3:09:09 PM PDT by tbw2
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To: SeekAndFind

It’s tough for a young person to enter the job market when old people aren’t able to retire. The new system seems to be to take your retirement in your twenties and thirties and then work until you’re in your nineties.


52 posted on 06/28/2013 3:50:33 PM PDT by Route797
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To: Gen.Blather

>>Later, the daughter divorced this guy because he was planning on being a student for the rest of his life and she’d decided to move on. She remarried somebody with a job and they’ve been very happy and had children.

I love a story with a happy ending.

< thumbs up!>


53 posted on 06/29/2013 7:06:40 AM PDT by FreedomPoster (Islam delenda est)
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To: faithhopecharity

I would argue that many of those liberal degrees make you less suitable for employment when compared to those without. At least those without haven’t been fully brainwashed into the Leftist mindset, are less likely to be the source of some sort of lawsuit, etc.


54 posted on 06/29/2013 7:11:23 AM PDT by FreedomPoster (Islam delenda est)
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To: FreedomPoster

It is also the dysfunctional attitudes about work and life. The kids often get taught wrong things about more than politics. But perhaps this is just a different way of trying to say the same thing. They are rendered less than useless. You’re better off not hiring many of them regardless of wage rates. Your business will work better not having them around. Even for free


55 posted on 06/29/2013 7:34:57 AM PDT by faithhopecharity (()
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To: FreedomPoster

It is also the dysfunctional attitudes about work and life. The kids often get taught wrong things about more than politics. But perhaps this is just a different way of trying to say the same thing. They are rendered less than useless. You’re better off not hiring many of them regardless of wage rates. Your business will work better not having them around. Even for free


56 posted on 06/29/2013 7:34:58 AM PDT by faithhopecharity (()
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To: faithhopecharity

Exactly, we see this similarly. Unless there is strong evidence they have overcome the conditioning that is part and parcel of this class of college degrees, you are better off without.


57 posted on 06/29/2013 8:39:02 AM PDT by FreedomPoster (Islam delenda est)
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To: LibertyOh

At the very least have him look at certification courses. If he works in Microsoft technologies there are loads and loads of class called MCTS series. Your buy the book and study on your own then take the test. Books and tests for each level run about $250-$350. There are come classes you can attend also if that is your bag.

I am sure there are the same offerings in other technologies.


58 posted on 07/01/2013 7:58:29 AM PDT by Resolute Conservative
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To: tbw2

The problem is that companies like Subway and Half-Price Books know that people with degrees will ditch their jobs as soon as something better comes along and, thus, do not hire them in the first place....


59 posted on 07/01/2013 8:19:33 AM PDT by Eepsy
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