Posted on 12/26/2021 5:05:33 PM PST by SeekAndFind
The college class of 2020 entered one of the most hostile labor markets in recent history. During the first year of the Covid pandemic, employment decreased across the country. By many measures, college graduates fared best during this period, but as time passes, research is capturing just how difficult conditions are for young workers.
The National Association of Colleges and Employers (NACE) recently analyzed the outcomes for 563,000 bachelor’s graduates across 337 colleges and universities and found that only 50.2% of the class of 2020 had full-time jobs with a traditional employer (meaning they are not working as a freelancer or entrepreneur) within six months of graduation. In comparison, 55.3% of the class of 2019 graduates were employed within the same time frame.
Students who attended colleges with fewer than 2,000 students tended to do better after graduation. Closer to 62% of these students had full-time positions after six months.
“The Covid-19 pandemic had a significant effect on the job market for the Class of 2020, and our report illustrates that,” says Shawn VanDerziel, executive director of NACE. “In terms of employment within six months of graduation, 2020 graduates had the worst outcomes since we began tracking with the class of 2014.”
According to an analysis of Bureau of Labor Statistics data from January 2020 to October 2020 by Pew Research Center, 2020 college graduates saw a bigger decrease in labor force participation than those who graduated during the Great Recession.
Pew estimates that among all Americans ages 16 and older, the employment rate declined from 61% in October 2019 to 58% in October 2020.
(Excerpt) Read more at cnbc.com ...
Yet I am reading that employees are EXITING their jobs in near record numbers! It appears to me that these two reports conflict! I am sure that there are expets available to explain this discrepancy but are they anymore believable than Dr Fake?
There are a few professions for which college would be essential. But there are plenty of jobs for which college is “essential” only in the mind of HR. Plenty of work can be done by an 18-year-old if On The Job training is provided. The college debt is a crime.
Also, many of the best jobs are “blue collar”. Be a machinist. A welder. A plumber. Electrician. There is a lot out there, but many young people are “too good” for that kind of work, which is why they may be unemployed, in debt, and living in Mom’s basement.
Lots of stripper poles are hiring.
Given the Covidiocy and the fact that about half of them have completely useless degrees, I’m surprised that even 25% of them have even a menial part-time job.
I have a son who graduated with a mechanical engineering degree in Dec 2020. He is now working as a plumber.
For all genders, these days…
Hard to get a full time job with 6 figures when your degree is in Lesbian Gymnastics. (Unless you get a college professorship teaching Lesbian Gymnastics).
My son graduated in 2020 with a BS in Business Administration and first got a temporary job working for the SBA approving PPP loans, and now works full time for the FDIC. But some of his unemployed and college educated friends aren’t even applying for jobs.
Plenty of worthless degrees.
My son got a bachelor’s degree in business and worked in high tech sales development. He hated it. He is now in residential remodeling construction, works hard, sees results and is a LOT happier. If he starts his own firm, his business degree will be a big benefit.
“ Unless you get a college professorship teaching Lesbian Gymnastics.”
At a school with a division one lesbian gymnastics team.
After obtaining my undergraduate degree I worked as a bartender and carpenter, establishing a good work record until getting my first chemistry job. I also moved to Houston where the jobs were at the time. Good advice for today’s grads.
Stop the mass importation of guest workers & these kids may find work.
Assuming he’s fluent in Spanish, he could become a major domo in homebuilding. Good for him.
Slackers.
They wanted the corner office and company car right out of the gate.
I don’t believe the “mass exodus of workers” mantra because wages aren’t rising as they would if that was true; I DO believe many people are switching jobs because they are able to (but remaining employed). Stagnant wages coupled with Bidenflation make it a no-brainer for many people; for a long time now some have said you really only advance by switching jobs every so often, and apparently just more see it clearly now than before (because of those two factors). I know some people in that situation; they had good reasons to abandon jobs that simply weren’t worth the pay and/or stress anymore, and they moved on to better positions.
I like Mike Rowe’s “Dirty Jobs”, but he skirts something that would be an issue in any place but the most rural: How do wages compare with the cost of living where these jobs are available?
I see people discuss a shortage of truck drivers in the economy, but when jobs like that offer salaries around $35,000 then you really can’t live in many places with any real standard of living. When he visits rural places showing poultry or meat-packing jobs, those may offer pay for those areas that is OK - or maybe just offer locals an opportunity to remain in the area instead of fleeing for other work. Otherwise, I don’t know how many of those jobs would support a family (if that is still a goal). Some definitely could (plumbers, electricians); others not so much - the salaries fell as we turned from manufacturing to a service/”McJobs” economy. Everyone seems to know blue collar millionaires, but the fact is that Americans have always done all kinds of jobs - for decent wages. If there was money (and stability) in some of those fields, people would flock to them.
No job and they gotta pay the over priced tuition. It is only a temporary reprieve.
My kid graduated in 2019 as an astronautical engineer. He works at NASA as an engineer.
His school has an employment guarantee.
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