Skip to comments.1 in 2 new graduates are jobless or underemployed
Posted on 04/22/2012 12:31:28 PM PDT by 2ndDivisionVet
The college class of 2012 is in for a rude welcome to the world of work.
A weak labor market already has left half of young college graduates either jobless or underemployed in positions that don't fully use their skills and knowledge.
Young adults with bachelor's degrees are increasingly scraping by in lower-wage jobs waiter or waitress, bartender, retail clerk or receptionist, for example and that's confounding their hopes a degree would pay off despite higher tuition and mounting student loans....
(Excerpt) Read more at news.yahoo.com ...
In today’s “labor market”, a college diploma doesn’t mean much. Everybody has one. Employers are looking for people who are willing to work. IMHO.
Six years' worth of youth being wasted on unemployment! BTW, that's not "unemployment compensation", that's just plain old joblessness.
Their employment environment is remarkably similar to that of youth their age in Greece, Spain and North Africa!
The authors name is Hope Yen
Not Hope Yet??
in the obamite’s way of thinking, the unemployed are their most loyal voting block. this is how they hope to carry “the youth vote” in november.
and the “yoots” are probably stupid enough to give it to him. I live in a college town, and I am already seeing empty headed college kids wearing their obama buttons.
I don’t know about other fields, but in my area (humanities) you typically need at least a master’s degree to get a job directly relevant to your college coursework. The exception is graduate school, of course, but that’s a rather complicated definition of “job”!
Don't fall into the trap of blaming America's 53% unemployment rate among youth on the victims of the failed policies of this government.
Out of all the trillions poured down the drain NONE of it went their way.
Remember, you don't get unemployment compensation unless you had a job. Job training doesn't help you get a job when there are no jobs.
There's a good 15% of the electorate who would not vote for a Democrat for anything. Now it's time for Republicans to figure out how to get those guys to vote FOR a Republican.
I'm pretty sure any candidate who favors importing more illegals won't get their votes, and I'm equally sure they won't vote for anyone they view as cut in the mold of the employers who aren't hiring.
Im way underemployed. But at least I work. and have returned for a grad degree.. it is what it is..
But what about the fields booming under Obama? Fields like repossession, Foreclosure, greeter at the food stamp office, Temp at the unemployment office, auctioneer for bankrupt solar companies and coming this summer paid neighborhood watch captains after the riots start. All these grads are just looking in the wrong fields.
I find it interesting that AP is highlighting such dismal news just before the re-election bid of their boy king...Why do I suspect that the Journolisters are just running stories like this to gin up another “crisis” that Obama will need to solve?
First, blame on the policies of the Bush Administration and then, propose a huge Federal bailout of student loans in order to “help” struggling students who are burdened under a “mountain of debt”. Wouldn’t that be a great way to bring back the youth vote just in time for November?
And if someone should dare to mention that we don’t have any money left or, even worse, mention that if someone was dumb enough to borrow 100K for a totally useless, “Pity-Party” ethnic/gender studies degree, it’s their own darn fault, look for the heartless Republican meme to kick into full gear!
It’s so predictable it’s not even fun to watch any more....and Mittens Romney, along with the rest of the spineless RINOs will get played yet again and then they’ll give in and go along with whatever solution Bambi proposes cause they don’t want to be called “mean”!
If college grads are ambitious, willing to work, persevere at job search, don’t set their sights unrealistically high, have a good work history in high school and college, have an upbeat attitude toward life, and are willing to move to where the jobs are, they will find work. Mine did. It may be tougher than usual, but it can be done.
I don’t know.... I think that far too many students are taking courses to dead end careers rather than seeking out education that actually puts them in the market place.
My son graduates in May of this year with a Bachelors degree in Computer science/programming with honors (Cum Laude). He received his Associates degree Magma Cum Laude almost 2 years ago and did an internship at BCBS. When the internship was suppose to end, they kept him on.
For the past 2 months he has received a multitude of calls for interviews from many companies and he has chosen those that he wished to interview with. He was offered a job with a fantastic company and he could not believe what they were giving him for a starting rate. It was far more than what they stated at his interview which he would have been more than happy to accept as well. But this is so much better.
So I guess the saying goes - choose wisely which course you take. Literally! He chose well!
Grads need to realize that its hard work that pays off more than just having a degree. And for many it's more of a matter of paying off the degree than it is the degree paying off.
Dear college class of 2012, if you want this to change, support the only conservative standing, Newt Gingrich.
If not, then eat from dumpsters for all I care. YOU can watch your dreams burn to the ground with the rest of us.
All they need to do is call 1-800- SHOVEL READY JOBS. Ask for Hope.
“Im way underemployed. But at least I work. and have returned for a grad degree.. it is what it is..”
Good for you!!! I think most of us have to make sacrifices in our lives as we move forward in our careers...I can remember working pulling weeds and cleaning up the landscaping of a business as I was contemplating which management job I would take early in my career. I can also remember later working evenings telephone sales (yech!!!) to help keep up payments on a commercial property I owned.
I have never collected unemployment in my life, I do not begrudge those that do, it is just not for me. Just stick with it, sometimes moving forward requires taking a step back...GOOD LUCK!!!
I wonder how many of the unemployed and underemployed grads have degrees in science, engineering, technology or math.
I always thought if I lost my job I’d go back to college for nursing.
Screw that. If I go back to college, I will try to study something engineering-related.
Hussein et al will begin the meme of the war on students or the war on the young. Hussein wants to re-authorize the low interest on student loans which merely act as a subsidy for Leftist university indoctrination, while driving up tuition prices through availibility of cheap loans. This game will go on and on unless we start beating them to the punch. That’s why we should use the under-employment information and the extra 5 trillion in debt Hussein has inflicted on the nation’s young people as a bludgeon against the Left’s war on the young.
I would say that your son is the exception to the rule.
I am graduating in May 2012 with a Bachelors of Science in Economics from NC State Univeristy cum laude. A BS in Econ from this school is essentially applied mathematics with a major concetration in econometrics. I have experience with time series forecasting, multiple regression (all forms, cochrane-orcutt, IV, Logit, etc.), Box-Jenkins, among others. I can also do advanced mathematics such as Differential Equations, calculus, etc.
On top of that, I have about 2 years worth of programming experience with SAS (it was started at NCSU so they drill it into us), ForecastX, and Gretl. Hasn’t helped me do squat.
Finally, my job search has basically equated to nada. Why? Employers may be looking for people with experience in data analysis however there are many candidates with 2-3 years of actual on the job experience who are taking the entry-level jobs. This pushes me to crappy jobs such as Northwestern sales, etc. which are worthless for my chosen field of banking and data analysis.
Further, everyone I know who is graduating has absolutely NO job offers that are worth a darn. We’re talking 20+ people in majors such as engineering, stats, math, econ etc.
Your son is the exception not the rule.
At this point, I am considering going to Grad school for a Masters in Applied Economics and a Masters Minor in Statistics. The job market just plain sucks.
Your attitude will lead you to success.... in time.
Best of luck to you...
Most wholeheartedly agree! In fact, this dismal economy may be the force for correction in the educational liberalism washed into the brains in our yutes by showing them that nothing is guaranteed, and that hard work is a good start to getting them through this mess. However, many will fall by the wayside and vote for Odumbo.
“There’s a good 15% of the electorate who would not vote for a Democrat for anything. Now it’s time for Republicans to figure out how to get those guys to vote FOR a Republican.”
A good start would be a well publicized commitment by Republicans to significantly reduce the massive debt burden that’s been dumped on future generations by the Obama, Pelosi, Reed and their Democrat foot soldiers.
I forgot to add that I am interested in ALL Data Analysis, not just investment/banking analysis. I love stats.
However, all of these jobs are being taken by people who are qualified for the higher-level jobs but cannot get them due to even more higher-qualified individuals taking THEIR jobs. It’s a vicious cycle.
When my generation graduated from college with a B.A. or a B.S., almost all of us ended up working in so-called bad jobs. It was expected! You built up your skills on those jobs. These kids want to enter as CEO and it ain’t happening.
Why don’t you just get a job as a bartender? Or a waiter?
I want to enter as an entry-level data analyst. I expect a salary in the $40-50,000 range commiserate with my skills. I want the opportunity for advancement if I work hard and prove my worth. I want to be on the management/executive track by the time I’m 30.
How would I accomplish this? Through working my butt off for however many years it takes to prove my worth.
Yet no employer will even consider me for a job because I don’t have 2+ years of experience for a basic entry-level data analysis job.
Instead I get offered “sales” jobs where I can “make my own living and be my own boss”.
Life is hard but this is friggin ridiculous. Why did I go to college and work my BUTT off learning statistics and mathematics when I could have bypassed it all and still be qualified for the same jobs?
Failure to research the employment potential for one's chosen education and career path should be a red flag screaming "STUPID" to any prospective employer.
You’re being satirical, right? You couldn’t possibly be serious, could you???
Obama loves poor people so much, he made millions moreThat's true of all socialists. The venerate poverty and spread it, with the poison gas of their socialism.
And have you researched this, and calculated the probability for this absurd chain of events?
Well said, at least not hiring in this country. The GOP is content to blame it on Obama but it started some time ago when employers started to export jobs throughout the world. Most things you buy are made by employees elsewhere. Apple makes its IPad in China.
We have to find a way for Americans to compete in the world's Darwinian economy before we descent into another 3rd world country with labor rates and pollution. It isn't just taxes, GE pays no taxes. It isn't just unions, IBM is not unionized.
Wanna make $120,000 a year with no college degree or experience required?
There MIGHT be a job for you operating a Texas Wireline rig in Williston, North Dakota; America’s natural gas boomtown.
All you have to do is:
A) Have a commercial drivers license.
B) Be able to pass a drug test.
That’s it! Of course you have to have the mental and physical stamina to work 56 straight hours but that’s no different from being a medical intern at your local hospital. And the compensation is as much as a medical doctor without the endless years of schooling or the sky high student loan debt.
All one has to do is be willing to WORK.
Yes, I’ve researched this. There is a huge demand for data analysts due to the large amount of data that companies produce and the valuable conclusions that can be derived from such data.
In regards to the rest of your comment: The majority of people I know and associate with were/are on this track and they all started at similar if not greater salary ranges. The older ones (50’s and above) all have the same advice: If you’re not on the management/executive track by the time you’re 30, you ain’t going anywhere kid.
For a more concrete anecdotal example: a personal friend of mine is 27 and a VP of fixed income at a major bank. Another friend is currently well on his way to becoming VP by the time he’s 26.
Yes, it’s possible. Also, given that the average starting salary of a college graduate is $50,000+, I would assume that my expectations aren’t exactly crazy.
For further contemplation: If I started at $30K, I would be making $40K by the time I’m 30 and nowhere near management track most likely. Essentially, I’m screwed.
So yes, I do have expectations but I am willing to back up my expectations through hard work and results. After all, I don’t expect to get paid if I am not producing.
Edit: The data analysis jobs are being taken by individuals with 2+ years of experience due to the vicious cycle that I mentioned above.
I’ve considered this route however there is one major problem:
Mathematical skills degrade if not used and while working in this job I would be practicing my skills. Therefore, I would become quite rusty and may not be qualified to work in a more rigorous field such as an analyst.
It’s a catch-22.
With your background if you went into programming/design you would make a killing. Learning programming skills would take time but worth it. It is a lot of work and many are not willing to to do that.
Its bull, but he an't move onto higher engineering courses until these stupid prereqs are fulfilled.
What programming languages are most in demand? As I stated, I know some SAS but otherwise haven’t had the time nor inclination to learn computer programming.
Of course, if you pursued a degree in "Womyn's Studies" or "Art History" or some such, you probably weren't going to find a job in your chosen profession anyway.
Liberal Arts requirements are there for you to repair your GPA after a semester of Econometrics, Applied Diff Eq, etc.
Plus you meet some cute girls! ;)
In liberal arts courses, my brother says stupid girls.
That’s very true but they provide so much entertainment when they start harping about the latest social “injustice”!
You need to download an IDE(Interactive development Environment) Eclipse is a good one. Then buy a beginner java book and do one chapter per week. "Teach Yourself Java" is a good one. You should also become familiar with Object Oriented Design but that can wait. Just remember there is no end to the learning. I am 53 and I am learning the Struts framework now.
I think I’ll do that. It can never hurt to broaden my range of skills.
1 in 2 college graduates shouldn’t have wasted their time in college... let the great and painful correction begin.
Yup. Employers aren’t looking for people with a degree in Bovine Scatology.