Posted on 10/12/2011 6:49:54 AM PDT by SeekAndFind
I started writing about tough times for young college grads in 2006, when I was at BusinessWeek. Seems like a different day and age, doesn’t it? Since then things have only gotten much much worse. By my latest calculations:
These figures are for full-time workers, ages 25-34, with a bachelor’s degree only. See the charts below.
I want to ask an economic question, a political question, and a policy question. First, no one has given me a good explanation yet of why young American college grads should have been hit so hard. Is there increased competition with young college grads around the world? Are new college grads lower quality than their predecessors? Has information technology reduced the need for young grads? I really would like to know.
Politically, Obama captured the imagination of this group in 2008. Are young college graduates going to sit out the next presidential election in disgust? Is there any candidate that can excite them?
Finally, if we were going to design some economic policies to help young college grads, what would they be?
Many of us oldsters from the 60s actually sought military service after graduation, which is the best first job anyone can have. Doesn’t even occur to todays “grads” in Womyn’s Studies or Social Justice. The Bachelor’s Degree with Individual Concentration at UMass and many other schools literally lets someone goof-off for four years, getting credit for going to rallies and having bullshitting sessions with far-Left professors and then be rewarded with a BA in ‘whatever.’ I feel certain that such grads, even if they wanted to, would be ineligible for any US military officers’ programs.
Two reasons. The economy is not growing. Blame Bush, blame Obama, blame Congress, blame your mother, (personally I would blame all of them —maybe not Mom—for meddling too much and not letting the market sort itself out) but unless the economy is growing new jobs are not being added, new grads have fewer and fewer places to go.
Second reason, too many old farts (like me) that keep working. But hey, we enjoy it and if the economy was growing, the kids could take the new jobs.
This is purely anecdotal, but I do believe there is data somewhere to back it up.
I think the answers to your questions depends a lot on the type of degree. Degrees in healthcare, engineering, and other hard sciences are probably doing reasonably well in the workplace.
"Softer" degrees, even those undergraduate degrees in business, may have a harder time because they're fewer available jobs right now. For liberal arts' undergraduate degrees with little direct application into business or a specific industry--Arts, Music, Theatre, History, Gender, Cultural and other non-specific degrees are probably struggling now. This is especially true for students graduating without internship or other practical experience.
Teaching degrees--Elementary Education and others--are tough because these are public sector jobs. All aspects of governments (outside of Obama's cabinet) are struggling with their budgets, and I can't see new, permanent jobs being created here.
It would be interesting to see the demographics of college degrees in the aggregate, and the breakdown between each degree program.
Is the global economy making it tougher on today's graduates? Is a global workforce competing and providing higher quality? Perhaps not higher quality, but certainly at a lower cost. US businesses are outsourcing those aspects of their business where it makes sense to do so, and that's probably impacting today's graduates.
In the end, it's a perfect storm of bad news for many graduates. Politics are unfortunately, shaping the business climate. I don't see any short-term fix to that. This is true both inside and outside the US. Politics is driving business to do certain things, and employers have to react, which is in turn, affecting employees.
all you need to know about jobs and opportunity in USA...basically the better off government is...the worse off we all are..
The story of American jobs and labor is deeply intertwined with predatory Federal, state and local taxation and regulation....
South Koreans sleep soundly on their border with NORKS because of American Taxpayer dollars and the American GI.
Why can’t Texans, New Mexicans, Arizonans and Californians?....BECAUSE
Illegal immigration is THE KEY to the perpetuation of the status quo in DC......
Predatory tax and regulatory policies-actions that basically serve to perpetuate and grow governments-leave what business is left in the country seeking disposable labor.
Illegal Labor is the Feds out for preserving the status quo regarding Taxes and Regulation. Interestingly, that is WHY the Feds encourage in-state tuition etc for illegals under-the-table -their presence providing disposable labor allows Federal, State and local regulatory and tax excess in the status quo to continue
Immigration is the ultimate litmus test as to the candidates in question commitment to meaningful regulatory and tax reform. If they are wishy-washy on the subject...they have no real intent to disturb the DC status quo...no matter how big their cowboy hat and six-gun.
Real”leadership” is that which will place Flyover Country’s interest ahead of the Feds....haven’t yet seen anything meaningful anywhere from anybody to indicate that might happen. We have just one more election cycle to make that happen via rule of law. Otherwise its the end of the run for America.
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