Photo: Flickr / RonaldWong
According to the centre of labour Market Studies at Northeastern University just one in two recent graduates are finding jobs.From the AP:
“Simply put, we’re failing kids coming out of college,” said [Andrew Sum, director of the centre for labour Market Studies at Northeastern University], emphasising that when it comes to jobs, a college major can make all the difference. “We’re going to need a lot better job growth and connections to the labour market, otherwise college debt will grow.”
About 1.5 million, or 53.6 per cent, of bachelor’s degree-holders under the age of 25 last year were jobless or underemployed, the highest share in at least 11 years. In 2000, the share was at a low of 41 per cent, before the dot-com bust erased job gains for college graduates in the telecommunications and IT fields.
Out of the 1.5 million who languished in the job market, about half were underemployed, an increase from the previous year.
The problem of college graduates’ inability to find jobs is compounded by exploding student debt loads.
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