Class of 2013 faces grim job prospects

Yahoo Finance ^ | April 10, 2013 | Annalyn Kurtz

[Hojczyk]

The Class of 2013 will face an "extremely difficult" job market when college students graduate in the months ahead, according to a new research report.

Unemployment remains high for young college grads. For those who will find jobs, many will probably have to settle for low-level positions, the Economic Policy Institute said Wednesday.

The unemployment rate for recent college grads between the ages of 21 to 24 has averaged 8.8% over the last year, according to Labor Department data.

Once you also include young grads who are working part-time for economic reasons, and those who have stopped looking for a job in the last year, the so-called "underemployment rate" is a whopping 18.3%. Sure, the job market has improved during the past few years. But both these rates remain higher than pre-recession levels.

And young graduates with jobs may be questioning whether college was worth it.

As of 2012, about 52% of employed college grads under age 25 were not working in jobs that require a college degree, said Andrew Sum, an economist at Northeastern University. That's up from 47% in 2007 and 40% in 2000.

But EPI said the job problem for recent college grads stems more from weak demand for goods and services, rather than a lack of the right education or skills.

[kevao]

Not a problem. With the full implementation of ObamaCare in January, these new grads can dedicate their lives to the arts now.

[VerySadAmerican]

The headline should be LARGEST GROUP OF OBAMA SUPPORTERS WILL FACE GRIM JOB PROSPECTS.

[forgotten man]

It is ironic that the groups who supported 0bama the most, including young people and blacks, are hurt the most by his policies. Be careful what you ask for. You might get it.

[SoCal Pubbie]

So does the class of 1985.

[DuncanWaring]

How can that be?

The unemployment keeps dropping!!!

[Maine Mariner]

Job prospects for the seniors at the Maritime College in Maine seem to be getting good solid offers. Students with degrees in Marine Engineering, Power Engineering, International Business and Logistics, and Small Vessel Operations are getting at least one offer maybe two. Students majoring in marine biology and marine science not so good. Starting salaries-high $40,000 to low $90,000 (engineers working 7 days a week for about 8 months (4 months on a ship two months off.

[falcon99]

I think this is good. There should be consequences for your vote. If you are stupid enough to vote for the party/individual who is destroying the economy and jobs, then you deserve to be affected by that vote.

[max americana]

Hopeychangey 2013 style! I’m sure their liberal arts courses in lesbian studies will have employers lining up.

[VerySadAmerican]

It’s more karma than ironic.

[Conserev1]

Welcome to life!
Kids!

[Iron Munro]

At least most of them got to vote for Obama last year.

So years from now they will have a tale to tell their kids as they sit around the campfire eating their roadkill dinner.

[Freedom_Is_Not_Free]

The college grads will have a rough time for a while. They will benefit as baby boomers continue mass retirement. Meanwhile those with no college will still not be able to compete for those jobs.

College IS worth it. Let me clarify. A Bachelor of Science degree is worth it. If your kid just takes Philosophy or Women’s Studies, then no college is not worth it. Graduates from the college of arts are going to struggle for a long time to come.

Graduates from the College of Sciences with a Bachelor of Science, will do just fine in the long run and just need to hang in their in this trying time. I can’t begin to imagine their frustration, and I graduated into the “Reagan recession” and took 1.5 years to finally land a job in Civil Engineering.

If you graduate with a BS degree and hang in their as the baby boomers retire, it is eventually going to pay off.

If you graduate from the college of arts, even McDonalds hires from time to time.

[MNDude]

So the most entitled generation in the history of USA will also be those to get the least compared to previous generations. I imagine there’s going to be some very frustrated Millennialists soon.

[Jack Hammer]

Well, the college kids love Obama.

Make your bed, then sleep in it.

[definitelynotaliberal]

A woman on a fitness board that I frequent had been rejoicing the re-election of 0bama. She’s newly a citizen, and it was the highlight of her life to have voted for him. Finally, we were going to be civilized, have public health.

She lamented yesterday that she’s being audited by the IRS and will likely have to pay $5,000. She’s self-employed, she said, and only earned $20,000 last year. Other women sympathized with her and observed dryly that it’s as if the gov’t doesn’t want people to work. They declined to identify whose gov’t they were talking about or who elected it.

[cynwoody]

With the full implementation of ObamaCare in January, these new grads can dedicate their lives to the arts now.

And maybe earn some spare change designing liquor bottle labels.

[bgill]

Grim employment prosects for graduates - they say that every year.

[hal ogen]

To those soon-to-be-graduates who voted for nobama, did not vote or who are LIBs ...Bwahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha. Maybe you can go “on disability” or, at least, get a free nobamaphone.

[Cyber Liberty]

And it’s just as true every year. Screw ‘em, it was tough when I was fresh out, so it’s their turn to pay the dues. Somewhere there is a gnome playing the world’s smallest violin, with music that could make a comedian cry a desert full of tears.