College Grads Face Difficult Job Market
Recent college grads continue to face what may be one of the most difficult job markets since the 1930’s. Not only is the job market grim for college grads, but many also begin their job search weighed down by student loan debt that cannot be forgiven, postponed indefinitely (nor done so for free). The June 12, 2012 issue of USA Today reported that the , “The non-partisan Economic Policy Institute called their labor market “grim” and said that over the previous year, unemployment among college graduates younger than 25 had averaged 9.4%, with an additional 19.1% in jobs for which they were overqualified.”
College graduates typically are at the apex of their confidence in life, for many is only further enhanced by their college degrees, can create the perception in the minds of many that they their right to a job is sacrosanct. They have done all they have been asked-with many excelling beyond the expectations set for them-only now find themselves seemingly helpless-something many are wholly unaccustomed to feeling-as they continue to search for gainful and meaningful employment. So what should be a time to celebrate their ascendancy into their place in productive society, instead finds them living at home, saddled with debt and depressed about future job prospects. For many though depressed as they are in the short term about their prospects maintain an optimism about their future. will get better in the future. Again USA Today:
A Harvard University Institute of Politics survey in March and April found that more than three out of four college students expect to have a somewhat or very difficult time finding a job. And 45% expect student loans to affect their financial circumstances “a lot” after they graduate. Their pessimism is based on the experience of the 20-somethings just ahead of them. A Rutgers University study this spring of 444 graduates who received bachelor’s degrees from 2006 to 2011 found that 51% were working full time. The rest were in graduate school, unemployed, working part time or no longer in the job market.
If you are a recent college graduate, or soon to be recent graduate, now is the time to define a plan for life after college, adjust your plan as circumstances warrant, and by all means remain patient, but not complacent. Finally, never be too proud to seek support from others as you face a difficult job market-one that is not of your making-that threatens undo your sacrifice and dreams.
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