1 in 2 new graduates are jobless or underemployed
But keep on believing that “everyone should go to college” crap. College is not for everyone. Most people would be better off saving the 100k of debt and going into a trade. Trades will always be in demand when college graduates are facing near 50% unemployment.
You shouldn’t be going into massive debt just to go to college. Before government started subsidizing college students could work through college and graduate relatively debt free. That’s how it should work. But, like always, when government intervenes it just makes more bureaucracy and into makes it more expensive.
It is only common sense that colleges were going to raise tuition rates when the government started guaranteeing student loans. This is what big government gets you. Massive debt.
About 1.5 million, or 53.6 percent, 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 percent, 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.
Broken down by occupation, young college graduates were heavily represented in jobs that require a high school diploma or less.
In the last year, they were more likely to be employed as waiters, waitresses, bartenders and food-service helpers than as engineers, physicists, chemists and mathematicians combined (100,000 versus 90,000). There were more working in office-related jobs such as receptionist or payroll clerk than in all computer professional jobs (163,000 versus 100,000). More also were employed as cashiers, retail clerks and customer representatives than engineers (125,000 versus 80,000).
According to government projections released last month, only three of the 30 occupations with the largest projected number of job openings by 2020 will require a bachelor’s degree or higher to fill the position — teachers, college professors and accountants. Most job openings are in professions such as retail sales, fast food and truck driving, jobs which aren’t easily replaced by computers.
College graduates who majored in zoology, anthropology, philosophy, art history and humanities were among the least likely to find jobs appropriate to their education level; those with nursing, teaching, accounting or computer science degrees were among the most likely.
(Source: moralanarchism)
