2011 College Graduates Find Job Market Bleak (56% down from 90% employed)

I am completely disgusted with many of the ignorant posts about people being uneducated or too lazy to find work, so I did something about it and compiled a few articles to better detail the situation many recent grads (like myself) are experiencing.

Many With New College Degree Find the Job Market Humbling
www.nytimes.com...

The individual stories are familiar. The chemistry major tending bar. The classics major answering phones. The Italian studies major sweeping aisles at Wal-Mart.

Now evidence is emerging that the damage wrought by the sour economy is more widespread than just a few careers led astray or postponed. Even for college graduates — the people who were most protected from the slings and arrows of recession — the outlook is rather bleak.

Employment rates for new college graduates have fallen sharply in the last two years, as have starting salaries for those who can find work. What’s more, only half of the jobs landed by these new graduates even require a college degree, reviving debates about whether higher education is “worth it” after all.

Of course, these are the lucky ones — the graduates who found a job. Among the members of the class of 2010, just 56 percent had held at least one job by this spring, when the survey was conducted. That compares with 90 percent of graduates from the classes of 2006 and 2007. (Some have gone for further education or opted out of the labor force, while many are still pounding the pavement.)

Even these figures understate the damage done to these workers’ careers. Many have taken jobs that do not make use of their skills; about only half of recent college graduates said that their first job required a college degree.

Lazy bums! Get a job!

2011 College Grads Moving Home In Record Numbers, Saddled With Historic Levels Of Student Loan Debt
www.huffingtonpost.com...

NEW YORK -- While one's college graduation is normally a time of jubilation, Megan Muller can more than relate to the sense of defeat that now hangs over the class of 2011.

In addition to the normal job worries, the class of 2011 is saddled with a dual set of other obligations: moving home and paying back debt.

A study conducted by Twentysomething Inc., a consultant firm specializing in young adults, reports that 85 percent of this year’s graduating class will be forced to move back home. Meanwhile, 2011 graduates also face historic amounts of student loan debt -- or an average of $27,200 for graduates that borrowed money in order to finish school.

“We tell people they need to get a college education in order to succeed, but then we put all of these roadblocks in their way by then making it practically impossible to repay what you owe,” says Michael D. Hais, who, along with Morley Winograd, coauthored the forthcoming book “Millennial Momentum: How a New Generation Is Remaking America.” The two men describe the number of 20-somethings moving home as “historically unprecedented.”

Andrew Sum, a professor of economics at Northeastern University, couldn’t agree more. “This is our country and this is our future and we’re failing them,” says Sum, who reports a record number of 2011 graduates returning home to their parents' nest. As a consequence, Sum sees young graduates not only delaying the formation of their own households, but consequently unable to achieve a desirable standard of living.

Apart from the longer-term consequences associated with moving home, Sum’s data reveals another concern altogether. Namely, that young people face high amounts of debt and a lack of decent jobs.
Using data from the U.S. Bureau of Labor Statistics, Sum reports that as many as 50 percent of college graduates under the age of 25 are underutilized, meaning they’re either working no job at all, working a part-time job or working a job outside of the college labor market -- say, as a barista or a bartender.

Clearly we have too strong a sense of entitlement to take available work . . .

So all you genius keyboard warriors here is a website for k-12 children to help you understand the economy a bit better.

Econedlink economics and personal finance for k-12

Focus on Economic Data
U.S. Employment and the Unemployment Rate, September 2, 2011
www.econedlink.org...

Have a nice day.

On this topic I have first hand, my daughter is in that group that even with two bachelors degree could not find a job on her field.

She works in a bank for just a few dollars over minimum wages, she had to move back into our home and now she is getting to her neck on debt with students loan to get another degree as a nurse, in the hopes that she will get a better paid job next.

Her first degrees were on Biology and cell stem research, she had to compete with foreign students from India and Pakistan for grants to do research, she lost all the ones she applied for to these two groups of foreign students.

Yes America the land of the opportunity only if you are a foreign students like in my daughters case.

But then again, she most be lazy, uneducated and just wants to leach the system.

The irony.

Not to sound like a prick, but get a degree in a field in which people are actually hiring (and yes, they do exist) or acquire a skill that’s in demand.

Some newly minted degree holders, however, will cost even more. Chemical-engineering graduates saw their average salary offer increase 1.8% to $66,058, while offers for grads with computer-related degrees jumped 9.6% to $63,760, NACE reports. Computer-engineering grads gained 4.1%, bringing their average to $62,849.

The priciest recruits? Petroleum-engineering grads are now receiving offers averaging $82,740, or 7.1% more than last year, making these folks the highest-paid majors in the survey.

I graduated in 2002 and things were rough then for a graduate, I cannot imagine how it is now. I sympathize with these kids, my sister is one of them and she's already in debt before she can even hit the ground running.

The people that call these kids that have to deal with this crap "lazy" are seriously moronic. A lot of these kids are working long hours while going to school full time just to get by, bust their asses in the classroom and they will end up with a huge bowl of # to eat...and you know what some idiot will tell them?

"Hey kid! I know you're about $100,000 in debt, but work hard at McDonalds(since you can't find a job in your field...unless you travel to India) and I'm sure things will break even for you eventually!"

Pure idiocy. The other shoe will drop soon enough, and when it does we'll see who truly is lazy in America.

Originally posted by SirMike
Not to sound like a prick, but get a degree in a field in which people are actually hiring (and yes, they do exist) or acquire a skill that’s in demand.

Some newly minted degree holders, however, will cost even more. Chemical-engineering graduates saw their average salary offer increase 1.8% to $66,058, while offers for grads with computer-related degrees jumped 9.6% to $63,760, NACE reports. Computer-engineering grads gained 4.1%, bringing their average to $62,849.

The priciest recruits? Petroleum-engineering grads are now receiving offers averaging $82,740, or 7.1% more than last year, making these folks the highest-paid majors in the survey.

1)

Not to sound like a prick

Fail . . .

2)

get a degree in a field in which people are actually hiring (and yes, they do exist) or acquire a skill that’s in demand.

So now we are supposed to be fortune tellers to have entered the right job market at least 4 years ago without having any real world economic experience?




You obviously did not even read the first article . . .

Originally posted by MasterGemini
So now we are supposed to be fortune tellers to have entered the right job market at least 4 years ago without having any real world economic experience?.

edit on 4-10-2011 by MasterGemini because: (no reason given)

It shouldn’t take clairvoyance to realize that getting an overpriced degree with little or no job prospects is a bad career move.

Originally posted by SirMike

It shouldn’t take clairvoyance to realize that getting an overpriced degree with little or no job prospects is a bad career move.

You do realize that there was an insane amount of jobs that bled from this country just under THREE years ago?

Originally posted by SirMike

Originally posted by MasterGemini
So now we are supposed to be fortune tellers to have entered the right job market at least 4 years ago without having any real world economic experience?.

edit on 4-10-2011 by MasterGemini because: (no reason given)

It shouldn’t take clairvoyance to realize that getting an overpriced degree with little or no job prospects is a bad career move.

I suggest you actually READ THE ARTICLES before you come back and comment.

reply to post by SirMike


What they do not tell you in the statistic is that most of the companies in the tech jobs bring workers from oversea using H1B visas, they can tell that their companies are hiring but they do not have to tell you who they are hiring.

This is an example of the web site advertising the H1b visas,

Online Database of American Employers for International Professionals

Most authentic & dependable information. Source: U.S. Federal Government. Guaranteed. Orders received before 9 PM EST are processed the same evening.

Our focus - You are at the right place if you are an international professional (experienced or not) seeking employment in the US with sponsorship for H-1B.

You don't need to be experienced to get a job in the US over and America skill worker because the govenment helps bring you to the US for work.

www.h1visajobs.com...

H-1B Visas Less Than 0.1 Percent of U.S. Workforce: Report

Is there an actual technology skill shortage in the United States, or do companies simply want less expensive H-1B visa workers to complement their largely American-based workforce? A nonprofit immigration advocacy group looks at some of the numbers and attempts to demystify the issues, as it pushes for more visas and green cards. Opponents say if there were a real technology shortage, wages for technology would be rising. They are not.

Is cheaper to bring skilled foreigners from oversea than using America skilled ones.

www.eweek.com...

Our own government has become a traitor against its own citizens.

Originally posted by marg6043

Our own government has become a traitor against its own citizens.

And the same ones that "hate government" use every dishonest trick in the book to defend government, aka the banks and the corporations that have pissed on the populace while throwing boiling oil on unemployed and young americans who they think are lazy.

This won't end in revolution, it is clear now that civil war will be in this country's future with so many alleged Americans siding with pigs against their own people.

So be it.

Originally posted by SirMike

It shouldn’t take clairvoyance to realize that getting an overpriced degree with little or no job prospects is a bad career move.

But in some cases... getting an overpriced degree in something that has little or no job prospects actually works out. And it certainly helps if the degree is from a well known academic institution.

Look at me, I majored in philosophy and theology. Sure I can't do anything in my field until I at least get a masters, but I've been finding tons of legal and office jobs to tide me over in the meantime.

It could be that I just lucked out, though. I'm not discounting that possibility.

I couldn't begin to imagine how tough it is for a new graduate right now. I went the apprenticeship route so I was making money while learning instead of going into debt because at the time I had that oppurtunity.

But I feel bad for the younger generation because I see all my friends/younger brothers friends that believed in the Economy and in Schooling, now coming into a world where the only thing that matter is their Debt not their Education.

The problem is these same kids/people could be happy with what money they make if they had a minimum wage job. But the amount of money that gets deducted from their checks because of their school loans/taxes makes living impossible.

I know there is not enough jobs for everybody to work where they want which is the sad truth of overpopulation but there is always manual labor jobs. An I'd try and sue all colleges that guaranteed me work upon graduation if they didn't produce work for me but that's just a thought.

reply to post by illuminatislave


Yes easily you can get into thousand of dollars on debt trying to get a degree, I can not believe that one poster in another thread believes that the government should go after those students that can not pay for their loans because unemployment, he or she said is their fault they go into debt.

But isn't the government using our tax dollars in stimulus to create jobs? because in order to create jobs we have to increase the national debt and spend more tax dollars.

Again, the irony.

Originally posted by xFloggingMaryx

Originally posted by SirMike

It shouldn’t take clairvoyance to realize that getting an overpriced degree with little or no job prospects is a bad career move.

But in some cases... getting an overpriced degree in something that has little or no job prospects actually works out. And it certainly helps if the degree is from a well known academic institution.

Look at me, I majored in philosophy and theology. Sure I can't do anything in my field until I at least get a masters, but I've been finding tons of legal and office jobs to tide me over in the meantime.

It could be that I just lucked out, though. I'm not discounting that possibility.

Oh you didn't know women are kicking mens' asses this recession?

As Layoffs Surge, Women May Pass Men in Job Force (2009 and still going strong)
www.nytimes.com...

With the recession on the brink of becoming the longest in the postwar era, a milestone may be at hand: Women are poised to surpass men on the nation’s payrolls, taking the majority for the first time in American history.

The reason has less to do with gender equality than with where the ax is falling.

The proportion of women who are working has changed very little since the recession started. But a full 82 percent of the job losses have befallen men, who are heavily represented in distressed industries like manufacturing and construction. Women tend to be employed in areas like education and health care, which are less sensitive to economic ups and downs, and in jobs that allow more time for child care and other domestic work.

Women gain as men lose jobs
www.usatoday.com...

Women are on the verge of outnumbering men in the workforce for the first time, a historic reversal caused by long-term changes in women's roles and massive job losses for men during this recession.

Women held 49.83% of the nation's 132 million jobs in June and they're gaining the vast majority of jobs in the few sectors of the economy that are growing, according to the most recent numbers available from the Bureau of Labor Statistics.

That's a record high for a measure that's been growing steadily for decades and accelerating during the recession. At the current pace, women will become a majority of workers in October or November. The data for July will be released Friday.

Men, Women and the Great Recession
economix.blogs.nytimes.com...

Men beginning to recover from recession, still lag behind women
dailycaller.com...

According to calculations from University of Michigan economist Mark Perry, from the start of the recession in late 2007 to January 2011, men have lost nearly twice as many net jobs as women. Of the 7.7 million job losses, 5.1 million were jobs once held by men (66.1 percent) while 2.61 million (33.9) were jobs once held by women. For every 100 jobs lost by women since December 2007, men have lost 195 jobs.

But if you were a woman who lost her job during the recession you are having a bit of trouble also.

Women Recovering From Recession At Significantly Slower Pace Than Men, New Study Shows
www.huffingtonpost.com...

Although the recession initially hit men hard, it's women who have been struggling the most to get back on their feet, according to a report released Monday.

Men lost more jobs than women did in the Great Recession, but their unemployment levels have been steadily decreasing over the past year, the study shows. Women, on the other hand, are facing a stalemate and regaining very few jobs, resulting in a significantly higher percentage of women who continue to have deep concerns about their economic security.

"Women seem to have remained in the recession a year and a half after its end, and in the year since the survey was completed, women have failed to share the same gain afforded by the weak job recovery," the report says.

The report, conducted by the Institute for Women's Policy Research, surveyed 2,746 American adults 18 years and older from September to November 2010. It was "statistically adjusted" to accurately represent the U.S. adult population.

Good Luck!

reply to post by xFloggingMaryx


I agree, but are you still living at home?, like my daughter even when she is working on a job that is not in her field, she doesn't make enough to live on her own. She tried but it failed when she realized that she was to starve in order to keep up with the bills.

Sadly wages has decreased in the nation but the cost of living have not actually after the 2008 crisis renters started to increase rates due to the demand of rental apartments when people lost their homes to bankruptcies, one of the reason my daughter could not afford her apartment anymore.

currently i'm going for a physics degree because i'm very passionate and somewhat gifted in the sciences, but sadly i don't think it will be easy for me to find a job. maybe a teaching job somewhere, but i don't really like being in front of people.

who needs a theoretical physicist right now? *crickets* oh well..to be honest, i don't think america or the world will last long enough as it is for me to complete my degree anyways.

reply to post by marg6043


Yeah, I am living at home. My mother has a condition, so I have to stay at the house in order to handle groceries, trash, her meds, etc. She doesn't have a license or car, so I have to handle everything. (Even during college, I lived at home.)

Also, I have 4 dogs... if I leave, no one would take care of them. Plus, at my house, I have a big fenced-in backyard. It's a lot easier having dogs when they can just hop out the dog door and run around whenever they want (within reason).

It's weird. When I think of moving out, I don't like the idea. My boyfriend wants me to move in with him, figuring my mother's friends would take care of her... but I have my priorities.

It could be because I've lived in the same house my whole life. It's my home, in every sense of the word. So I don't like the idea of moving someplace new.

reply to post by xFloggingMaryx


I understand, I guess you have to take care of your mom, perhaps your boyfriend can compromised and move in if that is what you will like.

I love my daughter and love having her at home, but eventually she has to do with her life, her boyfriend owns a home as he makes very good money in his job as a Mechanical Engineer, but my daughter wants to be able to keep her Independence if they get marry, in other words she doesn't want to depend on him financially.

I don't blame her.

Originally posted by SirMike
Not to sound like a prick, but get a degree in a field in which people are actually hiring (and yes, they do exist) or acquire a skill that’s in demand.

Some newly minted degree holders, however, will cost even more. Chemical-engineering graduates saw their average salary offer increase 1.8% to $66,058, while offers for grads with computer-related degrees jumped 9.6% to $63,760, NACE reports. Computer-engineering grads gained 4.1%, bringing their average to $62,849.

The priciest recruits? Petroleum-engineering grads are now receiving offers averaging $82,740, or 7.1% more than last year, making these folks the highest-paid majors in the survey.

See, I knew computers were the way to go, I am glad I decided to get my degree in Computer IT administration I also did a lot of research to see what field was expected to grow. However they mention the medical field but I know two graduates of degrees in medical fields (CNA) and neither of them found jobs in their field one is babysitting at home and one is working at a car dealership. Gotta love the American Dream now. Oh I also was a medical field too ( way back in 1991 I was fresh out of the Army AIT for this), EMT in the Army and couldn't find civilian work unless it was Volunteer poopoo on that! That was before this economy tanked! The medical field was not from what I saw that promising at all unless you got your rN or became a doctor.

reply to post by ldyserenity


The computer science majors were the only people I know getting employed.

Of course they all had full ride scholarships and so move debt free directly into 80k a year positions, very good major to have currently. (All four relocated to Seattle WA)

Go you! Good luck.

PS

You better bust your ass if you want to out compete the indians and chinese competing for the same positions and for less pay though.