May 8, 2013

Weekly RoundUp: Graduation and Employment

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As college seniors finish their final exams, pack up their rental houses, and bid their friends for the last four years good-bye, they may be experiencing some apprehension about what comes next. Though their fears of unemployment are not altogether unfounded, there is some hope. According to a recent story in The Atlantic, “Young bachelor’s holders are hurting. But they’re still doing better than high-school grads, and their crisis has been vastly overstated.”

Here’s a look at some news coverage detailing the job prospects of recent college grads.

Life Is O.K., if You Went to College – The New York Times

“Despite all the questions about whether college is worth it or not, college graduates have gotten through the recession and lackluster recovery with remarkable resilience.

The unemployment rate for college graduates in April was a mere 3.9 percent, compared to 7.5 percent for everyone else. And among all segments of workers sorted by educational attainment, college graduates are the only group that has more people employed today than when the recession started.”

Job Picture Looks Bleak for 2013 College Grads – CNBC
“Even as new numbers show the overall employment picture improving—or at least not getting worse—new college graduates may not be so lucky when it comes to finding work.

A survey released last week from the National Association of Colleges and Employers (NACE) reported that businesses plan to hire only 2.1 percent more college graduates from the class of 2013 than they did from the class of 2012.

That’s way down from an earlier NACE projection of a 13 percent hiring rate for 2013 grads.”

 

The Class of 2013: Young graduates still face dim job prospects – Economic Policy Institute

“The weak labor market has been, and continues to be, very tough on young workers: At 16.2 percent, the March 2013 unemployment rate of workers under age 25 was slightly over twice as high as the national average. Though the labor market is now headed in the right direction, it is improving very slowly, and the prospects for young high school and college graduates remain dim.”