When the newest unemployment report was released the national average had actually dropped by two-tenths of a percent. At least it’s progress, but recent college graduates were one group of people that was not excited. The unemployment rate amongst age 20-24 college graduates was up to 10.6%–the highest it has been since 1983.
As mentioned in the post So What if You Have a College Degree? some attention was paid to why new college graduates are having difficulty when it comes to the job search after they finish school. The deflated value of the college degree is the reason primarily discussed thus far, but there are other factors related to the economy and job industry at large.
One obvious factor is that there are many industries with fewer jobs, but with many of the jobs that are still available, hiring bonuses are disappearing, and it seems likely that entry level salaries will decrease. Graduates one year are competing against graduates from the previous year for the same jobs, and fewer of the more experienced graduates have not yet advanced in their own careers to open up more entry level positions.
With more graduates than ever unsuccessfully searching for work, there is one possibility of hope. As many graduates will likely be willing to take lower pay as long as they can have some job security, corporate giants may pick up on this demographic’s employment plague and pick up as many workers as they can. It may be in a college graduate’s best interest to go ahead and look to large companies for employment before this happens, and get in while the higher pay is available for the entry level position.
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Finding Jobs is More Difficult for College Grads Than Ever [link to post]
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Finding Jobs is More Difficult for College Grads Than Ever … [link to post]
– Posted using Chat Catcher