AP: Half of New College Grads Jobless or Underemployed
Half of recent college graduates are either unemployed or working at jobs that don’t fully use their skills and knowledge, an analysis of government data by The Associated Press has found. Young adults are, instead of putting their degrees to full use, increasingly parsing together lower-paying jobs in an attempt to keep up with student loan payments and cost of living. From the AP:
Opportunities for college graduates vary widely.
While there’s strong demand in science, education and health fields, arts and humanities flounder. Median wages for those with bachelor’s degrees are down from 2000, hit by technological changes that are eliminating midlevel jobs such as bank tellers. Most future job openings are projected to be in lower-skilled positions such as home health aides, who can provide personalized attention as the U.S. population ages.
Taking underemployment into consideration, the job prospects for bachelor’s degree holders fell last year to the lowest level in more than a decade.
“I don’t even know what I’m looking for,” says Michael Bledsoe, who described months of fruitless job searches as he served customers at a Seattle coffeehouse. The 23-year-old graduated in 2010 with a creative writing degree.
Image: Graduation caps, via Shutterstock