The College Graduate’s Incredibly Shrinking Job Market
Finals are just now concluding in most major colleges and universities. While that may mean a breather for some students it also means the end of the line when it comes to stability. For at the moment, the world isn’t too kind to those who stuck it through Sallie Mae, meal plans and dorms for a degree and a well paying job, especially those who just got their caps and gowns in 2012.
The college class of 2012 is in for a rude welcome to the world of work.
A weak labor market already has left half of young college graduates either jobless or underemployed in positions that don’t fully use their skills and knowledge.
Young adults with bachelor’s degrees are increasingly scraping by in lower-wage jobs — waiter or waitress, bartender, retail clerk or receptionist, for example — and that’s confounding their hopes a degree would pay off despite higher tuition and mounting student loans.
An analysis of government data conducted for The Associated Press lays bare the highly uneven prospects for holders of bachelor’s degrees.