It’s that time of year again: summer, the days of sun and no school. It’s also the time of year when the news turns its attention on students who are about to graduate from college and what their job prospects look like. The future is less sunny for these recent graduates, but that’s no surprise.
This week, the Wall Street Journal released an article entitled “For Most Graduates, Grueling Job Hunt Awaits”. The article quotes a study from the John J. Heldrich Center for Workforce Development at Rutgers University which showed only 49% of graduates from the classes of 2009 to 2011 found full time work within a year of completing their courses. The article also showed that for students who do find work, they earn only a dollar more in their jobs than they did in 1989 (adjusted for inflation).
The stories are the same everywhere. RadioIowa covered the story of a young man Dennis Bowen and his job hunt. They pointed out the unemployment for Gen Y is close to 16%, double the national average. Not only that, but student loan debt is the highest it has ever been. Fox News pointed out that even students who find jobs probably won’t need their degree due to massive underemployment.
This time last year, news outlets were singing the same song. CNN Money produced a frightening piece called “The Great Recession’s Lost Generation” about how even students with Ivy League degrees couldn’t find work out of school.
This horrendous unemployment for the youth is no longer a phenomenon, it is a pattern. The economic recession hit those without the experience and connections the hardest. And it has continued as the economy has not recovered. Obviously, the government’s approach to fixing these issues has not worked, as the jobless trend continues. While Obama seeks to connect with youth, and fix their student loan issues, he truly done nothing to alleviate their burden. Only new leadership can change these depressing statistics.