260,000 college grads in minimum wage jobs: CNN this AM

Parents Forum
1

<p><a href="http://money.cnn.com/2014/03/31/news/economy/minimum-wage-college-graduates/index.html?hpt=hp_t3"&gt;http://money.cnn.com/2014/03/31/news/economy/minimum-wage-college-graduates/index.html?hpt=hp_t3&lt;/a&gt;&lt;/p>

<p>I don' t think it is news to anyone on CC, but certainly is a reminder to think carefully about the amount of debt any student should take on in expectation of a good salary after graduation...</p>

2

<p>I would like to see this table broken down by major - they would tell a better story! I have friends who have kids with degrees in film who are waiting tables. All the friends with kids with engineering degrees have great first jobs out of college.</p>

3

<p>I would also like to see this broken down by age - this is not all recent grads - some might be moms returning to the workplace after staying at home, recession hit workers who are underemployed because they can’t find jobs in their industry, etc.</p>

4

<p>Actually, we know kids in lots of majors that are having trouble getting good jobs now–elementary education, psychology, engineering, cinema, a large gamut! Some have found some temp jobs but many are NOT in their majors and many are only part time or temporary and NOT by choice.</p>

5

<p>It is not only recent grads, it is also recent graduate school grads. So maybe they are paid more than minimum wage but many cannot find full-time positions that offer any benefits. They put together several part-time, or full-time temp jobs. </p>

6

<p>this is what happens when people go to college that shouldn’t (don’t need) go to college…</p>

<p>there are a number of colleges that provide little education beyond what more advanced students are getting in high school.</p>

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<p>this has almost nothing to do with the product that colleges are producing: the job market stinks. Period.</p>

8

<p>Keep these numbers (260,000) in perspective. Over 31+% of all American’s over the age of 25 have a Bachelor’s degree or better and the current US employed workforce is over 145 million. </p>

<p>Based on 2009 data (when the overall unemployement rate was 7.9%)</p>

<p>Master’s degree: Median weekly earnings: 1,257; unemployment rate: 3.9%
Bachelor’s degree: Median weekly earnings: $1,025; unemployment rate: 5.2%
High school Graduate: Median weekly earnings: $626: unemployment rate 9.7%</p>

<p>Educational attainment is strongly correlated with income in the United States. It is, however, no guarantee of success.</p>