<p>Economic Policy Institute reports: "[T]he class of 2010, which will be entering a labor market with the highest rates of unemployment in at least a generation. It also shows that unemployment rates for both college graduates and non-graduates younger than 25 are nearly double their pre-recession levels.</p>
<p>Since the start of the recession, the youth labor force (workers age 16 to 24) has contracted by 1.1 million workers, and most young adults who come across hard economic times will fall through the large gaps in the public safety net." The</a> Class of 2010</p>
<p>I recall the job market being worse back in 1980/1981 for college grads. BC grads were bagging groceries at the local Star Market and there was long-term pessimism brought on by years of realism (not creating bubbles for a temporary high).</p>
<p>For several reasons, my daughter needed to take a year in between graduation (2010) and grad school (fall of 2011). We were very concerned about her ability to find work during this interim year. So she applied for, and was accepted to, a program run by the French government to teach English in a public school in France. Sorry to say that the U.S. job market was just too untenable to rely on. And this job will not only pay her a (somewhat livable) salary but cover all of her healthcare costs while she’s there.</p>
<p>BCEagle-I remember those days, too. In 1978 my (midwestern) college class had 3 types of graduates - engineers, nurses and the unemployed. (guess which group I was in). </p>
<p>It might be worse now though, what with the higher student loans some of these kids are carrying.</p>
<p>I am going to guess many parents on this site graduated in the mid-70’s. At that time, the economy was down, and engineers/Phds were working as dish washers in restaurants…and as a female, it was realllllly tough! The ERA had just passed, and female college grads were often on the short end of the stick.
So…I have faith in this generation in using the resources they have, and crafting new ones for this time period. My guess is they will exceed our expectations…</p>
<p>I agree. I was amazed by the job offers in my son’s graduating class. </p>
<p>It’s those who are over 50 and long time workers whose skills are being outsourced or discontinued due to technology that I worry about, and the young who have limited educational opportunities.</p>