"Coupled with and central to a crisis in the status of the middle class, we are witnessing a growing crisis in which college graduates are finding it increasingly hard to find jobs. As record numbers of students graduate, they do so into a dwindling and ever-decreasing job market. With so many students having gone into extreme debt to attain an education, and graduate into a jobless market, we see the growth of a â??crisis in expectations.â??
As the Guardian reported in September of 2008, at the height of the global financial crisis, â??Universities are producing too many graduates, leaving more than a million people in jobs for which they are over-qualified.â?? Thus, there are too many graduates and too few jobs.
Alan Krueger, an economist at Princeton, explained in December of 2008 the misrepresentation of the official statistics for unemployment as put out by the Bureau of Labor Statistics. As he explained, to be counted as â??unemployed,â?? it is required that someone:
“1) was without a job in the reference week; 2) made an effort to actively search for a job in the last four weeks; and 3) was available for work. A person who is not employed and does not meet this definition of unemployed is considered out of the labor force.”
So, if you are unemployed and have given up on searching for a job, you are not counted in the statistics of unemployment. Further, if you are surviving on part-time work, you are not counted in the unemployment statistics. Students who canâ??t find a job and return to school are not counted among the unemployed. Thus, the official government numbers are a gross misrepresentation of the true degree of the crisis in employment."
I have a LOT of students who go to the Ohio State Univ, Miami (Ohio), all sorts of great schools…and come home with degrees and no job. It is really sad. One, with a degree in engineering, joined the service and is now in Afghanistan. Guess the ‘recovery’ has yet to kick in here.
Anyone else here in this situation?