underemployed

Saturday Reads Around the Internets - Over Half of New College Grads Can't Find a Job in 2011

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shocknews Welcome to the weekly roundup of great articles, facts and figures. These are the weekly finds that made our eyes pop.

 

53.6% of New College Grads are Jobless or Underemployed in 2011

Dr. Andrew Sum crunched the numbers and for those graduating from college with a Bachelors we have some startling news. A whopping 53.6% of those under the age of 25 who have a college degree are either unemployed or unable to land a job in a field associated with their college major. Associated Press:

A Deeper Look into Friday's Unemployment Numbers

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The headlines hit the feeds, WOW! May nonfarm payrolls -345,000, while minimizing a 9.4% national unemployment rate.

Others, not really interested in lagging indicators of a possible recession bottom, questioned Huh?

I mean, really, talk about cheerleading!   A reduction in the collosal monthly rate of job losses over the last year or so is interpreted here as a slow-down in the recession?  How so?  A slow-down in job losses, perhaps, and probably a monthly blip, but an improving recession?    How is that connection established?   I'd say there's about as much substance to that statement as Bush's remark that "We don't torture".

In Jobless rate slows, unemployment up and traders are happy:

There are so many people that have run out their unemployment benefits and have either:

  • Just stopped looking and aren't working
  • They had to take part time work

In these economic times of a prolonged recession, oops better get my words in order her, call it an economic down turn.   Did the powers to be ever really say the R word.   Did we hit enough quarters for them?

Econbrowser (one of the best blogs out there for economics!) says it all with a couple of graphs: