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Actually, your question should be what is the unemployment rate of a college graduate with a degree in the field of math, science, engineering, or technology.
It is unbelievably low - around 5% and companies are still having trouble finding qualified people for their positions.
Please explain how this rate includes college graduates looking for work but unable to find it? Because that is exactly what this rate is stating... you must be looking for work actively to qualify for this rate.
If you have given up looking for work-- you aren't unemployed because you refuse to look for work (which is out there).
I posted this rate because a lot of these OWS kids have college degrees and could find jobs if they actually looked. But the problem is they refuse to actively look.
And given the current national job vacancy rate is nearly 2.5%, there absolutely ARE unfulfilled jobs out there.
Please explain how this rate includes college graduates looking for work but unable to find it? Because that is exactly what this rate is stating... you must be looking for work actively to qualify for this rate.
If you have given up looking for work-- you aren't unemployed because you refuse to look for work (which is out there).
I posted this rate because a lot of these OWS kids have college degrees and could find jobs if they actually looked. But the problem is they refuse to actively look.
OK, you like "facts and figures"...so please post PROOF that "they" refuse to look.
OK, you like "facts and figures"...so please post PROOF that "they" refuse to look.
Sure, it is from a sample population of 60,000 that the census bureau interviews. They ask the person "are you looking for work?" and if the person says no-- that means they are not looking for work or refuse to look for work.
to save you from digging through the pages of data, here is the proof you need. Note: this data is for people holding at least a bachelors degree who are 25 years old and older, and these numbers are not seasonally adjusted, and all numbers are in thousands
Total Population ('000s):
Aug '11: 61,579
Sep '11: 61,546
Total labor force ('000s):
Aug '11: 46,800
Sep '11: 47,021
Labor Force Participation Rate (%)
Aug '11: 76.0
Sep '11: 76.4
Employed ('000s):
Aug '11: 44,648
Sep '11: 45,048
Unemployed ('000s):
Aug '11: 2,152
Sep '11: 1,973
Unemployment rate (%)
Aug '11: 4.6%
Sep '11: 4.2%
So what does this tell us? this says that in August and September, ~24% of those with a bachelor's degree between the ages of 25 and 65 years old are NOT employed and are NOT looking for a job.
Go ahead and read the report yourself if you don't believe me.
But it makes them feel better about the practically mandatory requirement of having a Bachelor's Degree to do anything but work retail or menial blue collar jobs.
In 1973 Stanford economist Kenneth C. Arrow through a monkey wrench in economist Gary Beckers human capital theory when he proffered his Great Screening Hypothesis where he postulated that employers use a college degree purely as a screening device. Arrow postulated that by advertising a position a stipulating the necessity of a college degree, the pool of potential applicants is automatically narrowed. This process continues using such things as GPA, reputation of the school, etc until the number of applicants is of a manageable size.
Having read Arrows papers on the subject, I long began to ascribe to his point of view because outside of a few technical and scientific professions, I am convinced that a college degree is not necessary to perform the job as required. Take for example your point where you exempted retail from the mix, that is no longer true. Many of the Big Box retails require a college degree for their entry level management positions, despite the fact that non-college graduate employees have been doing the same job and for longer.
An example, Target requires all of their mid-level managers to have college degrees, even though they do many of the same jobs as "team" members. Taking out the trash, stocking shelves, unloading trucks etc, job skills that are often taught to them by employees with only a high school diploma (of course that is why Target has a 50% turn-over rate amongst its mid-level managers).
Meanwhile in countries like Germany, many of these same jobs are staffed by high school graduates who worked as apprentices. Which is why new account managers at German banks can be as young as 19 years old. I mean really, does one need a college degree to open a checking account for a customer, be a manager at a chain convenience store or be a mid-level manger at Target, I think not.
Please explain how this rate includes college graduates looking for work but unable to find it? Because that is exactly what this rate is stating... you must be looking for work actively to qualify for this rate.
If you have given up looking for work-- you aren't unemployed because you refuse to look for work (which is out there).
I posted this rate because a lot of these OWS kids have college degrees and could find jobs if they actually looked. But the problem is they refuse to actively look.
I'm not sure about the accuracy of that statement. You have to be doing more than "looking for work" to qualify for unemployement benefits. You must have worked some minimum amount of time over a given span of time. Prior to the "extensions", I believe you had to have been employed 26 of the last 52 weeks to qualify. So a full time student, that didn't work during school, and never landed a job upon graduation, would not qualify. Hopefully someone in that situation can verify this.
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