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The Labor Department's report on jobs today shows continuation of a trend we spotted last month: College grads are becoming unemployed at a faster rate than high school dropouts.
Based on preliminary household survey results from October, the number of unemployed jobseekers among Americans, 25 and older, with at least a Bachelor's degree is up 1.2 million or 132% since the recession began in December 2007. For those with less than a high school diploma, the number of unemployed has climbed less than 1 million, still more than double the count at the start of the recession.....
I'm telling ya...this economy is going to be majorly different from now on. The new jobs are going to be in the service industry. We will see lots more entrepreneurs opening service businesses.
The Labor Department's report on jobs today shows continuation of a trend we spotted last month: College grads are becoming unemployed at a faster rate than high school dropouts.
Based on preliminary household survey results from October, the number of unemployed jobseekers among Americans, 25 and older, with at least a Bachelor's degree is up 1.2 million or 132% since the recession began in December 2007. For those with less than a high school diploma, the number of unemployed has climbed less than 1 million, still more than double the count at the start of the recession.....
Source: Bureau of Labor Statistics
That is true. However, college grads still stand in a better situation as a percentage of unemployed. "The jobs report shows that among college grads 25 and older in the labor force, 4.7% are unemployed and looking for work, compared with 15.5% of high school dropouts."
The last dropout rate i saqw was 1 in 5 which is 20%.Of course the recession causes huhe increases as if 1 perosn is in your family owrking and that person lose his job then 100% are unemployed in your family. But teh eranigns of college graduates is higher overlal in the life span of a wrok and not having one actually elimiantes you from so many occupations thast are midlle income and above as more skils are required every year. Things can be twisted nay which way really but most knoew the facts of work life.
In agreeing with ozzie679's take on the job scene I'd add that from my experience in the corporate world that degree is just a personal reference. Most grads don't know squat about the job they're hired to do, take years to gain applicable experience and frequently just hinder progress.
And since McDonald's doesn't sell latte's, I don't think the service industry is going to care much about that reference.
During bad times more people than ever sign up for the army to get benefits, etc...but under this president I wonder how many trust to go into the army...
mega student loan game is not working.
i think with internet classes and kindle by google we might see competition bring the price of education down. or that is my hope.
and you dont need a college degree to fix the plumbing hang a new door fix that roof leak shovel snow etc. you just cant do that kind of stuff from india. now paying back student loans for your offshored jobs? thats a problem.thank your gov and corporate America and remember this when you vote
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