For those of you looking forward to celebrating your new shiny diploma, the New York Times suggests you may want to try selling it for food instead. Granted, it’s no fun graduating from college in a recession. Unemployed Ivy Leaguers have been known to speak in tween and sell cashmere in their unbridled free time, and some truly unruly kids have even started blogging for desperation’s sake!
But even though many signs suggest to a slow but steady recovery, the NYT brings us back to wrist-slitting reality with an editorial chastising the government for not doing more to ensure that young America has hope for finding employment.
Commencement is supposed to be filled with hope, but for the class of 2010, these are grim times. Over the past year, the unemployment rate for college graduates under age 25 has averaged 9.1 percent. For the roughly half of high school graduates under 25 and not in college, the average is 22.8 percent.
The Times does a good job of summarizing all the issues last year’s grads have been trying to avoid:
Where you start out in your career has a big impact on where you end up. When jobs are scarce, more college grads start out in lower-level jobs with lower starting salaries. Academic research suggests that for many of these graduates, that correlates to overall lower levels of career attainment and lower lifetime earnings. […] For many undergraduates, especially those with large student debts, graduate school would be prohibitively expensive.