Welcome to corporate America is the memo that new college graduates are expecting to receive after graduating from college. But only half of new graduates will even have jobs after they graduate.
1 in 2 college graduates from the class of 2012 are unemployed or underemployed. Many will have to move back in with Mom and Dad. Others will survive but take menial jobs working as minions for restaurants, bars, and local coffee shops until they figure out what they want to do.
Bachelors Degrees just aren’t worth what they used to be.
About the only sure thing about a bachelors degree is that you’ve got a 50% chance of being unemployed, or underemployed and have mounting debt to boot to go along with it. Debt you may never recover from.
What’s fascinating is that if you live in States like Texas and the South you have a better chance of being employed after college. And in a high quality job.
But it’s something to still be cautious about if you live in the North.
Andrew Sum, director of the Center for Labor Market Studies at Northeastern University who analyzed the numbers, said many people with a bachelor’s degree face a double whammy of rising tuition and poor job outcomes. “Simply put, we’re failing kids coming out of college,” he said, emphasizing that when it comes to jobs, a college major can make all the difference. “We’re going to need a lot better job growth and connections to the labor market, otherwise college debt will grow.” ~ Source
In other words the economy still sucks but hopefully someone will figure it out before too many go into massive unrepairable debt with degrees that don’t get them ahead in life.