Here are some interesting stats:
- According to Andrew Sum, an economist at Northeastern University, about half, or 3.2 million, are “underutilized” -- meaning they’re unemployed, working part-time, or working a job outside of the college labor market, such as bar-tending or waiting tables.
- There's gonna be over a trillion dollars worth of student debt floating around relatively soon.
- Half a century ago, 77 percent of women and 65 percent of men had attained traditional markers of maturity by their 30th birthday: They had left home, finished school, gotten a job, married, and started a family. According to the U.S. Census Bureau, by 2000, less than half of 30-year-old women and just one-third of 30-year-old men had attained similar markers of adulthood.
- Graduates of 2009 were hit especially hard. A study conducted by the John J. Heldrich Center for Workforce Development at Rutgers indicates that 50 percent of 2009 graduates are either unemployed or working in jobs that don’t require a college degree.
Beyond the stats - and maybe more troubling - is the effect on the psyches of an entire generation of job seekers. The general optimism about life, careers, etc...is waning as the recession continues. Not having a job, getting laid off or transitioning is tough - but NOT EVER having a job is 10 times worse.
Of course, standing out to me was not the stats, but what happens after graduates return home: "Recently, after sending out dozens of resumes and cover letters, all of which went unanswered, Malik’s spirits plummeted. Even rejection feels better than no response at all, she thought to herself." It's not just the fact that no jobs are out there - it's that the system is not designed for the mis-match in supply and demand.
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