You've paid your dues in college for the past four years. Maybe you have been working a part-time job to pay off student loans, while you pull all-nighters studying for finals. You expect all of the hard work to pay off with a good job in your chosen field.
But reality these days is much harsher. New data shows that half of all recent college graduates are either unemployed or underemployed, working as waiters, cashiers, retail clerks and bartenders, most barely making over minimum wage and many still living at home with their parents. This is the highest unemployment rate for college graduates in over 40 years.
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College graduates are now just as vulnerable to unemployment as a high school dropout. 35% of those with advanced degrees have been unemployed for over a year.
Many of the future job prospects tend to be in industries like the home healthcare market which relies on an actual human instead of automation. The jobs that can't be outsourced like dentist or doctor will be more in demand in the future.
Job prospects for college graduates with a bachelors degree fell to their lowest levels in more than a decade. Over 53% of those college graduates under the age of 25 were either unemployed or underemployed. And that number doesn't seem to be changing. The higher end and lower end jobs are doing better than the ones in the middle, which have been hurt the worst.
The college students with degrees in teaching, accounting, and nursing were more likely to find jobs than their counterparts who graduated with philosophy or art history degrees.
The Helrich Center at Rutgers University did a study recently. They asked college graduates if their first job was a career. If they graduated before 2008 30% of them said yes. If they graduated after 2008, the number dropped to 22%.
So, what is the solution? As someone that didn't go to college at all and has never gotten a job with a resume, my solution has always been that you have to create your own opportunities. I've always started at the bottom and looked at every job as a learning experience. Even the worst jobs will teach you something. And believe me, I've done some pretty horrible jobs, like picking out burnt potato chips on an assembly line or working in the field picking tobacco.
Life will always throw you curveballs no matter what kind of degree you have, no matter what your circumstances are at the moment. The average person changes jobs and even careers many times throughout their lives and with the new job market, changing jobs and careers will become the new normal.
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