College graduates are increasingly likely to work in low quality jobs

[Street Knowledge]

http://thinkprogress.org/economy/2014/01/17/3175861/college-graduates-jobs/

Today’s recent college graduates are more likely to work in jobs that don’t require a degree, pay little, and are part-time than in the past, according to new research by the Federal Reserve Bank of New York.

While it is common for graduates to work lower quality jobs right out of school and move up the longer they keep working, the share who find themselves in this position has risen while the quality has dropped. The underemployment rate, or the rate of graduates working jobs that don’t require a degree, has risen since 2001 and jumped sharply after the recession to the point where 44 percent were in these jobs in 2012.

 

[newarkhiphop]

Total student loan debt is now at $1 trillion, with a record number of Americansholding some of this debt. A record number of people are also defaulting on those loans. The effects of this debt overhang can last well into the future, as those struggling to pay it off are less able to buy a home, have a lower mortgage payment, or save for retirement, and can mean a student who borrows the average $53,000 in debt can expect a lifetime loss of wealth totaling $208,000.

 

[TLR Is Mental Poison]

Big article on this in Bloomberg Business this week. They are saying it's the new housing crisis, but way worse. Govt gonna have to eat all this.... just like housing

 

[Type Username Here]

It's just the path to the ultimate end-game of Capitalism: serfdom.

These people won't be happy until we are paid in coupons, forced to work 20 hour-a-day shifts and forced to eat oil as means of sustenance.

 

[Serious]

just the market working itself out....

 

[Julius Skrrvin]

I thought we were all lazy and entitled though?

 

[ugksam]

the man told em they had to go to college to better themselves and benefit society

 

[unit321]

That happened to me two decades ago. Job market, at the time, dropped. It was pretty bummers and I was working part-time at Sears...

 

[Swirv]

Create your own job or move out of the country. Why are Americans scared to leave for a better life? Other people do it everyday.

 

[The 2020 New Member]

is this a reason not to go to college?

 

[Mr. Somebody]

Maybe you should move to an area where your degree can benefit you. Sometimes friends like to just hang out in a region where jobs are scarce instead of you know, moving.

 

[superunknown23]

They ain't hiring you without a college degree though.
Even bartenders need one these days

 

[☑︎#VoteDemocrat]

Stop majoring in bullshyt degrees.

 

[Serious]

Stop majoring in bullshyt degrees.

major in biology brehs...

 

[Spin]

Stop majoring in bullshyt degrees.

While the type of degree is important, the bigger issue is work ethic and spending time to master something. Not everyone is cut out to be a doctor(or any other high paid "path") and not everyone wants to be one. If suddenly everyone became computer programmers, the pay would fall for that as well. Then suddenly becoming a programmer would be looked down at. It's almost getting that way becoming a Lawyer. Unless you're graduating form a top tier law school, you're aren't seeing 100k a year. There are simply too many graduates and too few jobs.

Mastering a craft that's in demand and that you enjoy is key. The rarer the skill, the more you will be paid.

Maybe most important of all is networking. Network now before you need the job or clients so you will have people to call once you're ready.