If misery loves company, there are millions of unemployed and miserable college graduates. The official US unemployment rate is 7.2% as of October, 2013. While this is better than the last few years, the statistics are misleading. For one, the unemployment rate only counts those who file for unemployment (if you’ve never worked, you cannot). Secondly, it does not account for the underemployed or people with part-time jobs. These rates, while bad across the board, are even worse for college graduates in the U.S.
According to investopedia.com: “Beyond the statistics, however, there are various reasons for the nation’s politicians to be concerned. Not only is the current labor market recovery the weakest since World War II, but there remain several demographics that are unable to find work or achieve their desired career success. To put this into context, approximately 55% of the 175,000 jobs added to the U.S. economy during May were either low-paid or temporary assignments, while youth unemployment continues to soar and has now reached a staggering 16.2% across the U.S.
Chronic Student Underemployment
It is the current generation of graduates that is suffering the most considerable hardship, however, as minimal employment opportunities and spiraling debt continue to undermine future prospects. According to a recent online survey, more than 40% of U.S. college graduates are either underemployed or working in jobs that do not even require a college degree. Subsequently, cumulative student debt in the U.S. has soared beyond the $1 trillion mark, which in turn has created a demographic that is unable to repay the cost of their education or contribute toward the growth of a nation’s economy.”
These are alarming numbers. Student loan debt is more than ONE TRILLION DOLLARS. A trillion is a million million or a thousand billion! Staggering!
But, there are some things you can do to help yourself in the employment world. You need to build your resume to look better than other candidates.
How the hell do I do that if I can’t get a job? Waiting tables? “Fries with that”?
– Volunteer or accept menial work or vocational work.
– Start a business on your own or with a friend. Need ideas? This website has hundreds of them. Many can start for less than $100. Ebay, Etsy, daycare, tutoring and translation services are a few.
– Take the part-time job, hopefully in your field. No, not perfect, but you are young and can live with friends or with family. No major concerns – yet. House and kids can wait a few years.
– If you can, go for your master’s degree. With a master’s degree, you will be able to teach at online schools and maybe at some colleges and universities. More doors open with a MA or MS. If you can. Look into online programs. Many are quite affordable for advanced degrees.
Yes, being unemployed even after 4 years of hard work, sucks. I can appreciate that. But you do have options. Look hard at any opportunity available to fill that resume. You are young, capable and smart. Be real smart and help yourself.