As if the idea of leaving the comfort of one’s collegiate years isn’t daunting enough, University of Minnesota students who graduate at the end of this semester could be left in the cold — literally.
Earlier this year, it was widely reported that more than half of recent college graduates were jobless or underemployed — working in a job that does not require a college degree. In 2000, just 41 percent of bachelor’s degree-holders were in the same position.
The percentage of employed “youth” aged 16-24 in Minnesota has also decreased since 2000, according to a Kids Count report released earlier this week. Just 60 percent of youth were employed in 2011 compared to 73 percent in 2000.
While unemployment continues to plague college graduates and young people, a survey released in September found that employers anticipate hiring 13 percent more college graduates in 2013 than they did in 2012. This is good news for anyone graduating this December and looking for an entry point into the professional
Still, finding employment in the state and this economy is a struggle for many well-qualified young people. Federal and state lawmakers should work to pass legislation that further spurs economic growth and encourages employers to hire the nation’s recent graduates.
The younger generations had little to do with the cause of the one of the worst recessions in U.S. history. However, they are arguably paying a higher price for it than any other demographic at this point in time. The nation’s business leaders and public officials should work to alleviate the painfully high unemployment rate of recent college graduates.