May 17, 2009

A Tough Market For College Grads

An excellent story in the Minneapolis-StarTribune today highlights the difficult job market facing college grads today:

"Just 19.7 percent of 2009 grads who applied for a job have one so far, down from 51 percent at the same point in 2007, according to a new survey by the National Association of Colleges and Employers.

Those employers say they plan to hire 22 percent fewer graduates than last year. Another survey by the group shows the average starting salary dropped 2.2 percent from the same time last year."

Let's hope these students do graduate with high-interest credit card debt in addition to their student loans. For the current unemployment rate, the worst in 25 years, check out my previous post here.Above photo: St. Olaf College, Northfield, MN


MG said...

There are going to be alot of students that will go to a 2 yr college it's cheaper and might make the same income then the person that graduate from a 4 yr college.

It might be they might go to a 2yr the government might pay all the federal aid for those 2 yrs.which means they can transfer to a 4 yr and finish there to yr there paying way more less than students going to a 4 yr college right away.

binna said...

spring graduates will vie for jobs not only with classmates but also with young workers, retirees who need to go back to work and even stay-at-home moms returning to the workplace.

It is actually pretty scary to think how tough it is now and how much tougher it is going to be for those coming out of colege in the future.