May 15, 2012- On Monday, President Obama gave the commencement speech at Barnard College, a New York college for women. For up to 50% of the seniors, who sat and listened intently to the President’s speech, it will be hard to find work after they graduate. A recent study says that close to 50% of new college graduates cannot find work.
Many graduates said they were told that with a degree in hand, you will be far ahead of the rest, but many are finding out that is not always the case. If there are no jobs available, having a degree will not help. A study says that graduates with engineering degrees are being hired more than others. Employers said they would hire first engineers, then business, accounting, and computer science.
Another problem graduates are finding is the jobs they can find or are hired for are well below what they studied for in school. Twenty-seven percent of recent grads that have found employment said the jobs they are working in were below the level of the education they took in college and the same percentage have said they had to move back home with their parents to save as much as possible.
The average salary for graduates in their first job, during the recession, is $27,000 or about $3,000 less than in years prior to the recession.