http://www.economist.com/blogs/theworldin2014/2014/01/youth-unemployment
In the article "Comeback Kids" it talks about how the financial crisis has affected the ability of young students to find jobs out of college. The financial crisis has caused many graduates and youth to move back in with their parents because they are not able to find jobs.
In the article it states that about 36% of american's in the age group of 18 to 31 are still living at home. This number is extremely high and the article states this might be partly due to the fact this number factors in students. Many of the youth today who are getting jobs are receiving less pay then their peers did before the financial crisis and the ones who are paying rent are paying more. Although times have been hard, 2014 may be the year where it turns around as the amount of college graduates getting hired right out of school is estimated to rise. Internships have been a hot discussion topic lately but it is estimated that companies will be offering more placement opportunities where the students have the opportunity to impress the employers. With these estimations and other factors the International Monetary Fund increased its global growth forecast in 2014 by .1 percentage point. Hopefully 2014 brings better luck for college graduates.
The article also discusses 2014 as a welcome year of change for these college graduates. I think that 2014 does look promising because of the statistics that were referenced, especially the statistic that there is an 8.7% rise in the offer of jobs. The youth of today must find creative ways to use talents gained in their undergraduate degrees and find ways to vacate their childhood rooms.
ReplyDeleteI feel as though its harder to find jobs in that age group because a bachelors degree is no longer as highly valued as it was before. Now a master's is as valued as the bachelor's was and people in that age group have a hard time thinking that they should pay more for school when they just graduated and paid a lot.
ReplyDeleteI definitely agree with Nicole, the worth of an undergraduate degree is undervalued due to the increasing number of graduates. I also believe this move back home is due to large student loan debt. Banks and the government are lending more and more to students so that they can receive a higher education, but the costs after school are substantial; and if there is no job to go to, the costs are overbearing for the graduate.
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