Recent Graduates Unemployment Reaches Highest In Over 20 Years
SHOCKING NEWS: No one can find a fucking job. Recent graduates unemployment rates are higher than they have been in over 20 years thanks to the economic downturn or The Great Recession of 2008 that has only superficially improved. After all most of those great new job openings are in service work, that means retail and hospitality, which also probably means minimum wage and is also the field where more women than man are working in. So there have been lots of new crappy jobs for female recent grads, yay!
According to the report by The New York Fed, “That said, both unemployment and underemployment have followed a clear upward trend for recent college graduates over the past two decades, and particularly since the 2001 recession. In addition, it has become more common for underemployed college graduates to find themselves in low-wage jobs or to be working part-time. It is not clear whether these trends represent a structural change in the labor market, or if they are a consequence of the two recessions and jobless recoveries in the first decade of the 2000s. Either way, young college graduates entering the labor market since the 2001 recession face more challenges in finding a good job. While many of these graduates will eventually find employment or transition into higher-skilled jobs as they gain experience and as the labor market normalizes, recent research suggests that those who begin their careers during such a weak labor market recovery may see permanent negative effects on their wages.”
There you have it: times is tough. Crappy jobs for a long time until you get the one you want but will suffer from lack of experience because you were busy bussing tables. A late start is better than no start as long our generation stops getting shade thrown on it for being “lazy” “internet crazed” and “overly selfie indulgent.”
When adults dismiss our generation it is just a way for them to absolve themselves of accountability of having destroyed the economy, food industry, environment and any reputation America has for being the land of the free. But, yeah, us millennials.