Last fall as their senior year was getting under way, According to a national survey highlighted on CBS News, grads now find themselves scrambling in a market that has increased by only 2%.
At the end of May 2013, the U.S. Labor Department reported a one-week increase in the unemployment rolls of 354,000 — and that was on top of the more than 10,000 Americans who filed for unemployment benefits the previous week. While unemployment for new college grads has actually decreased since the height of the recession when it topped 10%, the decrease has been minimal. New grad unemployment today is hovering just under 9%.
Of even more importance to graduating college students is the disparity in profession hidden in today’s unemployment stats. The job prospects for business majors are pretty good with salaries actually increasing (up 7.1% over last year) and multiple job offers coming in. Social science and humanities majors, on the other hand, are beating the bushes for jobs that simply don’t exist. Grads in those fields that have been lucky enough to get a job are discovering that salaries have flat-lined. Increases are few and far between and, if offered, are running below 1.9%.
The trick is to have chosen a major that is now in demand. For the majority of college students that did not make market-driven decisions four years ago, the future is anything but rosy. And with economic recovery seemingly locked in slow motion, they’re going to have a harder time joining the ranks of the employed.
Many grads may have to stack the employment deck in their favor by using Zoondy demonstrate entrepreneurial initiative and create demand for their skills. Click here to find out how Zoondy works; then sign up to beta test Zoondy at https://zoondy.com/.