Consider the infographic produced by Reason.com:
- The Class of 2007 boasts an underemployment rate of 9.6%.
- The Class of 2014 boasts an unemployment rate of 16.8%.
That’s a 31% increase.
Then, too, the portion of college grads working part time (<35 hours/week) has risen.
- In 2000, 15% of college graduates worked part time.
- In 2011, 23% worked part time.
That’s a 53.3% increase.
What jobs do those college graduates hold? In 2010:
- 51.9% of jobs held by college graduates required a bachelor’s degree or higher.
- 37% of jobs held by college graduates required a high school diploma or less.
- 11% of jobs required something more than a high school diploma but not a bachelor’s degree.
That means 48% of the jobs available require no college education.
The “take away”?
The Obamanomics job market is increasingly becoming characterized by part-time jobs that require no college education. Moreover, those jobs pay less, provide fewer benefits, and offer little promise of advancement to full-time jobs that pay more and offer greater benefits. Thank goodness there’s Obamacare to cover their healthcare.
How’s that for hopium and changium?
Let the discussion begin…
To access the infographic at Reason.com, click on the following link:
"The Sluggish Economy Slams Recent College Grads."