Unemployment And Underemployment Of College Graduates

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Unemployment and Underemployment of College Graduates

“The Class of 2014: The Weak Economy Is Idling Too Many Young Graduates,” published on the Economic Policy Institute website, reported that the trend of the labor market would remain for ten to fifteen years (Shierholz, Davis, & Kimball, 2014, Para 10). The report showed that unemployment rate for college graduates was high, and college graduates had jobs requiring less college educations with low pay. Average pay was 7.7 percent lower than the great recession period 5 years ago (Shierholz et al., 2014, Para 9). Shierholz et al. (2014) explained that the great recession was not the factor for such a trend. With the weak market trend, employers did not have motivation to hire new college graduates (Shierholz et al., 2014, Para 23). In 2014, unemployment and underemployment rate for college graduates indicated 8.5 percent and 16.8 percent respectively (Shierholz et al., 2014, Para 4). New college graduates have relatively difficult time to get jobs. The report also identified that the employment rate was different among different race and ethnicity. Latino and African American’s unemployment rate showed higher than White (Shierholz et al., 2014, Para 4). The report indicated that less jobs required general intelligence associated intelligence quotient (Shierholz et al., 2014, Para 4). Employers may demand a new skill set.


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