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Boomerang College Grads: 53% Cannot Get Decent Jobs. Parents Paid a Fortune.

Written by Gary North on April 24, 2012

The job market is rotten. College grads cannot get anything except fast food jobs.

Meanwhile, they have $25,000 of debt.

The Associated Press looked at the data published by the government.

Kids with degres in science and engineering can get jobs.

Median wages are down from 2000 in the liberal arts.

Andrew Sum, director of the Center for Labor Market Studies at Northeastern University who analyzed the numbers, said many people with a bachelor’s degree face a double whammy of rising tuition and poor job outcomes. “Simply put, we’re failing kids coming out of college,” he said, emphasizing that when it comes to jobs, a college major can make all the difference. “We’re going to need a lot better job growth and connections to the labor market, otherwise college debt will grow.”

Here are the figures. Over 50% of B.A. holders under age 25 were unemployed or underemployed.

In the last year, they were more likely to be employed as waiters, waitresses, bartenders and food-service helpers than as engineers, physicists, chemists and mathematicians combined (100,000 versus 90,000). There were more working in office-related jobs such as receptionist or payroll clerk than in all computer professional jobs (163,000 versus 100,000). More also were employed as cashiers, retail clerks and customer representatives than engineers (125,000 versus 80,000).

If the parents had known how to beat the system, they could have paid $15,000 total for their children’s B.A. degrees in the humanities. Their kids would have no debt.

That would not change the job market, but it surely would change the student debt market.

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15 thoughts on “Boomerang College Grads: 53% Cannot Get Decent Jobs. Parents Paid a Fortune.

  1. sean murry says:

    College is a scam nowadays there are no jobs for these kids.

  2. As the article said, there are jobs for graduates, but not many at all are avialable for those that chose Liberal Arts rather than the Sciences and Engineering majors.

    party-time 101 = burger flipping or advancing to waiter/waitress jobs.

  3. If the kids would have gotten a job and PAID for their own educations (like I had to) they might have a better incentive to get a better paying job… or move to a state, like Texas, where we can't get enough people to fill the jobs we have… better, yet, some of these brains could go to a trade school and get a craft, like welding, where pay runs $35-$70/ hour, then they could pay their parents back for the $25K (that seems a bit low, if you ask me) they spent.

  4. You hit the nail on the head. This also gets back to everyone does not need a college education and we do not have a responsibility to give them a job because you got a degree in theater.

  5. Even when I came out of school in the 80's, I made less than what I paid in, of course, I did work and I did not take any loans.
    However, college return is paid out over the lifetime. That being said, old graduates like me have not had a great time in the last 4 years either. I was out of work in 2009, found some work, out of work in 2010, twice, finally settled where I am now at 40% of what I was earning before the recession. Plus, I lost 3 businesses during this time as well.
    I am not whining, but the powers that be, have allowed us all, young and old, to be let down. They have filled their pockets, hidden their money, patted their buddies on the behind and gave them my child's future.
    When do we as Americans stand up and say, "Enough!"
    We must vote out the old and demand work, (you know, like we do,) from the new. If they do not perform, they need to be outed too. I have to do my job or lose it. We are the employers, we MUST demand the same of Congress, Senate and the White House. They can cut down and do without, like we are, they work for us.

  6. Why would anyone spend time and money to get a degree in General Studies, Hispanic/Afro American/Native American Studies and other bogus studies and then expect to get a job that's anywhere closely related, or even expect to get a job?

  7. Poow, poow wittow unfortunate cowege gwads. Dey can't get a job as a senior executive, wit der worthless degwees.

    Welcome to the REAL WORLD!

    It's not about a piece of paper. It's about being willing to work and comporting yourself professionally, when you go on an interview.

    I'm one of the most unemployable people in the USA. But to prove how stupid this whole Occupy movement was, last year, I sent out one resume and in about two weeks, I was making 6 figures. But you know what? I discovered that I had forgotten how much I like work. So when the project that I was working on was canceled several months later and my job evaporated, I sent out two more resumes. Guess what? I'm working again. If a white male, over 60, who retired more than 10 years ago, can get NOT ONE, but TWO jobs in less than 8 months, then there is absolutely no excuse for some 25 year old kid to be complaining that he can't find a job.

    When I think of these "Occupy" kids, I'm reminded of Tony Joe White's description of Polk Salad Annie's daddy – "Lazy and No Count."

  8. Sue Barr says:

    And, why do these kids think they should automatically get wonderful, high paying jobs right after college?? I went to college – an in-state school that had tuition I could afford, worked while going to college and had relatively few bills after graduation. Thank the Lord that my parents made me get my college education that way. Even so, I started working as a Secretary back in the 60's (not much money to be made starting there) and over the years (I'm retired now) had other jobs/careers that paid pretty well and made it possible for me to support my two kids as a single mother. I don't know where kids and their parents get the idea today that they are "owed" a great job just because they blew money on a college education. Somebody needs to set both kids and parents straight that they don't automatically deserve anything – if they want it, get their butts busy and work hard to achieve it! As you can tell, I'm an old fogey – and probably a misfit in this new world we have!!!

  9. SpaceChief says:

    Life's tough. It's even tougher when you are stupid!- John Wayne. I guess no one realized how fast the tuition
    rates rose when the student loans provided by the government came into being. Colleges and universities
    quickly realized they now had the golden opportunity when that happened. The dumber of students thought
    that a college degree would open all kinds of doors for them. As Bob points out, businesses which hire only
    want producers, not dreamers. If students want decent paying employment, look for training in the trades.
    A two year associates certificate in the trades will provice a very comfortable living. Ever hire a plumber.
    electrician or carpenter? Paid through the nose didn't you?

  10. Colonialgirl says:

    Your reading comprehension skills are some what lacking; What was said was :

    "If the parents had known how to beat the system, they could have paid $15,000 total for their children’s B.A. degrees in the humanities. Their kids would have no debt.
    That would not change the job market, but it surely would change the student debt market."

    NOT that there were more jobs for majors in the humanities; Just that it would have COST LESS to get a degree than one in the sciences or engineering.. They still would have been burger flippers, waitresses and retail clerks.

    Far better to get am engineering degree which WILL lead to a higher paying job in the future.

  11. Ken Kirkham says:

    College grads are supposed to start at the bottom. They rarely have actually worked a day in their lives and need to be taught how to work. I stopped hiring college grads about 10 years ago as they tend to think they deserve high-paying jobs and expect to start at the top and are basically useless. I can train a high-school student to do the job easier than I can convince a college grad that they need to learn how to work first.

  12. Dark Patriot says:

    When I graduated college I was told that I was a white male and even though they could use my skills I couldn't be hired. Too bad I wasn't a minority. (Their words, not mine. I'm not white.) I ended up in education. Until the last year and a half every day was interesting. I enjoyed teaching and if I did my job right the kids got their money's worth. If I didn't, they would let me know very quickly and I would adapt. I watched the slow progression of dumbed down curriculums get dumbed down again or just not be completed. This happens when school boards don't understand what teachers are supposed to do; TEACH! Not raise the kids. They are already teenagers. Besides, does our dictator want kids who think? Where is his benefit? Eat your peas.

  13. In all fairness, college grads today are entering the world we Boomers made, and boy! have we screwed things up for everyone coming after us!

  14. Serenity Soul says:

    University and college today is a huge scam, making the elites and higher management wealthy. Many of the courses do not prepare you for real life jobs and are often just a series of fillers in order to spit the degrees out onto the assembly line. Governments place barriers on who can and cannot be hired and what regulatory bodies they must belong to and not-for-profit agencies often must comply in order to recieve government funding or even licencing. It's a shame that there are many qualified people with common sense and experience who have kept up with education and skills development, who cannot find work. Contract work is another culprit, forcing people to compete for jobs every year. What a lot of nonsense.

  15. When I went to college back in the 70's you could still actually work your way through with parttime work. Where in today's world is an undergraduate going to get a parttime job well-paying enough to offset the exorbitant cost of a college tuition. Face it, we Baby Boomers screwed the pooch for everyone, including our own kids.