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.