New York Times to College Grads: Your Future Is Bleak

graduation

These fools are only throwing their caps because they haven't read the newspaper yet.

For those of you looking forward to celebrating your new shiny diploma, the New York Times suggests you may want to try selling it for food instead. Granted, it’s no fun graduating from college in a recession. Unemployed Ivy Leaguers have been known to speak in tween and sell cashmere in their unbridled free time, and some truly unruly kids have even started blogging for desperation’s sake!

But even though many signs suggest to a slow but steady recovery, the NYT brings us back to wrist-slitting reality with an editorial chastising the government for not doing more to ensure that young America has hope for finding employment.

Commencement is supposed to be filled with hope, but for the class of 2010, these are grim times. Over the past year, the unemployment rate for college graduates under age 25 has averaged 9.1 percent. For the roughly half of high school graduates under 25 and not in college, the average is 22.8 percent.

The Times does a good job of summarizing all the issues last year’s grads have been trying to avoid:

Where you start out in your career has a big impact on where you end up. When jobs are scarce, more college grads start out in lower-level jobs with lower starting salaries. Academic research suggests that for many of these graduates, that correlates to overall lower levels of career attainment and lower lifetime earnings. […] For many undergraduates, especially those with large student debts, graduate school would be prohibitively expensive.

So naive college grads, enjoy the free champagne and fromage while it lasts. Soon, you’ll be eating carbs out of a box and wishing you majored in something useful.

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12 thoughts on “New York Times to College Grads: Your Future Is Bleak

  1. How sad. Well, good thing I’m just starting college. I’m sticking with a science degree – I can see that a degree in business is proving to be even more useless than previously estimated!

    • Oh boy Jim.. I feel for you I hope some one here can give you some assistance.Why doesn’t she look for any sort of job? Like at a surpemarket being a cashier so some sort of part time job to help out . and perhaps you can get a part time second job.How about selling some things from your apartment/home to gain some income. Can relatives help?

  2. Haha, just know that in science you have to go to grad school, no if ands or buts. Otherwise, have fun making 40k working in some lab filling test-tubes. (that’s you bio/chem!)

    • Graduate school is paid for in Science. I am a senior at UC Berkeley and I make $23/hr working in a lab and going to school so the “have fun washing test tubes” is a false assumption of how valuable Science students are…I have my own project and we hire people for cleaning.

      • Tracy Smith2008Scarier still the new unemployment rates that were just reeeasld and the dependency on GM. Its sad that we are now left with hospitality and a few public employees.

  3. haha, you got that wrong. 40k is what you get after grad school, unless you go into the industry, where you get higher pay but you’re fired every month or so…

  4. Please read “Lynchpin” by Seth Godin and create some value in the world. I’m sorry, no one is going to be handing you a job anytime soon. I started my own company and have clients who pay me…and I graduated 2 years ago from undergrad.

    Grow up.

    • Create some value? Keep selling t-shirts wholesale you derelict. Your attitude will inevitably cause you to FAIL at whatever it is you chose to do. How pathetic.

  5. Pingback: Avoid these schools unless you have at least $400 million in the bank « Ivy Leagued and Unemployed

  6. Pingback: Now would be a good time to dust off that Ivy League degree | Ivy Leagued and Unemployed

  7. Pingback: Student loan debt keeps America’s youth stunted in childhood | Ivy Leagued and Unemployed

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