A Bachelor’s Degree, But No Job

Posted on November 15, 2011 by


October 2, 2011 by odharris | Edit

Is America going to get worse before our economy starts seeing a healthy financial future? The Guardian, an international newspaper out of the UK, says that the worst has yet to come.

Since the start of the Great Recession at the end of 2007, the potential labor force of the United States – that is, working-age people who want jobs – has grown by over 7 million. But since then, the number of Americans who actually have jobs has shrunk by more than 300,000. In other words, we’re in a deep hole – and the hole is deepening. In August, the United States created no jobs at all. Zero. The problem is on the demand side. Consumers (whose spending is 70% of the economy) can’t boost the American economy on their own. They’re still too burdened by debt, especially on homes that are worth less than their mortgages. In addition, their jobs are disappearing, their pay is dropping, their medical bills are soaring. Businesses, for their part, won’t hire without more sales. So we’re in a vicious cycle. The question is what to do about it.

Following up on last week’s blog, “Life After College,” this blog is giving evidence that a degree is becoming overwhelmingly useless. In other words, if it is up to college graduates, which should be our first line of defense against financial failure, we will be screwed. College graduates are coming out of college with thousands of dollars in debt and, as the Guardian states, no jobs being created. So now we’re not only looking at working-age people, but also millions of college graduates adding to America’s debt with school debt of their own and no jobs to fund the repayment of these loans which will result in even less consumer spending. Life after college is more serious than just looking for a job, life after college disappearing more by each day as our economy continues to fail with no sign of rescue from the government, consumers, or job availability.

We, as college students looking for a successful future after graduation, need to start preparing today before we graduate. We have to realize today that our future degree may hold no weight in the business industry and find alternate routes of travel toward succession before we graduate. We may, whether you accept the fact or not, a great factor in our countries future and likewise, our country’s economy is a great factor in our success as a college graduate. What do we do when our degree fails to land us a successful career?

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