According to the Center of Labor Market Studies at Northeastern University just one in two graduates of the class of 2012 are finding jobs.
"Simply put, we're failing kids coming out of college," said [Andrew Sum, director of the Center for Labor Market Studies at Northeastern University], 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."
About 1.5 million, or 53.6 percent, of bachelor's degree-holders under the age of 25 last year were jobless or underemployed, the highest share in at least 11 years. In 2000, the share was at a low of 41 percent, before the dot-com bust erased job gains for college graduates in the telecommunications and IT fields.
Out of the 1.5 million who languished in the job market, about half were underemployed, an increase from the previous year. more
Here's The Real Reason Marine Le-Pen Should Scare The Crap Out Of EuropeJoe Weisenthal | 4.23.12
So the big story to come out of the French election yesterday was the strong showing of right-winger Marine Le-Pen, the anti-immigrant Euroskeptic who came in 3rd place.
She won't be in the runoff vote, but because she (theoretically) represents a large bloc of conservative voters, people expect Sarkozy to tack in her direction between now and the runoff on May 6.
But regardless of the way the May 6 election goes, or how Sarkozy panders between now and then, that's not really the big issue.
The big issue is that Marine Le-Pen was wildly popular among youth voters according to pre-election polls. According to one poll in early April, Le-Pen was winning among 18-24 year old voters.
When the future of rich European country like France is so strongly in favor of a Euroskeptic the political establishment around the Eurozone has to be pretty terrified.
Between this news, and the well-known youth unemployment problems in Spain and elsewhere, it's hard not to see how Europe is blowing it for an entire generation. more
Tuesday, April 24, 2012
Lot of highly motivated, highly talented kids out there without much to do. They could cause a great deal of social unrest before this is over.