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Home Publications Blogs Beat the Press It May Not Be That Easy for College Grads to Get a Job

It May Not Be That Easy for College Grads to Get a Job

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Wednesday, 27 February 2013 05:29

The NYT had a very good piece on how government cutbacks in spending and employment have slowed the recovery. At one point it presents the view of Tyler Cowen, an economics professor at George Mason University, that:

"military contractors and personnel might be able to find new jobs with relative ease, because unemployment rates are fairly low for well-educated workers."

While workers with college degrees do have lower unemployment rates than less educated workers, the current unemployment rate is close to twice its pre-recession level.

Unemployment Rate for College Graduates

[Unemployment Rate for People With at Least a College Degree. Source: Bureau of Labor Statistics.]

 Source: Bureau of Labor Statistics.

 

Note: Typo corrected.

Comments (3)Add Comment
Cowen
written by Scot Johnson, February 27, 2013 6:56
Tyler Cowen's last name is spelled with an "e" not an "a".
Spelling
written by David, February 27, 2013 8:01
Tyler: what a maroon. Does he really think employers in this labor climate are going to pay a salary premium for experienced workers when the market is flooded with young graduates and when the employers can just import cheaper labor from abroad? Another 'expert'?
UE - closer look
written by Frank de Libero, February 27, 2013 1:03
A more detailed look at the statistics gives a more solemn picture. Using BLS annual data, the UE rate in 2012 for bachelor's only (no advanced degree) is 4.5%. That's an uptick. Using unpublished BLS data the UE rate for recent graduates (designated as age 20-24) is 7.8%! That's almost the same as the overall 2012 average of 8.1% More at http://www.lettingthedataspeak...oser-look/

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About Beat the Press

Dean Baker is co-director of the Center for Economic and Policy Research in Washington, D.C. He is the author of several books, his latest being The End of Loser Liberalism: Making Markets Progressive. Read more about Dean.

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