I got an email from a friend with some interesting stats from Darren Hardy, the editor of Success Magazine. I can’t find the article online but here are the stats from her email:
- Of the 3 million college students who will graduate this month, nearly 85% or 2.4 million of them have to move back in with their mom and dad!
- The unemployment rate for the under-25 group is as high as 54%!
- The U.S. Bureau of Labor reports 12.8 million young people (under age 30) are either unemployed, working part-time or working at a job that doesn’t require a college degree – after spending tens of thousands to obtain one!
- Rick Raymond, of the College Parents of America, notes, “Graduates are not the first to be hired when the job markets begins to improve. We’re seeing shocking numbers of people with undergraduates degrees who can’t get work.”
- Sum finds that young adults without a college degree have been pushed out of the labor market entirely and are finding work at a lower rate than anytime since the end of World War II!
This is pretty scary stuff… of course, the point of putting it in Success Magazine, I’m guessing, is to figure out how to solve some of the issues… and maybe that means more entrepreneurs need to come out of this, or better personal branding (or, standing out from the crowd), or better networking…
I’m sure many of those recent grads didn’t think they went to school for 4+ years just to move back home and work an entry-level job.