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Welcome To The Real World 2010 College Graduates – Nobody Wants To Hire You

This is the time of year when hundreds of thousands of young Americans graduate from institutions of higher learning all across the United States.  This horde of fresh-faced young Americans is full of knowledge and ambition and is ready to get good jobs and start living the American Dream.  But there is only one problem.  There are not nearly enough good jobs for them.  In fact, there have not been nearly enough good jobs for college graduates for a number of years.  As a result, record numbers of college graduates are moving back in with mommy and daddy and are taking jobs as Wal-Mart greeters, Chinese food delivery people and video store clerks.  But it is tough to blame them when the job openings simply are not there.  It is hard to describe how depressing it can be for a young person to send out dozens of resumes day after day and not receive a single positive response.  The reality is that the real world is a lot different from the safe environment of college.  In fact, 2010 college graduates are finding out that the real world can be downright cruel.

Many parents end up becoming incredibly frustrated when their college-educated children cannot get a decent job, but the reality is that the vast majority of college graduates are struggling right now.  In a piece recently published on MSN Money, Joe Queenan described the environment that 2010 college graduates are being thrown into as they enter the real world….

They will enter an economy where roughly 17% of people aged 20 through 24 do not have a job, and where two million college graduates are unemployed. They will enter a world where they will compete tooth and nail for jobs as waitresses, pizza delivery men, file clerks, bouncers, trainee busboys, assistant baristas, interns at bodegas.

Things are not pretty out there.

According to the Bureau of Labor Statistics, in March the national rate of unemployment in the United States was 9.7%, but for Americans younger than 25 it was 18.8%.  In fact, according to a Pew Research Center study, approximately 37% of all Americans between the ages of 18 and 29 have either been unemployed or underemployed at some point during the recession.

So if you are a young American that cannot get a decent job you are far from alone.

And unfortunately, America is looking to this new generation of college graduates as the generation that will pay for all of our national financial mistakes.  The U.S. national debt has just passed the 13 trillion dollar mark, and the Social Security system is facing massive shortfalls in the years ahead.  America has piled up the biggest mountains of government, business and consumer debt in the history of the world, and now the bills are coming due.

So who is expected to pay for this mess?

Generation Y.

In his recent piece, Joe Queenan described it this way….

The legacy costs that society has imposed on young people will be a millstone around their necks for decades. Who’s going to pay for the health care bill? Gen Y. Who’s going to pay off the federal deficit? Gen Y. Who’s going to fund all those cops’ and teachers’ and firemen’s pensions? Gen Y. Who’s going to support baby boomers as they suck the Social Security system dry while wheezing around Tuscany? Gen Y.

Now, one would think that anyone younger than 30 would be more than a little peeved about the legacy of debt that we have left to them.

Well, the truth is that a lot of them are, and it is not only folks under 30.

According to a new poll, seven in ten Americans are dissatisfied with the way things are going in Washington D.C., and 22 percent say that they are downright “angry” about the direction the U.S. is headed.

There is a rapidly growing anger that is sweeping the nation as millions of Americans have begun realizing what a fine mess the folks in D.C. have gotten us into.

Unfortunately, the financial problems of the U.S. are accelerating at a staggering pace.  The U.S. government is projected to run a 1.6 trillion dollar deficit this year, which is about four times higher than deficits were typically running during the Bush administration.

That is beyond catastrophic – that is downright nightmarish.

Weren’t we supposed to be creating a better life for the generations to follow?

Instead, we have left them with a debt burden that will haunt them for the rest of our lives.  Because of our endless appetite for debt, we have squandered the wealth that our forefathers left us and we have ruined the greatest economic machine that the world has ever seen.

Now we are leaving future generations a financial mess that seems virtually impossible to solve under the current system.

So if they seem a bit upset, please try to be understanding.

They have a very good reason to be angry with us.

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  • Greg

    Twenty years ago while I was picketing an abortion clinic a baby boomer woman ten years older than me got in my face with her pro-death sign and berated me for my opposition to “a woman’s right to choose”. I told her that this generation of babies that were being slaughtered at will would rise up and demand that she be terminated. That prophecy was years before our current financial implosion and long before Obamacare. Now we see in today’s news that Obama has appointed Dr. Donald Berwick, an outspoken admirer of the British National Health Service and its rationing arm, the National Institute for Clinical Effectiveness (NICE). We are rapidly approaching the day that my generation is going to be killed. The law of sowing and reaping is God’s law and my wicked baby boomer generation has done a lot of sowing!

  • Ken

    It’s a good thing that the compassionate Bill Clinton had the wisdom and foresight to refinance the national debt with 30 year bonds. What? He didn’t? That’s right, he refinanced with 10 year bonds to get his bogus surplus.

  • Gary

    All we have left are mostly low paying crap service sector jobs. Thanks to years of all right and some left politicians letting the greedy corporations ship all the good jobs overseas this is what we are left with. All so a bunch of greedy CEO’s can get a bigger bonus. There is now a small number of “haves” and a huge number of “have nots”. Socialism is the answer, capitalism is the problem.

  • Kevin

    The prospects are dire indeed. It becomes even more bleak when you consider student loan debt. It’s one thing to graduate and lack the ability to find work. It is an entirely more malicious prospect when you add $30 – 40,000 in debt into the equation. The government estimates that the average graduate leaves university with $20,000 owed, from experience (myself and friends) it is much higher.

    The problem is that institutions of higher learning do not have any incentive whatsoever in lowering tuition. Why? Because if they raise it, students will simply take out more loans to cover the difference. What we have in higher education is eerily similar to what occurred in the housing market: loose lending standards and too much access to easy money. You want the cost of higher education to go down, tighten lending practices. This may sound hypocritical coming from someone who funded their secondary education via these practices, but inevitably it is the only way to force colleges to bring their tuition rates in line with reality.

  • Concerned Reader

    I read this forum all the time and I am a 21-year-old college student myself. FRankley I do no see much employment opprotunities available right now. The counsoulers at my high school always told us to get in to the “Med-ED” professions because that was where all the jobs are currently being made. But with this healthcare bill being passed I forsee the collapse of our hospital industry which means no medical jobs for college graduates. The same goes for education, most teachers quit within the first year of employment and with the ever growing number of high school drop outs and illiterate students there just does not seem that much of a lucrative buisness.

    The same goes for engineering and software employment. Because of the large abundance of Chinese and Indian labor tech firms and aircraft enginnering companies would rather hire these foreign students becuase they have a better work ethic and they have no liabilities unlike the American graduates. These guys will work harder for less money and their presecence impedes American students from gainig employment status.

    As for myself, I am not sure what to go to college for any way. My funds are nearly depleted and my father wants me to take out student loans to continue my education. I constantly argue with him becasue I know that the student loan industry is just another big bank scheme such as credit cards and home loans. I told him I might as well take out a loan on a $300,000 house and max out three or four credit cards rather than take out student loans. I will benefit in the long run if I do not take student loans.

    There are several reasons why tutition is skyrocketing. First is the growing demand for limited space in the colleges. Thousands of people are applying to colleges in an attempt to keep up with the jones and any one from high school graduates to middle aged people and retirees are joining in record numbers. Secondly, you take a local or state university and they have to have all kinds of bells and whistles in regards to sports. They have to have huge stadiums and tracks and what not. This stuff costs money, both for the college and the sponsors who charge the university. The bills for this stuff are then redistributed towards the students in higher tuition bills.

  • http://www.pathtoasia.com Zack

    The unemployment rate for recent college grads (2009) is about 25%. I shudder to think of what it will be for the 2010 grads based on the pathetic jobs report that came out on Friday. If I were in their shoes, I’d look for a job abroad.

    My company http://www.pathtoasia.com, helps Americans move to Asia. Check us out and receive a free consultation.

  • Uh Oh Greg

    Uh oh, Greg! You forgot to take your meds!

  • Kate

    I just graduated college in May… Moved to a new state and am now living with my boyfriend who should not and cannot continue to have to pay everything because i just plain can’t get a job.

    I’m over qualified for retail survivor jobs… so I lie on my application. But then retail stores just plain don’t hire full time. So even if I could get a job as a cashier someplace… I’d only work enough hours to maybe pay for my car payment/ car insurrance/ gas…. and my half of rent/electric and such is out of the question… not to mention charged to the limit credit cards from being unemployed and student loans that will hit in just a matter of months.

    Any other jobs either don’t exist or they just ALL want 5 years professional experience…. which is impossible for someone who just graduated and has been working part time retail jobs since high school.

    AND internships are unpaid or only for college students so thats out of the question….

    But the fact of the matter is that jobs don’t care about education in the least bit if you don’t have the real professional work experience to back it up.

  • http://www.turningpointsolutionsusa.com Debbie Rocco

    We can help. If you are in college or a recent college graduate TPS USA offers professional coaching services at very reasonable prices. Some of the things we will work with you on include:
    - Goal Setting
    - Practice Interviews
    - Resume Review
    - Job Search Strategies
    - Networking Strategies (KEY)
    - Support System
    We are different than the ‘career center’ at your college. We actually care if you land a job. We actually understand what it takes to land a well paid position (chances are the guy who works in your career center has zero real world experience). We will work with you one on one until you realize your goals. The American Dream still exists. Don’t give up. Good luck! http://www.turningpointsolutionsusa.com
    debbie@turningpointsolutionsusa.com

  • http://www.silentnomorepublications.com Tim Dowty

    There is a reaon our economy is so horrible. I don’t think our economy can ever really be healthy again given
    the debt we’ve racked up. And we will never handle our
    atrocious debt until we address our corrupt monetary system.
    At the heart of this is the Federal Reserve.
    Watch this and pass it on.

    http://www.youtube.com/watch?v=c5Yf3FCZ5FY

  • kitty

    I’M a jamaican and i can see why i’m encouraged to pursue a skill which i can become good at n make my own money.