It’s been a tumultuous for the economy in the half-week since we launched The Real Recovery: unemployment benefits were extended and then October’s unemployment numbers hit over 10 percent. It seems like just the right time to get to the real stories behind the economic stats.
Each week on The Real Recovery we’re going to ask a big question – and then spend the week figuring out the answer with your help. For next week – we’re looking at those entering the job market for the very first time.
If a tenth of America is unemployed – how hard is it going to be for recent college graduates to get jobs? For college seniors who expect to graduate in 2010? From the National Bureau of Economic Research: “The Career Effects Of Graduating In A Recession”:
Graduating in a recession leads to large initial earnings losses. These losses, which amount to about 9 percent of annual earnings in the initial stage, eventually recede, but slowly — halving within five years but not disappearing until about ten years after graduation.
Starting Monday – we’re going to focus on college graduates. Here’s how you can get involved:
Are you a college senior?: Post a story on The Real Recovery about your job search. Do you have something lined up? Are you just trying not to think about it?
Did you graduate this year?: How’s it been out there in the job market? Have you been able to find work?
Did you graduate years ago?: How was your experience in the economic climate you had? How does it compare to today’s?
You can post your story to Current by clicking the “Post a Story” button on The Real Recovery group page and then just start typing!
And also, if you want to get involved as an investigator – send me a message on Current.
November 6th, 2009 at 2:29 PM
[...] This post was mentioned on Twitter by Andrew@Current News and mario at current, Lauren Gruenbaum. Lauren Gruenbaum said: RT @current_news Hey college students and recent grads – next week The Real Recovery is all about you: http://ow.ly/zWMz [...]
November 13th, 2009 at 8:42 AM
Who would have known six months would fly so fast!! I am so glad that this issue is being brought to light, because it allows the opportunity to vent frustrations of a vast majority of individuals. This past may I earned my BS in psychology, a goal that took me five years to accomplish. As quick as I was ready to complete my education, I did not take into account the fact that I would be graduating in a recession. I was an out of state student and I returned back home to San Francisco to start a new in efforts to re-establish myself in society. As far as the job market is concerned, I have not had the best of luck in obtaining employment. I’ve literally been searching for jobs continuously for the past six months and out of the hundreds of jobs applied to I’ve only been granted three to four interviews. I know the completion is there and there are people who are over qualified for jobs but have to settle for what they can get because it’s all there is.
Personally, I’m currently not happy with my situation, don’t get me wrong I know my next job isn’t going to be handed to me but at the same time I did not think I would have to nearly kill myself to gain employment. In efforts to have some form of income I applied for general assistance and now I am subjected to cheap labor by the city of San Francisco. I have to pick up trash around the city and this feels a little degrading to me just because I know my capabilities and the qualifications I have behind my belt.
Next month I am expected to start paying back my school loans, $32,000 to be exact. If I don’t gain employment in between now and next month, I am going to have serious problems. I feel that as college graduates we should be met half way in the job market. It takes hard work and dedication to go to, go through, and actually finish college. I can go on and on all day about this problem but I think I have made a few valid points. I hope this recession will soon pass so I can feel like the time I put into my education will reflect my future wealth, because right now it’s just a $30,000 piece of paper.
Thank you for allowing me to discuss my real recovery