A college degree is the key to prosperity, right?  Not if we offshore our economy.  Less than half of 2008 college grads found a job requiring a college degree.

New monthly survey data from the Center for Labor Market Studies at Northeastern University in Boston finds that during the first four months of 2009, less than half of the nation's 4 million college graduates age 25 and under were working in jobs that required a college degree. That's down from 54 percent for same period last year.

''I've never seen it this low and we've been analyzing this stuff for over 20 years," said center director Andrew Sum.

Oh, well.  The economy will improve and they'll be ok.  Right?

Wrong.  First, our recoveries don't produce jobs anymore when we offshore.  Second, you just don't catch up with the out-of-the-gate job search stumble.

Sum of Northeastern University said college grads who begin their careers in lower-paying jobs below their education level often take seven to nine years to catch the earnings of fellow grads who start out at jobs that require a college degree.

"It's a long lag before you recover. It does not go away," Sum said. "The older you get, the bigger the losses become. It haunts you dramatically."

It is a national imperative to produce things here.  You cannot create wealth without an economy that makes and grows things.

TrackBack URI for this entry

Comments (0)

Subscribe to this comment's feed

Write comment

Name

Title

Comment

smaller | bigger

Subscribe via email (Registered users only)

I have read and agree to the Terms of Usage.

Add Comment Preview