Class of 2013 faces grim job prospects
By Annalyn Kurtz, CNNMoney
New York (CNNMoney) - The class of 2013 will face an "extremely difficult" job market when college students graduate in the months ahead, according to a new research report.
Unemployment remains high for young college grads. For those who will find jobs, many will probably have to settle for low-level positions, the Economic Policy Institute said Wednesday.
The unemployment rate for recent college grads between the ages of 21 to 24 has averaged 8.8% over the last year, according to Labor Department data.
Once you also include young grads who are working part-time for economic reasons, and those who have stopped looking for a job in the last year, the so-called "underemployment rate" is a whopping 18.3%.
Sure, the job market has improved during the past few years. But both these rates remain higher than pre-recession levels.
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Wow. This can't be further from the truth at Michigan Technological University (www.mtu.edu). Our students are getting placed at a 96+% rate in great jobs in their professional fields.
Our career fair attendance has been climbing the past few years (http://www.career.mtu.edu/general/placement/data/careerfair/fallcareerfair.php) and is back to pre-recession levels.
There is a shortage of students in Science, Technology, Engineering, and Math fields and these grads will be in high demand for years to come.