Where are the Jobs? For College Graduates, American Dream in Jeopardy President Obama speaks eloquently about how his own education helped him achieve the American Dream, declaring in a commencement speech to Booker T. Washington High School in Memphis this week that “I’m standing here as President because of the education that I received.” But for the college graduates of today – many of whom are receiving their diplomas this month – the American Dream is in jeopardy. The front page of today’s New York Times lays out the economic reality confronting recent college graduates: “Now evidence is emerging that the damage wrought by the sour economy is more widespread than just a few careers led astray or postponed. Even for college graduates — the people who were most protected from the slings and arrows of recession — the outlook is rather bleak. Employment rates for new college graduates have fallen sharply in the last two years, as have starting salaries for those who can find work.... Among the members of the class of 2010, just 56 percent had held at least one job by this spring....That compares with 90 percent of graduates from the classes of 2006 and 2007.” ABC News Radio reported yesterday that “College graduates are having a tough time finding jobs, according to a new survey by Rutgers University....The study found that one in every seven students didn't even bother entering the jobs market during the economic downturn.” The Rutgers survey’s findings are disheartening, and reflect the dismal record of job creation under the Obama Administration: “Between a quarter and one-third of graduating students made significant accommodations in order to get their first job. One third took a job that paid a lot less than they expected to earn after they graduated... “One of the tenets of the American dream is that everyone has it in their own power to succeed. The Heldrich Center’s 2010 study of unemployed Americans showed just how much that belief has eroded… The vast majority expects their generation will not do better than the one that came before them….More than half (56%) believe people in their generation will do less well than the one that came immediately before them. When one includes those who say they expect to do only just as well, just 17% of recent college graduates expect to do better than their parents’ generation.” President Obama keeps saying that we need to “win the future” – but for the college graduates of today, the future under the current Administration’s policies looks pretty grim. To protect the American Dream for our kids and grandkids, Washington needs to stop the spending binge that’s been going on for far too long and put an end to the economic uncertainty that’s been plaguing job-creators for the past two years. READ MORE:

Brophy Sunday 22 July 2012 - 07:59 am | | Brophy Blog

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