Unemployed Despite Your College Degree? Here is Your New Reality...

September 11th 2014

Alece Oxendine

According to the Bureau of Labor Statistics, employers added only 142,000 new workers to their pay rolls last month--the first time since January that job creation fell below 200,000. This is obviously not good but what's worse is that there are about 3 million Americans between the ages of 25-54 who have dropped out of the workforce entirely. Who are they? Long-term unemployed (people jobless for more than 36 weeks) whose benefits were cut after Congress still hasn't extended Emergency Unemployment Insurance. Many stopped going to the website to file for benefits. At one point, myself included. Measuring the number of unemployed Americans is an arduous process so there's a chance that the current unemployment rate could be way off, as it does not account for the workforce who have given up on finding jobs. 

I wonder: have people in our generation completely given up on finding work? Despite abysmal statistics about our generation, we still pretty hopeful about our future. But the reality is that the job market still sucks right now. 

Are you looking/applying for jobs? 

The struggle is real. Keep your head up and I hope this advice helps: instead of applying to the big companies, your best bet may be smaller businesses and start-ups, especially those run by people in our generation. A Capital One survey found that millennial-owned small businesses plan to hire 45% new employees over the next six months.

Going for an interview? 

Just watch this video. (Excuse me while I silently sob in a corner at how real this is...)

You have a job!

Congratulations! Now you can pay back all that student loan debt. Good luck