Hold Onto Your Internships!

Posted on December 8, 2008
Filed Under Media, Reading List | By Ester Bloom

Here’s some chilling news to go with the holiday season: in this job market, as professional and business services, finance, and media and entertainment are all downsizing, college students are faring worse than high school dropouts.

In November the number of people with a higher degree who were out of work rose to 1.413 million from 1.411 million in the previous month, according to the Bureau of Labor Statistics. Comparatively, there were 1.282 million unemployed high school dropouts, up slightly from 1.273 million in October.

Still, the news for recent grads isn’t all grim:

the unemployment rate among those with a higher degree held steady at 3.1% in November. The overall unemployment rate rose to 6.7% from 6.5% in October.

Your diploma might not be the fireproof shield it once was, but it still works pretty well. And if you’re tired of being stuck in the unemployed 3.1%, or freaked out that that’s where you’ll end up, well, that’s why God invented grad school.

(Source: CNN)

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2 Responses to “Hold Onto Your Internships!”

  1. maden79 on December 15th, 2008 4:49 am

    It’s really going to be a rough ride for a while for students…but there are some great free ways you can get an edge. One is to build a professional identity online - one free service is http://www.nuresume.com which lets you post what position you are looking for as well as get alerts for matching internships and jobs.

  2. Grad School, Half Off! : theprereq.com on December 16th, 2008 5:16 pm

    […] joked earlier about laid-off or frustrated young job seekers taking refuge in grad school until the recession passes, as a sort of Duck and Cover strategy. Apparently St. John’s […]

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