Millions of Americans are seeing little return from their expensive college degrees — even in today’s hot job market.
For the first time in decades, recent college graduates are more likely to be out of work than the population as a whole, according to the New York Federal Reserve. And for the lower-earning half of college grads, the wage premium is shrinking fast.
Unemployment among Americans ages 22 to 27 who recently earned a bachelor’s degree or higher was 3.9% in December — about 0.3 percentage point above the rate for all workers.
It’s another worrying sign for a generation that borrowed record amounts of money to get through higher education as the cost of tuition soared. The $1.6 trillion in U.S. student debt, which has doubled in the last decade, is weighing on the economy and spurring politicians to offer fixes as diverse as targeted aid and across-the-board forgiveness.
Chosen excerpts by Job Market Monitor. Read the whole story @ The job market is hot. So why are half of U.S. grads missing out? – Los Angeles Times