1 in 2 new college graduates are jobless or underemployed
College graduates who majored in zoology, anthropology, philosophy, art history and humanities were among the least likely to find jobs appropriate to their education level; those with nursing, teaching, accounting or computer science degrees were among the most likely.
In Nevada, where unemployment is the highest in the nation, Class of 2012 college seniors recently expressed feelings ranging from anxiety and fear to cautious optimism about what lies ahead.
With the state's economy languishing in an extended housing bust, a lot of young graduates have shown up at job placement centers in tears.
Many have been squeezed out of jobs by more experienced workers, job counselors said, and are now having to explain to prospective employers the time gaps in their resumes.
"It's kind of scary," said Cameron Bawden, 22, who is graduating from University of Nevada-Las Vegas in December with a business degree.
His family has warned him for years about the job market, so he has been building his resume by working part time on the Las Vegas Strip as a food runner and doing a marketing internship with a local airline.
Bawden said his friends who have graduated are either unemployed or working along the Vegas Strip in service jobs that don't require degrees.
"There are so few jobs and it's a small city," he said. "It's all about who you know." Any job gains are going mostly to workers at the top and bottom of the wage scale, at the expense of middle-income jobs commonly held by bachelor's degree holders.
By some studies, up to 95 percent of positions lost during the economic recovery occurred in middle-income occupations such as bank tellers, the type of job not expected to return in a more high-tech age.
David Neumark, an economist at the University of California-Irvine, said a bachelor's degree can have benefits that aren't fully reflected in the government's labor data. He said even for lower-skilled jobs such as waitress or cashier, employers tend to value bachelor's degree-holders more highly than high-school graduates, paying them more for the same work and offering promotions.
In addition, U.S. workers increasingly may need to consider their position in a global economy, where they must compete with educated foreign-born residents for jobs.
Longer-term government projections also may fail to consider "degree inflation," a growing ubiquity of bachelor's degrees that could make them more commonplace in lower-wage jobs but inadequate for higher-wage ones.
That future may be now for Kelman Edwards Jr., 24, of Murfreesboro, Tenn., who is waiting to see the returns on his college education. After earning a biology degree last May, the only job he could find was as a construction worker for five months before he quit to focus on finding a job in his academic field.
He applied for positions in laboratories but was told they were looking for people with specialized certifications.
"I thought that me having a biology degree was a gold ticket for me getting into places, but every other job wants you to have previous history in the field," he said.
Edwards, who has about $5,500 in student debt, recently met with a career counselor at Middle Tennessee State University. The counselor's main advice: Pursue further education.
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