Job Market for College Grads Better but Still Weak
WASHINGTON (PAUL WISEMAN, AP Economics Writer) — The job market for new college graduates is brightening but remains weaker than before the Great Recession began.
The Labor Department reports that the unemployment rate for 2013 college graduates — defined as those ages 20 to 29 who earned a four-year or advanced degree — was 10.9 percent. That was down from 13.3 percent in 2012 and was the lowest rate since 7.7 percent in 2007.
Female graduates fared better than men: 9 percent were unemployed as of October last year, compared with 13.7 percent of men. The economy has been generating jobs in many low-wage fields — such as retail and hotels — that disproportionately employ women.
Unemployment for recent grads was slightly above the overall 9.6 percent rate for Americans ages 20 to 29 in October.