Once again, June has come and gone–and, with it, an annual rite of passage for tens of thousands of college students: Graduation.
That occasion when young innocents formally leave the academic nest to make their way into the harsh realities of the work
Among those harsh realities: The average college graduate faces a debt loan of more than $29,400.
Click here: Average student loan debt: $29,400 – Dec. 4, 2013
But wait! There’s something even more demoralizing awaiting these “heirs of tomorrow.”
The discovery that, for all the “we hire only the brightest” rhetoric by employers, having a college degree actually means little to most CEOs.
A new report from the Center for College Affordability and Productivity concludes that nearly half of the nation’s recent college graduates hold jobs that don’t require a degree.
In short, many of the jobs they hold aren’t worth the price of that diploma.
From that report:
Increasing numbers of recent college graduates are ending up in relatively low-skilled jobs that, historically, have gone to those with lower levels of educational attainment. This study examines this phenomenon in some detail, concluding:
- About 48 percent of employed U.S. college graduates are in jobs that the Bureau of Labor Statistics (BLS) suggests requires less than a four-year college education. Eleven percent of employed college graduates are in occupations requiring more than a high-school diploma but less than a bachelor’s, and 37 percent are in occupations requiring no more than a high-school diploma;
- The proportion of overeducated workers in occupations appears to have grown substantially; in 1970, fewer than one percent of taxi drivers and two percent of firefighters had college degrees, while now more than 15 percent do in both jobs;
- About five million college graduates are in jobs the BLS says require less than a high-school education;
Click here: Underemployment of College Graduates
But the future isn’t completely bleak–at least not for women willing to transform themselves into glorified babysitters for obscenely-rich families.
Consider a recent post on Facebook by AC Connections, which describes itself as “a nanny and household placement agency.”
Under the headline, “Growing Nanny Industry Is Enticing More College Graduates,” the ad/article begins:
“As more college graduates leave school and struggle to find work, they’re turning to the nanny industry.
“Many working moms love the idea of a highly-educated, experienced nanny providing individualized care for their children in their own homes. But it can come with a substantial price tag.
“In this challenging economic climate, more college graduates are finding a little spoonful of sugar in the burgeoning nanny industry.
“These ‘modern day Mary Poppinses’ are educated, experienced, and in increasingly high demand.”
The International Nanny Association claims that the average salary is about $16 an hour.
The ad asserts that “highly qualified and educated nannies in certain locations can make $100,000 or more each year. It’s not uncommon for nannies to start out with salaries comparable to entry-level finance careers.”
Click here: Growing Nanny Industry Is Enticing More College Graduates
Besides the money, says the ad, there are other reasons for becoming a nanny:
“Many love working with children, want a chance to use their college education, or enjoy the role of caretaker.”
“A chance to use their college education”? As in cleaning up spills, changing diapers and feeding baby food to infants?
So if you’re a college graduate who can’t convince an employer within your chosen profession–such as pharmacy or engineering–to hire you, there’s always the Mary Poppins option.
Or some similar menial “career” that caters to the indulgences of the American plutocracy, for whom $16 an hour amounts to a Snicker’s candy bar for the fast-disappearing middle class.
It should be enough to make you hesitate before signing up for a loan to cover the average $57,000 cost of a public college education.
Or an even larger loan to cover the $132,000 cost of a private college education.
But if you’re still thinking that “employers really respect that degree,” consider this: Job recruiters spend exactly six seconds examining your resume.
According to The Ladders research, recruiters spend an average of “six seconds before they make the initial ‘fit or not fit’ decision” to interview you.
Not hire you–just meet you. You’ll still have plenty of chances to get shot down during or after the interview.
Click here: What Recruiters Look At During The 6 Seconds They Spend On Your Resume
According to the study, when scanning a resume, recruiters looked at the following items:
-
Your name
- Current title and company
- Current position start and end dates
- Previous title and company
- Previous position start and end dates
- Education
American employers should be legally compelled to hire as responsibly as college students are expected to pursue an education.
Until this happens, those young men and women thinking of committing a big chunk of their time and going into massive debt to pursue a college degree should think twice before doing so.


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HOW TO DESTROY–AND CREATE–JOBS: PART ONE (OF THREE)
In Bureaucracy, History, Law, Politics, Social commentary on April 22, 2015 at 12:10 amRepublicans, always ready to attack President Barack Obama, have found a new cause for blame: Obama is responsible for increased inequality.
“Frankly, the president’s policies have made income inequality worse,” House Speaker John Boehner said on CBS’s “60 Minutes” in January.
And he blamed Obamacare for the growing inequality:
“All the regulations that are coming out of Washington make it more difficult for employers to hire more people, chief amongst those, I would argue is Obamacare–which basically puts a penalty or a tax on employers for every new job they create.”
Even Mitt Romney has suddenly discovered that millions of Americans are suffering from income inequality.
Yes, that Mitt Romney–who famously said during his 2012 campaign for President: “Corporations are people, my friend”; “I like being able to fire people”; and “I’m not concerned about the very poor.”
“Under President Obama, the rich have gotten richer, income inequality has gotten worse and there are more people in poverty than ever before,” Romney told a crowd of Republican National Committee members in January.
Mitt Romney speaking on the USS Midway
“Their liberal policies are good every four years for a campaign, but they don’t get the job done,” he said from the deck of the USS Midway in San Diego.
“The only policies that will reach into the hearts of the American people and pull people out of poverty and break the cycle of poverty are Republican principles, conservative principles.”
Click here: The reinvention of Mitt Romney – Edward-Isaac Dovere – POLITICO
But syndicated political columnist Mark Shields has another reason for why millions of Americans can’t find jobs–or jobs that pay a living wage.
His culprit: International trade agreements.
Mark Shields
“They have been a disaster for American workers, a total disaster, beginning with NAFTA,” said Shields on the April 17 edition of the PBS Newshour.
“They have put all the power in the hands of the employer.
“The employer threatens, if you don’t go along, if you don’t surrender your bargaining rights, if you don’t surrender your health and pension benefits, if you don’t surrender collective union membership, we will move your job overseas.
“And as consequence of NAFTA some 22 years ago, documented by our own government, 755,000 jobs lost immediately, five million fewer American–five million fewer American manufacturing jobs than there were….
“We see it where all–the trade agreements, the investor class capital is protected, whether it’s copyrights or whatever, intellectual property, their investments. And they just pay lip service to workers’ rights….
“Median household income in the United States was lower in 2012 than it was in 1989. I’m not saying solely because of this, but largely because of this.
“If you want to see the dominance of capital that I think these trade agreements exemplify and embody, all you have to see is the 2008 crisis, economic crisis in this country.
“Millions of ordinary Americans saw their futures, their savings, their homes wiped out. And they got nothing in the way of relief.
“Those who had caused it, who had brought the country to its knees, the big banks and the investment houses of Wall Street, were bailed out by people. They were made whole.
“So, you had a choice. Who are you going to help and who you going to leave to make out for their own?
“We have capitalism for the rich and we have free enterprise, high risk for workers. And I just think this is what it exemplifies….American workers have lost their clout politically.”
Click here: Shields and Brooks on Pacific trade deal politics
Romney is right: “The rich have gotten richer, income inequality has gotten worse and there are more people in poverty than ever before.”
And so is Shields: “American workers have lost their clout politically.”
But what neither man offered was a solution–although one is available.
It is long past time for Americans to address the following evils for which employers are directly responsible:
The solution to these evils can be summed up in three words: Employers Responsibility Act (ERA).
If passed by Congress and vigorously enforced by the U.S. Departments of Justice and Labor, an ERA would ensure full-time, permanent and productive employment for millions of capable, job-seeking Americans.
And it would achieve this without raising taxes or creating controversial government “make work” programs.
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