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Updated: 05/26/2012
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Finding A Job Today
- Although by
May, 2013 there were signs that the job market for college graduates was starting to pick up
a bit, overall, the job market is worse than it has been for decades. Still, we may finally be seeing a
bit of a "turnaround" in what has been high unemployment among young people.
- It was reported in April, 2012 that 53% of college graduates were either unemployed or underemployed -- a percentage that had been steadily increasing for a decade.
- At the same time, many U.S. employers haven't been able to find qualified young people from the United States to fill vacancies in technical areas.
- Unable to find jobs, many people are enlisting in the military. Others are starting graduate degrees. Going to law school
right now is now considered a bad option. The profession has been especially hard hit.
- However, even though those with
masters and doctorates may earn salaries significantly above those with bachelor's degrees, graduate school is not a good "investment" if you have go deeply into debt.
- TV stations are laying off employees. Seasoned TV anchors with decades of news experience (and million-dollar salaries) are being let go.
In general, the four best areas for prospects of employment are:
- nursing
- teaching
- accounting
- computer science
The worst college majors for prospects of employment are:
- anthropology
- philosophy
- art history
- humanities
Today, 94 percent of college students borrow money to pay college tuition, twice the percentage of
a decade ago. For most graduates paying back this debt without a good paying job, which few can find in the current economy, is almost impossible.
Could there possibly be any good news for broadcasting students in all of this?
Yes, a little.
- The high-salaried employees that are being let go are being replaced by young, bright broadcasting graduates with limited on-the-job experience but at much lower salaries.
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Cable and satellite television continue to expand. Plus, outlets such as
Netflix and Amazon are now producing their own programming.
Education and Unemployment
In terms of starting salaries college graduates are doing significantly better than those who don't finish college -- and that economic difference continues to widen.
If you look at families headed 
by someone without a college degree, their income last year in real terms was below that of a comparable family in 1973. For this segment of the population employment opportunities have been getting worse.
Some jobs are being created for non-college young people, but most are low-paying jobs that do not offer health care benefits.
There is detailed advice on getting and holding onto a job here.
International Telecommuting
There is an acute shortage of U.S. graduates in computer science and engineering, and employers are being forced to look outside the country for qualified workers. In addition to hiring many more immigrants, many U.S. employers are hiring foreign workers in their native countries and letting them "telecommute" to work via the Internet.
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Your Economic Future
In just a few short years the country has gone from having the greatest tax surplus in history to the greatest deficit in history. This is bound to have implications down the road. For example, there is concern about the future of Social Security and Medicare.
Given these realities, the old motto, "The future belongs to those who prepare for it," is particularly appropriate.
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