Unemployment among recent college grads is up
Nov 11, 2019 12:30 pm
Aarthi Swaminathan is reporting for Yahoo! Finance the unemployment rate for recent college graduates is increasing. Data recently released by the Federal Reserve Bank of New York indicates that contrary to trends in the larger labor market, fresh graduates are more likely to be unemployed that the core U.S. working population, for the first time since 1990. Recent college graduates are defined as those between the ages of 22 and 27, with a bachelor’s degree or higher. The unemployment rate for that group has increased, from 3.8 percent in May to 4 percent in September, when the unemployment rate for overall workers was 3.6 percent. The unemployment rate takes on even more significance when considering the amount of student debt the newly graduated currently hold. Nearly a quarter of those who had taken out a Direct Loan were either behind in their payments or in default at the end of last year. Read the full story at Yahoo! Finance.