Weak Job Prospects for Class of 2014

2014 college graduates should plan on living with mom and dad for a while. Research suggests job prospects will be grim for new graduates. Economist Heidi Shierholz says graduates are entering a down market. “The Class of 2014 is still entering a labor market that has pretty weak job prospects.” Many college graduates will not be able to find employment in their fields of study or will be underemployed, says Shierholz. “A big share of them will face unemployment or they will face under employment, they may find jobs but a job where they can’t get the hours they need or that doesn’t require their college degree.” The job market is not as bad as it was last year or the year before that, adds Shierholz.  “2008, 2009, things really fell off a cliff; they have been steadily improving since around 2010.” Shierholz advises graduates to hang in there. “The most important thing, I think for young workers coming out into this labor market to understand is to just hang in there, it is going to be harder, and they’re unlucky.” The Economic Policy Institute conducted the study on job prospects for recent college graduates.