College Grads about to Flood Labor Market; Class of 2009 Still Without Jobs in Deep Trouble

.C. Their 32-point margin shrank to 18 points this year, with 55 percent leaning Democratic and 37 percent Republican, based on polls taken from January through April.

Thirty-three percent of Harvard’s graduating seniors had accepted a job as of commencement last year, down from 51 percent the year before. The survey results for this year’s class haven’t been released. Just as many of the long-term unemployed will never get another job in their field, relegated to taking jobs in the retail or restaurant industries, the same is likely to happen to the 2008-2010 graduates who do not find a job for a year, with wave after wave of new graduates on the way.

President Obama wants to fight this with more college grants as if sending more people to college is a cure for a glut of grads without job prospects.

Moreover, training plumbers to be java programmers (or vice versa) will do nothing but waste money while offering false hope and a burden of long-term student debt that cannot be paid back.

Mike “Mish” Shedlock
http://globaleconomicanalysis.blogspot.com
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Mike “Mish” Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.
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