Less than half of recent college graduates—part of the generation Obama has coined "Gen44" in honor of himself—are able to find a full-time job, according to a new study.
The Wall Street Journal reports:
A survey of employers by the National Association of Colleges and Employers showed those that recruit on campuses plan to boost hiring of new grads by 10.2% from last year. However, on-campus recruiting is only a small slice of the pie—the bulk of graduates find jobs on their own.
In a study to be released Thursday, the John J. Heldrich Center for Workforce Development at Rutgers University found that recent graduates are taking awhile to find work. Only 49% of graduates from the classes of 2009 to 2011 had found a full-time job within a year of finishing school, compared with 73% for students who graduated in the three years prior.
Overall, the unemployment rate among 20- to 24-year-olds with bachelor's degrees was 6.4% in April, compared with 8.1% for the overall population, according to the Labor Department.