A New Period of Unemployment

Young Adults Looking For A Job

Activerain

According to The Atlantic Magazine, “The unemployment rate hit 10 percent in October [2010], and there are good reasons to believe that by 2011, 2012, even 2014, it will have declined only a little” (The Atlantic. Found in paragraph two of the first page). Furthermore, at the end of 2009 the average period of unemployment exceeded six months. This is the first time that has happened since the Bureau of Labor Statistics started tracking the numbers in 1948.

Additionally from the magazine, it’s also forecasted that the unemployment rate won’t return to 7 percent until the end of 2015. Unfortunately, it becomes apparent that there is a chance many of you will face some period of unemployment.

Most of us will graduate in May 2013, which means we will still be in an age of relatively high unemployment. According to the National Association of Colleges and Employers, there was a 21 percent decrease in jobs offered to graduating seniors last year. It’s probable that there will be another 7 percent decline this year (The Atlantic. Found in paragraph seven of the first page).

In addition, the few lucky graduates who do receive job offers will make up to 25 percent less in their first year of employment compared to graduates who receive jobs in the boom periods. In reality, “this period of economic weakness may reinforce class divides, and decrease opportunities to cross them—especially for young people” like you (The Atlantic. (Found in paragraph seven of the fourth page).

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