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Tuesday, October 05, 2010

Where are Young Grads Finding Jobs?

A between classes quickie (young here is defined as 25-34): 

Where Young College Grads Are Finding Jobs: Government, by Michael Mandel: ...Government has been the main hirer of young college grads over the past year.  And why not? Government jobs are safer, they pay well, and have better benefits than the private sector.  The next biggest hirer of young college grads is the broad category entitled professional and technical services, which includes such  industries as law, accounting, computer systems design, and management consulting.  These industries as a whole have not been expanding, or expanding only slow–but they have been shifting towards better-educated workers.
Then comes the distressing category: Hotel and restaurants.  We hear anecdotes about young college grads being forced to work as waitstaff in restaurants, and here’s one indication that might be more common than we would like–the number of young college grads working in hotels and restaurants is up 33K over the past year.
Two industries that I lump together in my mind as the ‘social and community’ sector are social assistance and membership associations. Now, for sure, not all the enterprises in these two industries are nonprofit. But in some sense, they are directed towards broad social goals. Total young college grad employment in the social and community sector is up about 60K.
One final but important source of jobs for young college grads is the communications sector, which for me includes industries such as telecom, internet publishing, and broadcasting.  Young college grad employment is up about 18K in these industries. Please note–I was formerly in publishing, and now I’m in internet publishing–two different industries.
Which sector is worst? Finance, of course, which has been shedding young college grads like crazy.


    Posted by on Tuesday, October 5, 2010 at 12:45 PM in Economics, Unemployment | Permalink  Comments (34)


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