Upon stepping into the real world for the first time upon graduating college, many students are finding that their pricey degrees may not be worth much more than the paper they’re written on.
Fifth Third Bank recently offered to give some help to those who have recently acquired their degree, in the form of $1,000,000 of job market training to 2015 college graduates. Stating that over half of recent American college graduates possess no full-time job, this company decided it was time to step up and do something about it – just in time for graduation season.
This doesn’t mean that over fifty percent of these people have no jobs, but it does mean that over half are getting back less than what they were told they were going to receive when they started off on their college journey. They can only find part-time work, low-paying work, or jobs that do not technically require a Bachelors Degree.
The 2015 job market isn’t only a tough one for recent college grads, but for all Americans. While the Obama Administration has been patting itself on the back lately for bringing the unemployment rate down from 10 percent to 5.5 percent (still higher than before Barry took office) as of February 2015, the reason for that is not actually because more Americans have gotten jobs. Two of the world’s most respect economists, David Blanchflower of Dartmouth College and Andrew Levin of the International Monetary Fund, recently published an article explaining how liberals have lowered the unemployment rate without actually lowering unemployment. They point out that the unemployment rate fell sharply in 2010 and 2011 not because more Americans found work, but because Americans stopped looking for work. As a result of how our government calculates the unemployment rate, these people who stopped looking were taken out of labor force statistics, which removes them from the pool of unemployed citizens as well. Forbes reports that this means “true unemployment rate in the U.S. would be somewhere between 7.4 and 9.4 percent, rather than 5.5 percent.”
A $1,000,000 publicity stunt by Fifth Third Bank probably isn’t going to fix the job market all on it’s own, but at least it’s something.
What do you think? Good marketing, a sincere attempt to help America’s future, or both? Let us know in the comments below.
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This post originally appeared on Western Journalism – Equipping You With The Truth