Half Of New College Grads Are Jobless Or Underemployed

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

College graduates in the class of 2012 will find little help from their new diploma, with many set for a rough ride in the job market.

New numbers compiled from a variety of economists show that roughly half of all college grads under the age of 25 are either jobless or underemployed, with the latter working in positions that have nothing to do with what they went to school for. The studies show that college graduates are more likely to end up in lower-skill positions that do not require a degree like waiter, bartender or cashier than they are in an occupation related to their major.

The figures are based on an analysis conducted by researchers from Northeastern and Drexel universities. 53% of bachelors degree holders under the age of 25 are currently jobless or unemployed, the highest share in more than a decade. Recent UNA graduate Elizabeth Bell is one of many new job-hunters who are working either part time, odd jobs, or both.

"It's a lot harder than I thought it would be," said Bell, who graduated with a bachelors in Public Communication, and is aiming for a public relations or marketing job. "I'm just working odd jobs here and there, just to make a little bit of money. If someone needs a babysitter for the weekend or a night or something like that, helping people move, cleaning houses, anything."