The individual stories are familiar. The chemistry major tending bar. The classics major answering phones. The Italian studies major sweeping aisles at Wal-Mart.
Now evidence is emerging that the damage wrought by the sour economy is more widespread than just a few careers led astray or postponed. Even for college graduates ”” the people who were most protected from the slings and arrows of recession ”” the outlook is rather bleak.
Employment rates for new college graduates have fallen sharply in the last two years, as have starting salaries for those who can find work. What’s more, only half of the jobs landed by these new graduates even require a college degree, reviving debates about whether higher education is “worth it” after all.
Recall that in the socialist uptopias of Russia and China, the professionals; those with college degress, got to reside in or clean out the gulags. I guess Wal Mart would be a great training ground for the new Obama socialist one world republic.
A better interpretation is people going to college for four years end up realizing one did not need to go to college in the first place.