9/1/2014

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Job market for college grads better but still weak

Job market for college grads better but still weak
Luis Mendez, 23, left, a student at Miami Dade College, left, and Maurice Mike, 23, a student at Florida International University, wait in line at a job fair.
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WASHINGTON (AP) - The job market for new college graduates is brightening but remains weaker than before the Great Recession began.

The Labor Department reports that the unemployment rate for 2013 college graduates - defined as those ages 20 to 29 who earned a four-year or advanced degree - was 10.9 percent. That was down from 13.3 percent in 2012 and was the lowest rate since 7.7 percent in 2007.

Female graduates fared better than men: 9 percent were unemployed as of October last year, compared with 13.7 percent of men. The economy has been generating jobs in many low-wage fields - such as retail and hotels - that disproportionately employ women.

Unemployment for recent grads was slightly above the overall 9.6 percent rate for Americans ages 20 to 29 in October.
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