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Unemployed College Grads Outnumber High School Dropouts

Recent college graduates may own many copies of Oh, the Places You'll Go! they undoubtedly received as graduation gifts, but it's doubtful most are finding inspiration in those pages these days. According to the Bureau of Labor Statistics, the number of unemployed people with a higher degree rose to 1.413 million in November, while there were 1.282 million looking-for-work high school dropouts.

No matter how it's spun, the November jobs report was grim and disheartening for existing job seekers. According to CNN Money, economists use the professional and business services category as a measure for the greater economy, and the November numbers revealed the largest one-month drop in jobs on record for that sector.

The unemployment rate for Americans with a higher degree 3.1 percent as of November, while overall unemployment was recorded as 6.7 percent. Dean Baker, director of the Center for Economic and Policy Research, thinks that "College graduates are not going to get away unscathed," and added, "Students understand this is not going to be a market where they will have three or four offers."

Do you know any recent grads that are having trouble finding work?


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