By: Bill Bosher - email
The May jobs report does not look good for new college graduates. With about 1.8 million new bachelors degrees this year, the job market is going in the opposite direction.
With only 150,000 new jobs in May as compared with 229,000 per month in the first quarter, the question will be, "what can I do to earn a living?"
Historically, a bad economy has been the best recruiting tool for graduate schools; however, there is an ever-increasing drag on this assumption that is called debt.
So here is the new equation: a new degree plus poor marketable skills plus low job creation plus increasing costs of graduate schools plus debt equals high unemployment…and a growing dependency on others.
While this may be a terrible time to begin to accumulate wealth, it may the best time to begin to understand the value of service.
There is growing number of young people who have decided to make lemons into lemonade. They are turning a bad economy into good works.
In record numbers, young graduates are applying to nonprofits and organizations like AmeriCorps and Teach for America.
Max Stier, the president and CEO of the Partnership for Public Service said, "The millennial generation is a generation that is just more interested in making a difference than making a dollar."
While capitalism will eventually become a reality, perhaps the total emersion into public service will provide a more balanced life with a pervasive cultural effect.