Recent college graduates are moving back in with their parents or other relatives in huge numbers. The San Francisco Chronicle reports that it's happening to 80 percent of graduates. Worse yet, the graduates are beating themselves up over their unlucky plight.
Yet college grads need to realize they are not to blame. There are over seven million fewer jobs today than when the recession began in 2007, according to the Labor Department. In addition, people who are older and might have retired are continuing to work because their retirement savings have declined. So you have a real double whammy.
Stop beating yourself up, college graduates!
This past weekend, I spoke with a mid-career person who has been unemployed for some time because she took a buyout from her employer. She's too young to retire and now she's facing a lot of difficulty finding a new job.
Yet the jobs will come back, though I do not have a magic date as to when they'll appear again. Economists say the rates of job losses are declining, which is good, but we're not yet seeing that full-scale turnaround in employment.
Meanwhile, many college graduates will attempt to use social networking sites like Facebook to help find work. Social networking represents a great opportunity to e-network, but you should beware of scams. Use those kinds of sites with extreme care.
Full Sail Mortgage is offering internships to qualified graduates. Give me a call and we can discuss the programs. 864-451-7894
Friday, October 30, 2009
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