Don’t trust latest unemployment figures for college grads
With graduation season looming, it is no surprise that the Obama administration is going to manipulate the numbers to make the job situation for graduates appear rosier than it is.
One more time.
The U.S. Labor Department is not using the most accurate data to define unemployment numbers for recent college graduates, a conservative organization alleges.
The Labor Department announced this week, on Tuesday, that the unemployment rate for 2013 college graduates is 10.9 percent. That’s down from 13.3 percent in 2012 and the lowest since 2007, when it was 7.7 percent.
But the number is inaccurate because it’s using the U3 unemployment rate, which doesn’t calculate labor force participation, says Corie Whalen of Generation Opportunity.
“So, okay, it declined to 10.9 percent,” says Whalen. “But unfortunately the reason is because young people are actually dropping out of the labor force.”
Whalen says a more accurate number would actually be the U6 number, which is more than 15 percent unemployment.
“And even that doesn’t account for college grads who aren’t using their degrees when they graduate and are drowning in debt,” she says.
Don't trust latest unemployment figures for college grads, says conservative group (One News Now)