Black pundit unhappy with the Obama Economy of “Well Educated Baristas”
Black grads can’t find degree-worthy jobs, but neither can others.
When President Obama promised to be “transformative,” few college students anticipated he would create an economy of “well educated baristas.”
Zero Hedge’s Tyler Durden reviews one black pundits complaint that over half of black graduates get jobs that do not require college degrees, and notes that they are in the same boat as everyone else.
As the WSJ reports, “among those with a job in 2013, more than half of black recent college graduates—56%–were in an occupation that typically doesn’t require a college degree, according to a report Tuesday by the Center for Economic and Policy Research, a left-leaning Washington think tank.”
But while one may be inclined to accuse the authors of pandering or, gasp, racism, the reality is almost just as bad for all races:
Among all recent college grads with a job, the rate still was a very high 45%. (The report defines a recent college grad as someone between the ages of 22 and 27 with a four-year degree.)
The follow through from here is logical: upon graduation some 56% of blacks fall into a state defined as “underemployment”, not to be confused with the same term used by the BLS, “in which college-educated workers aren’t getting high enough salaries to pay off their student debt and achieve a middle-class lifestyle.”
An additional variable, although far less important, is experience: “experience makes a difference, with workers further out of school tending to hold better jobs than recent college graduates. Among all employed black college graduates—regardless of when they earned their degree—about 42% were in a job that didn’t require a degree in 2013. Among all employed college graduates regardless of race, the figure was 35%. The weak labor market comes at a time when young college graduates also are carrying higher debt loads than previous generations to cover rising college costs.”
The punchline, by the CEPR report’s author Janelle Jones (who incidentally is also black, which has no bearing on this topic… which is why we note it):
“Black workers have been told for a generation that the way for you to do better is go to college. These are people who go to college in the face of rising tuition, needing to work to support themselves, not having a family structure. They finish college and then they end up finding a job that job doesn’t end up requiring a degree and pays less than those that do require a degree.”
Well, to be honest Janelle, all workers have been told for a generation, and actually much longer than that, that the way to do better is go to college.
56% Of Recent Black College Graduates Get A Job That Does Not Require A College Degree, CEPR Finds (Zero Hedge)
Comments
Well, the young pups wanted to be part of an historic moment. They were too idealistic to look rationally at the candidates and can’t seem to see when some one is lying to them. At some point it was better to go to college. But attending college and coming out with an unaffordable debt was stupid especially when facing an economy in recession. Got to deal with reality and not fantasy. In addition, they voted for an administration which is anti-business, anti-profits, anti-low cost energy, pro-regulation, high taxation and wanting to micro-manage all aspects of public life. Only the young and stupid would have believed that this was the path to job creation. No business or profits combined with increased costs of operating a business means no jobs for spoiled brats who voted for socialism. Next time do some research and gain useful knowledge, then the consequences will be less of a surprise.
Hear! Hear!
Let’s see if saying “my president is black!” will provide a suitable job that will put money in their pockets, gas in the car, and food on the table.
Voting race without looking at the candidate’s past record is a loser’s game.