Graduation approaches for many students, but tough times continue for college grads as a new study shows a grim job outlook for young adults entering the workforce.
A study from Rutgers University shows that only half of college graduates are working full-time, and nearly 60 percent believe they won’t be more financially successful than their elders, according to the Los Angeles Times.
A majority of students have less pay than they had expected, and about 12 percent are under- or unemployed.
Those who graduated during the recession earned a median starting salary of $27,000 annually, which is $3,000 less than previous graduates.
Most new graduates said their first jobs didn’t help advance their careers and didn’t require a four-year degree. Four in 10 respondents said they took the job just to make ends meet.
A quarter of all recent graduates haven’t made any progress paying off student loans, while 40 percent of students who graduated during the recession have the same problem.
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