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80% of new college graduates had to move back in with parents
Posted:
Oct 22, 2009 7:05 AM
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> There are 7.2 million fewer jobs now than when the recession began two years ago, according to the U.S. Labor Department. Unemployment hasn't been this high in 26 years, with nearly 1 in 10 people out of work across the country.
More returning home
> Most of them can't crawl back to the home of their youth, get a hug from long-suffering parents and be served a free hot meal night after night. But plenty of new graduates can - and they're doing it more often, according to a Foster City company called CollegeGrad.com.
> They began asking graduates in 2006 if they had moved back home after school. At that time, 67 percent of more than 2,000 respondents said yes. This year it was 80 percent.
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/10/20/MNS71A5LUL.DTL
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284
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Re: 80% of new college graduates had to move back in with parents
Posted:
Oct 22, 2009 1:18 PM
in response to: walterbyrd
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> > They began asking graduates in 2006 if they had
> moved back home after school. At that time, 67
> percent of more than 2,000 respondents said yes. This
> year it was 80 percent
>
>
To all prospective college students who want to study CS/IT but are worried about the job prospects:
See, it's not so bad. You'll be screwed, regardless of what you major in.
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Re: 80% of new college graduates had to move back in with parents
Posted:
Oct 22, 2009 2:24 PM
in response to: bbtr
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> See, it's not so bad. You'll be screwed, regardless
> of what you major in.
Never heard of a BSN who could not get a job. I have four relatives who are nurses, and one friend who is a nurse. I have another relative, and two other friends who are studying to be nurses.
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Re: 80% of new college graduates had to move back in with parents
Posted:
Oct 22, 2009 4:27 PM
in response to: walterbyrd
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> Never heard of a BSN who could not get a job. I have
> four relatives who are nurses, and one friend who is
> a nurse. I have another relative, and two other
> friends who are studying to be nurses.
There are exceptions, but they're only limited to a few specialized service level occupations, most of which involve lots of backbreaking manual labor. For me, any physical labor beyond typing is simply unacceptable.
Besides, not many people think of becoming a nurse, police officer, etc when going to college.
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4/28/09
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Re: 80% of new college graduates had to move back in with parents
Posted:
Oct 23, 2009 9:57 PM
in response to: walterbyrd
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>
> > They began asking graduates in 2006 if they had
> moved back home after school. At that time, 67
> percent of more than 2,000 respondents said yes. This
> year it was 80 percent.
>
>
If a recent grad is able to find work locally, then WHY NOT move back home? It's such a golden opportunity to begin saving (and paying off college tuition). Why toss money out the window by living in an apartment, only to make the property owner more wealthy?
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Re: 80% of new college graduates had to move back in with parents
Posted:
Oct 24, 2009 7:22 AM
in response to: bbtr
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> Besides, not many people think of becoming a nurse,
> police officer, etc when going to college.
That is news to me. I can hardly keep track of my friends, and relatives, who are in nurse school, trying to get in, or have just graduated. Nurse schools all over the country have a waiting list. I have a friend, who's son just graduated and went into law enforcement - he was studying engineering but changed his major - wisely IMO. I don't know anybody studying CS.
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Re: 80% of new college graduates had to move back in with parents
Posted:
Oct 24, 2009 1:43 PM
in response to: PhillyGuy
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I often lived at home. It enabled me to pay the down payment on our house. My brother, who valued his independence more, did only sporadically. As he's never been too concerned with accumulating wealth his choices were probably better for him even though they've sometimes led to SROs and shared apartments. Whether or not living on his own was good for his long term finances, I couldn't see him staying at home and thus somewhat under our parents thumb without having serious stress.
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Re: 80% of new college graduates had to move back in with parents
Posted:
Oct 24, 2009 4:41 PM
in response to: walterbyrd
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I believe it.
a lot of people I know in their mid-20's or early 30's even are living with parents, and no I'm not talking immigrants to the USA, I'm talking people who grew up in the USA and several who graduated from college. the problem is there is no work that pays more than 20K out there often and another 5K of that goes to health insurance, AND landlords have jacked the rent up to the moon (example: $900/month to rent a condo - yikes).
this problem is even worse for tech grads, probably.
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Re: 80% of new college graduates had to move back in with parents
Posted:
Oct 25, 2009 2:57 PM
in response to: charged_neutral
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Back in 1999, if you graduated with a tech degree, people in their 20's were eager to move out of their parents. Some even say, "Their parents live with them!" since they made so much money during the boom.
10 yrs later -- 2009 -- the recent grads are of a different generation. Now, many have to live with their parents -- after all, rents have gotten more expensive, high-paying tech jobs are hard to find, etc.
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Re: 80% of new college graduates had to move back in with parents
Posted:
Oct 26, 2009 5:44 AM
in response to: webperson
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webperson wrote "10 yrs later -- 2009 -- the recent grads are of a different generation. Now, many have to live with their parents -- after all, rents have gotten more expensive, high-paying tech jobs are hard to find, etc"
It's not a new generation, it's just plain worse economically for the common person now in the USA at any time since the 1930's.
Do the math:
a $10/hour typical office job is about 20K a year BEFORE taxes and paying 5K of health insurance. the result is you'd end up with about 14K cash for a year.
if you live alone, Landlords, in the burbs/city want at least $800/month ($9,600) .
that leaves a person $4,400 a year (or $91/week) to pay gas, electric and phone bills, cable television, eat off of, and buy clothes off of.
It's simply not possible to live alone after high school in many metro areas in the USA. In 1999, it was still barely possible. Now, it's CLEARLY NOT.
to make matters worse, some employers want to make people work w/out health benefits as well (contract).
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Re: 80% of new college graduates had to move back in with parents
Posted:
Oct 29, 2009 6:05 PM
in response to: charged_neutral
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I was wondering if any one with a bachelors degree would take a 30K salary with average benefits? If yes, then he/she must be very desperate.
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Re: 80% of new college graduates had to move back in with parents
Posted:
Oct 30, 2009 11:07 AM
in response to: steakhouse2
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> I was wondering if any one with a bachelors degree
> would take a 30K salary with average benefits? If
> yes, then he/she must be very desperate.
Take a look at the recent job ads.
Here is a tech job that requires a bachelor's degree and pays $10 an hour.
http://denver.craigslist.org/web/1424619041.html
Here is another tech job that states: "Candidate must have a Degree in the Information Technology Field with a GPA of 3.0 or higher!" and pays $15 an hour.
http://denver.craigslist.org/tch/1439591995.html
When my niece graduated from college with her bachelor's degree in Psychology, the only jobs she could find were paying around $22K/year. She went back to college and got her BSN, now she is doing great.
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Re: 80% of new college graduates had to move back in with parents
Posted:
Nov 7, 2009 10:27 AM
in response to: walterbyrd
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> > See, it's not so bad. You'll be screwed,
> regardless
> > of what you major in.
>
> Never heard of a BSN who could not get a job. I have
> four relatives who are nurses, and one friend who is
> a nurse. I have another relative, and two other
> friends who are studying to be nurses.
I have a friend who is a nurse who landed a job right after graduation.
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Re: 80% of new college graduates had to move back in with parents
Posted:
Nov 12, 2009 5:03 AM
in response to: steakhouse2
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I was wondering if any one with a bachelors degree would take a 30K salary with average benefits? If yes, then he/she must be very desperate.
depends on the job and have to move back in with parents for 5 or 10 years, you have to work somewhere.
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80% of new college graduates had to move back in with parents
Posted:
Nov 12, 2009 6:51 AM
in response to: charged_neutral
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> I was wondering if any one with a bachelors degree
> would take a 30K salary with average benefits? If
> yes, then he/she must be very desperate.
For graduates of arts, humanities, and social science degrees a USD30K starting salary is probably considered good. Yeah, I know. We were told to study STEM subjects and earn a high salary out of the gate. Reality though is quite different. You can blame the criminals on Wall Street but they are still collecting their excessive bonuses despite their failures.
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