80 Million Strong

As GWU students we’re well aware of the cost young adults have to face while attending college. While GWU may be generous with its financial aid packages, the reality is that many students graduate with debt.

Last week I had the chance to attend the launch of the 80 Million Strong for Young American Jobs Coalition, a group of organizations that are looking to tackle issues that affect the millennial generation. The group takes its name from the statistic that the millennial generation, also known as Generation Y, is comprised of approximately 80 million Americans.

Their first goal? Making progress on issues related to college students including unemployment, student loans, health care, and credit card debt.

Not worried about the economy? Consider facts that coalition members continued to mention:

• Unemployment among people ages 16-24 is nine points higher than the national average
• Recent graduates average $27,00 in undergraduate student loan debt, $70,000 for law school students, and over $100,000 for medical school students
• Young Americans have been targeted for “easy credit” scams, and average over $2000 in credit card debt by the age of 24. That debts more than doubles among young adults ages 25-34
• Thirty percent of young people are uninsured, the highest of any age groups

Matthew Segal, the executive director of Student Association for Voter Empowerment, summarized the situation by saying:

The millennial generations is in a precarious state.

Times are certainly tough, and jobs are certainly on the minds of numerous students as well approach commencement weekend. The coalition is seeing to unite young people and empower them to join the debate in tackling these issues.

Interested in joining in the conversation about young people and the economy? Head to the 88 Million Strong website. If you’re really interested in these issues you want to make note of their National Summit and Lobby Days on July 17th and 18th.

Job Crunch

Graduating seniors: whether you want a soul crushing desk job or something else, it appears the country's economic slow down is effecting the entry level job market. The Christian Science Monitor is reporting that students graduating this year are facing a much tougher market than last year's graduates.

"While the number of jobs available for college graduates this year increased by 8 percent and average salary offers rose by 5.3 percent, the signs of contraction are clear, reports NACE. The class of 2007 saw a 17.4 percent increase in job openings – one of the best markets since the late 1990s. This fall it appeared that the situation would remain relatively similar for the class of 2008, with a projected 16 percent increase. But by early spring that number had dropped by half."

The report goes on to say that finance and construction are the hardest hit industries with new positions decreasing by 7.5 percent and 2.8 percent respectively.

This news isn't that bad, sure we don't have it as easy as the class of '07, but the economy has net gained jobs. Also, if you like DC, the government is still hiring/spending like crazy. Be sure to check out usajobs.gov if your interested... there are currently 2,808 opening within 25 miles of GW, many of which are entry level.

The government can be a great place to work. The benefits are awesome, pay is good at the entry level and the positions are very stable. This coming week is Public Service Recognition Week (May 5-11) and there will be dozens of agencies/departments with booths on the National Mall. It will be a great opportunity to talk to organizations you may be interested in working for if you're still in the market.