Sunday, August 17, 2014

5 signs Americans are flat-out broke

USA Today reports :
The University of Arizona released an update earlier this year on its study of a freshmen cohort group — dating back to 2007. More than half the participants — mostly graduates — reported relying on financial support from family to meet current financial demands. Nearly half of those respondents were employed full-time. In fact, as the chart above shows, only 49% of participants reported having full-time jobs after two years of graduation.

"Although a college education has historically been an indication of more career opportunities and higher income, launching a career today is a challenge even for college graduates (Shierholz et al., 2013). Many young adult cohorts who graduate college in weak national economies find themselves taking any job just to pay the bills and may be overqualified for the jobs they take (Kahn, 2010)," explains the report.
Yet, Barack Obama wants more people to go to college!