Recession Continues for New Graduates

Guess what?

The economy is still crappy. Despite widespread attention to perceived upturns in the U.S. economy, recent college Graduates are still going to be hit hard by The Great Recession, according to a piece by Geoff Mulvihill at the Huffington Post. As he explains:

The median starting salary for those who graduated between 2006 and 2008 was $30,000. For the 2009 and 2010 grads, it dipped to $27,000.

Nearly half the graduates say they’re working at jobs that don’t require a college education. And many of those who left those first jobs didn’t find a better situation. Nearly half say they’re subsidized in some way by their parents or other family members, including more than 1 in 5 who live with relatives. While 85 percent have health insurance coverage, only half have it through work. Nearly one-fourth are covered by a relative’s plan.

Good luck paying those student loans.

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Daniel Luzer

Daniel Luzer is the news editor at Governing Magazine and former web editor of the Washington Monthly. Find him on Twitter: @Daniel_Luzer