Class Of 2011 Faces Highest Unemployment Rate In History
Graduates Face 21.1 Applicants Per Job
Arlington, VA – Today, BankruptingAmerica.org (an awareness campaign by Public Notice) released a new Web video titled “Is Washington Creating Our Job Crisis?” As the 1.7 million college students of the class of 2011 graduate, they face one of the highest unemployment rates for college graduates in U.S. history.
This video (runtime 1:01) launches just days after the Bureau of Labor Statistics reported that the economy produced just over 50,000 jobs in May, the lowest number of jobs created in 2011 and the fewest jobs in eight months.
With unemployment rising to 9.1 percent, college graduates aren’t the only ones worrying about their economic future. A recent poll conducted by the Daily Beast/Newsweek found that by almost four to one, Americans say our economy is not delivering the jobs we need. Americans are even losing sleep over the economic crisis: 56 percent are so angry about their personal economic situation that they have lost sleep.
Gretchen Hamel, Executive Director of Public Notice, said the following:
“Washington has been trying to convince the American people that we are in the midst of a recovery, but the American people aren’t feeling it. The latest unemployment numbers confirm what the public already knows: this economy remains stagnant and is not improving.
“Partisan politics in Washington haven’t created a single job; instead, it undermines meaningful solutions to the nation’s fiscal problems and fosters uncertainty during an already tumultuous economic period.”
Video Script: The class of 2011 will likely face the highest unemployment rate for college graduates… in history. 1.7 million college students will graduate this spring. Has Washington prepared the job market for this many new graduates? Unemployment is now 9.1 percent, the highest in 2011. Underemployed: 19.2 percent. This year: 21.1 applicants per job opening. High government spending makes businesses uncertain of future tax and interest rates, which leaves them unwilling and unable to invest in new jobs or growth. Uncertainty over the future of the economy is keeping American businesses from recovery. Are Washington’s policies fostering a climate of job creation? It’s time for Washington to stop overspending. It’s time for Washington to tackle the $14.3 trillion debt and promote job creation.
See fact sheet.
View video at BankruptingAmerica.org.