Members of the Class of 2013 are facing a tough job market, but they shouldn't expect much sympathy from older friends and family members. Learn more.
Unemployment among young Americans remains in the double digits, but members of the Class of 2013 who are entering this tough job market shouldn’t expect much sympathy from the senior citizens in their lives.
Older Americans appear to take the toughest line on unemployment, according to a new study from Spectrem’s Millionaire Corner that examines the attitudes and behaviors of investors from a range of wealth levels.
More than three-fourths of investors ages 65 and older across wealth levels – believe the unemployed “should work part-time while looking for work full-time,” according to our first quarter study on changing investor attitudes and behaviors. Younger investors are less likely to advocate a part-time job for those looking for work.
A similar share of older investors across all age levels believe “the unemployed should do more to invest in themselves through additional job training and education.” Roughly half of investors in their mid-40s and younger agree with this point of view.
More than two-thirds of the senior citizens indicate the unemployed should lower their job expectations, indicating “the unemployed should take a lesser position that they are used to.” Younger investors – including 51 percent of those with $100,000 up to $1 million to invest – are less likely to agree.
How do working millennials feel about their career prospects? Click here to find out.
Older and younger Americans may argue the best job search strategies, but it’s clear that many recent college grads are struggling to find work. Men earning a bachelor’s degree in 2011 had an unemployment rate of 16.1 percent in October 2011, roughly two times the national average, according data released in April from the U.S. Bureau of Labor Statistics. Their female counterparts had an 11.2 percent jobless rate.
Members of the Class of 2011 were most likely to find jobs in educational services (20 percent) or health care and social assistance (18 percent), the BLS reported. This year, employers will most likely be filling jobs in information technology and customer service, according to an April survey from the online jobsite Career Builder. Other hot job sectors for young grads are finance and accounting, sales, business development and health care.
Learn more about the job market facing members of the class of 2013 by clicking here.