Money Minute: College Grads Upbeat About Job Prospects

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Most students about to graduate college will be without a job when they pick up their diploma, but they're optimistic about getting one.

A new survey by Accenture (ACN) finds only 11 percent of the students graduating this spring had a job locked up two months ahead of time. They're still facing a tough job market. Accenture also found that fewer than half of those who graduated in the past two years are working full-time in the fields they prepared for. One more stat from this report: nearly four out of five students in this year's graduating class will have at least $10,000 of student debt.

The King of Pop is being resurrected yet again. A new Michael Jackson song debuts in an ad for Jeep. The new song -- "Love Never Felt So Good" -- features the Cherokee and Wrangler models in a new campaign focusing on having fun outdoors. A new album from the late King of Pop will be released later this month.

Democrats and Republicans in the House finally found something to agree on. At a congressional hearing Thursday, both expressed concerns about the impact of Comcast's (CMCSA) proposed takeover of Time Warner Cable (TWC). The lawmakers are worried about the potential cost to cable subscribers, as well as the access given to independent programmers, including regional sports networks. Ultimately, Congress has little say in the matter, but their objections could prompt the Justice Department and the FCC to impose restrictions, before signing off on the deal.

Here on Wall Street, the Dow Jones industrial average (^DJI) rose 32 points on Thursday, but the Standard & Poor's 500 index (^GPSC) fell 2 points, and the Nasdaq composite (^IXIC) lost 16.

Finally, have you seen joggers or people working out at the gym wearing funny looking shoes that look sort of like gloves for the feet? Well, Virbram, the maker of those FiveFingers running shoes, has agreed to pay $94 to consumers for each pair they bought. A class-action suit alleged the company made unsubstantiated claims about the health benefits of what's become known as "barefoot" running.

-Produced by Drew Trachtenberg.


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jpfmtka

This topic appears to have attracted a multitude of comments from the pedestrian populous that appear unhappy and critical of those who, early in life, made a plan and had the perseverance and will to see it through. I agree that a degree is not necessary and that significant numbers prosper having only attended trade school. Again, a plan and a budget. Secondly, and perhaps more importantly, college exposure provides a depth of intelligence, sophistication and worldliness absent in those that thought 12th grade was the ultimate culmination.

May 09 2014 at 4:51 PM Report abuse -1 rate up rate down Reply
thefacts22

The education of our kids is today in the hands of pseudo intelectuals,and product of Colleges that dictatate and will not allow students to think an make decisions....Government today makes grand design projets that could not be implemented and the final results are unexpected and negative

May 09 2014 at 4:40 PM Report abuse -5 rate up rate down Reply
1 reply to thefacts22's comment
teabuster2

Are you suggesting that we indoctrinate our young people in the extreme right wing ideology?

May 09 2014 at 4:55 PM Report abuse +4 rate up rate down Reply
1 reply to teabuster2's comment
jj2301

Perhaps just sticking to teaching them *how* to think instead of *what* to think would be a step in the right direction.

May 09 2014 at 5:07 PM Report abuse +2 rate up rate down
mac2jr

Our jails are full of those who grew up without an education and could not or can not find substained employment, each person in jail cost the taxpayer about $23,000 per year to take care of another person who is not paying taxes or pulling his or her weigh in our society.

Would it not be better to take that $22,000 and GIVE it to each high school student that actually stays in school and gets his or her diplomia. Then if the student continues to succeed in college, he or she gets $22,000 per year for each year in. The result will be a downturn in criminals, an upturn in tax returns as each college educated person will earn an average of over $60,000 per year.

The cause of the inflated college educations is not due to Republicans or Democrats, but the governments of many foreign countries that are willing to send their best students to the best colleges, usually ours, and pay top dollar. We have had foreign countries actually build entire wings on a college just so their citizens could study with American Professors. Many of the foreign governments also pay workers to come to American and take top-notch jobs at very sub-standard pay, while providing that worker and his or her family with housing, vehicles, and food allowance; this is done to rob us of our latest technology. Both instances result in foreign countries having highly educated people that compete against USA.

May 09 2014 at 2:29 PM Report abuse +2 rate up rate down Reply
1 reply to mac2jr's comment
thefacts22

Let me remind you that Socialism final goal is to punish those that succed,and provide for those that refuse to work and think.....that way they get reelected

May 09 2014 at 4:44 PM Report abuse -3 rate up rate down Reply
2 replies to thefacts22's comment
teabuster2

Which is the worse of the two evils, socialism or plutocracy?

May 09 2014 at 4:51 PM Report abuse +3 rate up rate down
jj2301

Hey Somey, in case you haven't been paying attention, socialism has a strong track record of relegating civilizations to the dustbin of history.

May 09 2014 at 5:11 PM Report abuse -2 rate up rate down
mac2jr

Higher education is for those that can benefit from it. Many people like to work in the fields, others in a factory, others on a Rail Road, and still others on Wall Street. There are hundreds of professions available, and not all require a full high school or college education, therefore education should be geared to the likes or dislikes of the student, and the availability of a job after being schooled. It does NO good to teach a student a subject that the student has NO desire to learn; America's drop-out rates are proving this

There are local Boards of Education, State Boards of Education, and a Federal Board of Education. To which do you want to eliminate? And why? The way I see it is that we should by design eliminate the position of CEO from a corporation, or the position of President or VP or CFO since these are not the local department heads that are doing the supervising. The Federal Board of Education can do something that the State and Locals cannot, that is to supply the State and Locals with future direction based on the examinations of what is happening in 'All' regions of the county and the world..... This is the advantage point of having a Federal BOE

How do corporations fit into your DOE rant?" ---- Very simply, they expand on what many have been doing for the last fifty years, helping people get a head start with apprenticships, low cost loans, grants, starting jobs, etc. The problem is that most have forgotten there 'community roots' and are too global to care about the families that worked hard for generations to make them big enough to become global.

May 09 2014 at 2:24 PM Report abuse rate up rate down Reply
texastotenmom

i have $80.000 college debt n ill take one of the jobs obamit created in the last 5 years now..... the micky dees job;;; no no wait ...,ill have the dollar store job;;...no no wait maybe the walmart job; ; ; never mind ill settle for the booger king job~~U LIKE MY HAT ~~HOLD THE PICKLES....HOLD THE LETTUCE...SPECIAL SAUCES DONT UPSET US ..LA LA LA LA

May 09 2014 at 2:24 PM Report abuse -3 rate up rate down Reply
1 reply to texastotenmom's comment
jpfmtka

If I were you, I'd ask for a refund and use the proceeds to attend anger management..

May 09 2014 at 4:58 PM Report abuse rate up rate down Reply
mac2jr

Actually, the Corporations are the PRIME Beneficiaries of Public and Private School Education. The reason for getting an education is to get a job, and getting a job benefits the company, the officers and CEOS of the company, and the stockholder investors of the company.

Therefore, we should eliminate the Property tax that is used to pay for public education, and spread the billing across the corporate and company sector. That would give companies a need to make darn sure that students are getting a good education that is geared toward the needs of the companies, not the ideas of the scholars who are still teaching 1800 subjects.

We are not educating our kids for the future work force, most schools are still using text books that are years out of date. In fact, most text books are out of date before each is published. As for the parent's involvement, ha.... I taught for several years and various grade levels and NEVER once seen a parent get involved.... Corporations are the beneficiary of a person's education, therefore if we make the corporations pay, then we can be assured that the education will not only be good, but will be relevant to the future jobs at hand...

The latest textbooks are written by the 'expert' in that field. It takes from 3 month to a year or so to write a book, then it takes another 3 months to a year for the editors to proofread, illustrate, etc., then there is the marketing and the printing and the delivery and the school year delays. Thus, the average school book is three years old by the time it is in the hands of the student, and with today's techology, that is too darn slow

Yes, I do hate corporations that are not doing their part to help pay for the mess that they create, the wars that are for their protection, or the education that is for their benefit... But, if it comes to who should pay for the messes, the wars, the pollution, and the educations, then let it be those who created the problem. Why should a 85 year old retired homeowner who has no children or who's children went to school 60 years ago have to go without food or heat to pay for schooling that benefits some CEO and a bunch of New York or Tokyo Stockholders?...

May 09 2014 at 2:22 PM Report abuse +1 rate up rate down Reply
1 reply to mac2jr's comment
evans.mom

We already spend more per pupil than any developed nation, and the flow of easy government money artificially drives up demamd for college educations, thus driving up tuition.

May 09 2014 at 2:59 PM Report abuse -2 rate up rate down Reply
1 reply to evans.mom's comment
teabuster2

dopey.obamite

You get it. Why is your son such a dunce
=======================================
A dopey comment from a dopey individual.

May 09 2014 at 4:43 PM Report abuse rate up rate down
mac2jr

Missed in the article are the private colleges that spend more on national advertizing than on the education of the students. Also missed are the foreign students that are being sponsored by their governments to come to America and study, then take their new knowledge back home. Also, missed are the foreign governments that have 'given' multibillion dollars 'wings' to an American college, in return their students get special rates and breaks. The more students attending, the more the colleges can and do charge, thus foreign input of students raises the rates for American students

May 09 2014 at 2:19 PM Report abuse +2 rate up rate down Reply
cpruitt221

Grads are optimistic about the job market because they have not been in the job market. It has improved very little in the last 5 years. Sure you may be working, but you are working at 1/3 what you were making then. They may be hired but it will be because they can be hired cheaper than present workers.

May 09 2014 at 2:12 PM Report abuse +2 rate up rate down Reply
Iselin007

You might want to include many of the (not in the labor force) among the longterm unemployed because the age range is not just 65 and older!

May 09 2014 at 12:13 PM Report abuse rate up rate down Reply
Iselin007

Next time somebody on a EB-5 visa invests $500k or $1 million to start a business count how many American born citizens get hired.

May 09 2014 at 12:04 PM Report abuse rate up rate down Reply