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
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
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
toosmart4u

Another item everyone should understand. All this is our fault. The citizens of this country likes very cheap prices. It will never change until we start looking for MADE IN AMERICA. And that is what we should be buying. It will never change until we do. StillMadeinUSA.com

May 09 2014 at 11:23 AM Report abuse +1 rate up rate down Reply
toosmart4u

People you must understand that the republicans control the business sector of this country, run by the chamber of commerce. Who is the largest donater election after election. Greed has taken over and they will go to any country to get cheaper labor. They do not understand if more Americans are working, there is more disposal income to be spent on their products.

May 09 2014 at 11:18 AM Report abuse +1 rate up rate down Reply
2 replies to toosmart4u's comment
Iselin007

Who signed NAFTA and most of the trade pacts? The babyboomer generation has been devastated and their descendants thrust into a world of imported labor.

May 09 2014 at 11:53 AM Report abuse +1 rate up rate down Reply
jj2301

It's not one side or the other. It's the 535 people in Congress, along with the Executive and Judicial branches that are selling us all out.

Until you figure out that the guy with his arm around your shoulder, telling you how he's gonna make it all better by giving you someone else's stuff, is not actually helping you, there is no hope.

May 09 2014 at 11:57 AM Report abuse rate up rate down Reply
republicanslostagain

Corporate America: The New Slave Masters

One view of the reason for high unemployment is that corporations have been driven away by the American government who imposes some of the highest corporate tax rates in the world. Then of course, there was the dissertation on the American individual's greed regarding the expected pay rates for the work being done, in comparison to those who are willing to do the work overseas for a far, far lower rate of pay. In the same vein, there were comments regarding the absolute need for profits to ensure survival of the corporations. If they should fail, then jobs would be lost anyway, etc, etc... I believe the statement which brought me the most outrage was the one that alluded to the idea that CEO's and other top executives deserve to be paid exorbitant amounts because they are the ones whose expertise has enabled the corporations to rake in the astronomical profits, to begin with. It is those same profits which under this logic, shouldn't be subjected to taxation.

The other view being presented was that there was a need for closing corporate tax loopholes, for holding corporations accountable for their share of the tax burden, for limiting excessive pay packages to executives who write off so many of their luxuries as work expenses, in order to avoid their own personal taxes. He spoke about the impoverished state of countries such as India, China, and Mexico, and how the lack of corporate and government regulations and taxation for the good of all has not alleviated the miserable conditions of their lives, but has simply made corporations even wealthier at the expense of their workers.

May 09 2014 at 10:52 AM Report abuse -1 rate up rate down Reply
1 reply to republicanslostagain's comment
alfrankenfool

Barthold, companies are just getting rid of dead weight Democrats.

May 09 2014 at 11:56 AM Report abuse -1 rate up rate down Reply
Iselin007

Adults on visas are replacing many of the workers in the private sector.
Adults on visas are working through consultant firms and temp agencies are working in the Public sector.
Public sector or government jobs are being shifted to contract firms to get the government jobs down which makes them now private sector!

The Grads are going to find they are in over supply facing a a flood of imported workers.

May 09 2014 at 10:39 AM Report abuse +3 rate up rate down Reply
2 replies to Iselin007's comment
theycallmeroy3

I know one thing, that's your story line and you're sticking to it.

May 09 2014 at 10:42 AM Report abuse rate up rate down Reply
1 reply to theycallmeroy3's comment
Iselin007

It's a true story. Pension plans and higher salaries are choking the public sector which gets it's revenue from taxes.

May 09 2014 at 11:08 AM Report abuse -1 rate up rate down
jj2301

Yep! Anyone who tries to tell you there are "no qualified American citizens" to fill professional jobs is lying; businesses are just importing skilled labor to drive their costs down. The next time you see a business leader shilling for more H1B Visas, know that what they're actually doing is driving down the prospect of your children or your children's children being able to prosper in life.

May 09 2014 at 10:45 AM Report abuse +2 rate up rate down Reply