Money Minute: Job Market Improves for College Grads

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The job market for college grads is improving.

College seniors about to receive their degrees are finding the job market a bit less scary than it's been in recent years. But many are still settling for jobs, often low paying positions, outside of their area of study. A government report shows the unemployment rate college grads was 10.9 percent last year. That's down from 13.3 percent in 2012 and the lowest rate since 2007.

These newly minted grads are joining a workforce that's far from happy. An annual survey by the American Psychological Association finds a majority of workers aren't satisfied with their professional growth opportunities. Many workers are also angry that their employers made them sacrifice during tough times, but have not shared their big gains in recent years. The Wall Street Journal is the first to report on this survey.

JetBlue Airways (JBLU) pilots have voted to unionize, after two previous efforts to do so were voted down. This time the vote was overwhelming, even though the JetBlue pilots earn about the same as their counterparts at the major carriers. The company recently warned that unionization could increase operating expenses.

The Dow and the S&P are now within one percent of their all-time highs. But the S&P's six session win streak is once again raising concerns that the market is near a top.

A study released this week by Bankrate.com shows a large majority of Americans don't trust the stock market -- apparently scarred by the market collapses in 2000 and 2008. Many of those investors are sticking with conservative investments like cash and bonds -- which have significantly underperformed stocks over the past few years.

The Dow Jones industrial average (^DJI) rose 65 points yesterday, the Standard & Poor's 500 index (^GPSC) gained 7, and the Nasdaq composite (^IXIC) jumped 40 points.

Finally, the NBA's Golden State Warriors plan to build what the team calls a "state of the art sports and entertainment center" in downtown San Francisco. It purchased the land from Salesforce.com.

-Produced by Drew Trachtenberg.


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23 Comments

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maceandemma

Good for those pilots. Strong Unions make for a strong economy.

April 23 2014 at 4:22 PM Report abuse +3 rate up rate down Reply
obielies

vote~~> http://www.teaparty-platform.com/ <~~ in 2014 n together we can put a stop to obamits ~"WAR ON AMERICA"~ along with his record unemployment n record foreclosures for the last 5 years now. !!~~TP/ 2014~USA. !

April 23 2014 at 2:19 PM Report abuse -3 rate up rate down Reply
progressivehoax

Barthold keeps spewing the copy and paste crappola and irqhide continues boasting about something he wishes he could afford. What a country.

April 23 2014 at 1:32 PM Report abuse -4 rate up rate down Reply
rtutbucks

I will never fly Jet Blue again

April 23 2014 at 1:07 PM Report abuse -5 rate up rate down Reply
Tom

The economy has NO chance of improvment as long as we have Bill Clintons' NAFTA. You CAN NOT replace $30 a hour jobs with $10 a hour jobs.........
They just keep hoping that we ALL will forget. But that will never happen.

April 23 2014 at 1:02 PM Report abuse +1 rate up rate down Reply
1 reply to Tom's comment
sam54ct

Dead back one year before Clinton, it was Bush Senior, who along with Mexico, and Canada stood on stage, on the News, and signed off on NAFTA. Clinton Ratified the agreement, ie. made it Law.

April 23 2014 at 2:12 PM Report abuse rate up rate down Reply
Iselin007

Download Cpsaat01 pdf from BLS.gov The document gives you a view of the labor statistics from 1943 to 2013.

I think the above document will show the true direction of the economy via the constant higher unemployed numbers.

April 23 2014 at 12:33 PM Report abuse -3 rate up rate down Reply
Iselin007

Somebody tell these grads that they don't need a 4 year degree in a stem field to pull pallets of freight at the big box store.

April 23 2014 at 12:02 PM Report abuse -2 rate up rate down Reply
Iselin007

They are running out of ways to hide the true numbers of unemployed.

I know companies that did not appear in the news that outsourced jobs to Mexico and Asia.

April 23 2014 at 11:45 AM Report abuse +1 rate up rate down Reply
obielies

obamits welfare / food stamp corporation~~no education needed,just free handouts from uneducated obamit himself. !!

April 23 2014 at 11:21 AM Report abuse -2 rate up rate down Reply
Iselin007

US Grads have been piling up for years now because of the tech visas like H1B ect.

Generations of manufacturing workers have suffered job gaps and retrained over the last 2 decades only to have gotten older and abused by desperate younger people.

April 23 2014 at 11:12 AM Report abuse -1 rate up rate down Reply