Recent college graduates are amongst the groups benefiting the most from the stutter-stepping economic recovery, according to data recently released by the U.S. Bureau of Labor Statistics (BLS). The unemployment rate for new college graduates, defined by the bureau as being between 20-years-old and 24-years-old, has continually fallen over the last two years and is now lower than the national average.
The BLS data shows that college graduate unemployment fell to 6.3% in Sept. 2012, down from 8.3% in Sept. 2011, and 9.4% in Sept. 2010. The declines continued a trend present in the first three quarters of 2012 that have shown college graduate unemployment dropping from an annual average of 8.8% in 2011 to a projected annual average in 7.5% for 2012.
Because the amount of new college graduates in the workforce has remained relatively flat—81.9% in Sept. 2012 and 81.8% in Sept. 2011—the decreases in the unemployment rate wasn’t impacted by recent graduates leaving the workforce.
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