The U.S. is hiring for positions ranging from sales and administrative support to legal and health care.
But the job market for new graduates has been stagnant.
According to a report released by the Federal Reserve on Thursday, the unemployment rate for people with no prior experience in the private sector is currently 5.4%, compared to 5.8% for those with a college degree or higher.
That means that even with a graduate degree, an unemployed person is still more likely to have a job than an employed person.
“With a college education or less, unemployment rate has been declining, even as wages have risen,” said Robert D. Krueger, chairman of the Federal Open Market Committee, which oversees monetary policy.
“The job market is not really producing jobs.”
But Kruegel acknowledged that many graduates still have to learn new skills.
In particular, the Fed report found that for young people who completed their degree in the last three years, only a quarter of jobs have been created in the sector, compared to 27% for the population as a whole.
“There are still some jobs that aren’t going to be filled because of the skills shortage, but those are the jobs that people will be looking for,” Kruegers said.
“We’re going to continue to see that for some time to come.”
Krueges assessment is echoed by economists across the political spectrum, who agree that the economy is in dire straits.
For some time, they’ve warned that the U.K. and other countries in the EU have been running a vicious race against time to recover their economies, while the U,S., and Europe have been stuck with massive deficits and spiraling debts.
They’re also worried that the current crisis will force a repeat of the 2008 financial meltdown.
But for the first time in years, a majority of Americans say they think the U-S.
economy is growing, according to the latest Gallup poll.
The economy is now doing better than most people thought, according with Gallup.
According the Gallup survey, 51% of Americans said they think they are doing better in their lives than they did in 2008.
However, a third of Americans (32%) said they are not doing well, and another 18% said they haven’t seen any improvement.
That said, just 15% said the economy has been in a “strong” or “excellent” state.
A majority of people say they expect the U to improve its economic performance, but only 40% said their jobs are going to improve, and 29% said jobs are likely to remain the same.