Orlando, FL (PRWEB) March 22, 2013
The Bureau of Labor Statistics reports that recent male college graduates are the one group at the greatest disadvantage regarding employment. This group alone faces a 16.1 percent unemployment rate, where job seekers with less than a high school education are looking at 13.7 percent. Out of the 100,000 unemployed people who were polled, approximately 16,100 are recent male college graduates. That number, paired with the four percent unemployment rate for college graduates who are not recent grads, is fairly disturbing considering the average loan amount owed is $30,000. For the aforementioned graduates, money is a scarcity and an alternative loan market is being created.
While the market for young job seekers is getting brighter, most college graduates have to wait longer than ever before getting a degree-appropriate job. Over the last eight years, 42 percent of the above mentioned graduates have found themselves in jobs requiring a college degree or in a job requiring their specific degree. This means that many college graduates, though currently suffering from unemployment, are better off than those with a high school diploma or less.
Even with facts and statistics, the cost of education remains high and the loan bubble grows. While the unemployment numbers have risen all-around, it is getting progressively more difficult for males with college degrees to obtain a job in their field shortly after graduating. Unemployment will always be higher during a recession but the younger generation, again, tends to suffer the most in these circumstances.
Despite the unemployment rate rising, the loan market that has been created by students is a big one. Florida currently has the largest market for auto equity loans. An auto equity loan, or a car title loan, is a fast way to acquire necessary money at low interest rates and with flexible repayment plans. Orlando Auto Equity Loans offers up to 42 months to pay off a loan and can get borrowers the cash they need in as little as 24 hours. The title of the car is the only necessary thing required to obtain the loan.
With the increasing price in education paired with the increasing amount of students going to college, as well as the amount of student loans being taken out, it’s fair to assume that the job market will have to change drastically in order to meet the new job seeker’s needs. As the years go on and fewer graduates find jobs, the amount of unemployed recent graduates will continue to rise as well and the pool will continue to increase. With more students facing unemployment and graduating without any job prospects, more graduates owe money without having a feasible way to pay any of it back. Orlando Auto Equity Loans, however, is a reliable source of funding that allows people a fast way to pay off debt.