They are not getting those first jobs where you get specific skills and become more valuable over time.
California (PRWEB) April 11, 2013
March didn’t reach its predicted job growth, coming in about 102,000 jobs short of the 190,000 that economists had expected to be created. Those most affected by this shortage are young graduates, who are entering a market void of entry-level positions.
“They are not getting those first jobs where you get specific skills and become more valuable over time,” says Peter Morici, a professor of Smith School of Business.
Morici goes on to describe the “debtors’ prison” that this situation is creating: “They can’t get rid of the debt they’re taking on because the way they’re dealing with high unemployment is to go back to school and borrow money to live. It’s a terrible system.” He states that those who graduate with a specific skill set, such as engineering, nursing or accounting, will likely be able to find employment, but liberal arts majors, many of whom turn to law school when there appear to be no other options, are the ones who are suffering most.
Unemployment is down all-around, especially compared to a year ago: this March, those with a Bachelor’s degree are facing a 3.8% rate, down from 4.2% in 2012. Those with a Bachelor’s degree or higher are better off than their less-educated counterparts: those without a high school diploma are looking at an 11.1% unemployment rate, and those with just a high school diploma have a 7.6% unemployment rate.
The slight decrease in unemployment isn’t enough though, and many of the nation’s brightest youth are struggling just to afford life’s basic necessities. For those who need a financial boost while job hunting, California Car Title Loans offers a solution: secure, low-interest loans that are based on the value of the borrower’s vehicle, not his or her credit history.
A car title loan is a short-term loan meant to help the borrower out of a temporarily bad financial situation. Lenders provide borrowers with the cash they need within 24 hours of loan approval, ensuring that the borrower can pay off any pressing bills or debts. The borrower can continue to drive his vehicle as he makes the monthly loan payments, and as long as the monthly payments are met, the loan can actually improve the borrower’s credit score.
In a tough economy, California Car Title Loans wants borrowers to know that they have alternative financial options. They encourage anyone who needs help financially to call and speak with a representative to learn more about loan options.