MichiganRadio

Graduating to Unemployment ANN ARBOR, MI (Michigan Radio) -


Michigan college seniors will soon be looking for jobs.

A new report says they are entering the worst job market in a decade.

John Challenger is with Challenger, Gray & Christmas. It's the nation's oldest executive job placement company.

He says the job market for soon-to-be college graduates is the worst since the dot-com bust at the end of the 1990's. Challenger says the unemployment rate for 20 to 24 year olds is almost twice as high as the national jobless rate.

"Any downturn is especially hard on young people. They're forced to compete with more experienced jobseekers. And certainly this is no exception," says Challenger, "A lot of people fighting for those entry level jobs."

Challenger says college grads looking for jobs in banking and finance are running into the biggest walls this year. That sector is shedding tens of thousands of fulltime jobs. © Copyright 2012, Michigan Radio