Value of College Degree Now Negative

Yet another reason to regret that college education: While unemployment nationwide began going down last month, guess which way unemployment among recent college grads moved? That's right: Up! Is there a "grim case study" to illustrate this problem, we wonder?

Kyle Daley, recent UCLA grad, 3.5 GPA, political science—tell us his tale of woe, LA Times:

Since January, he has applied for about 600 jobs, mostly entry-level positions such as office assistant, junior analyst and marketing associate. He has reached out to small firms and Fortune 500 companies in aerospace, entertainment, finance and government, from Alabama to Washington state.

The results: two interviews, one in person and another over the telephone, neither of which panned out. Compounding his financial bind, Daley doesn't have enough work history to qualify for jobless benefits. So he lives with his parents and gets around with mass-transit tickets from his mom.

Soon all these college grads who can't get jobs will apply to grad school just to have something to do. So in two years, you'll need a master's degree in order to get a telephone interview at an Alabama finance firm.

You will be politely rejected.
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