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Young graduates struggle for Silicon Valley jobs

(Agencies)
Updated: 2008-12-09 10:42

Hard Figures

US unemployment statistics show Crawford has plenty of company. Americans between 20 and 29 years old have the highest unemployment rate of any age group, according to the US Bureau of Labor Statistics.

Christine Chase, 24, sits at her computer in her apartment in Campbell, California December 8, 2008. Chase was laid off from her contractor job at AT&T in the Silicon Valley in August, and is struggling to pay her bills with the money she receives from unemployment. With the holidays approaching and four fruitless months on the job search, she recently registered with a recruiting agency for help finding a job. [Agencies]

The unemployment rate for Americans ages 25 to 29 years-old jumped to 7.3 percent in November from 5 percent a year earlier, while for Americans 20 to 24 it rose to 10.4 percent from 7.7 percent. The national unemployment rate is 6.7 percent.

Unemployment among young adults usually spikes during bad times, according to Bureau of Labor Statistics economist Amar Mann. Unemployment rates among 20- to 29-year-olds rose faster than older age groups during the two most recent US recessions, in 1990 and 2001.

It's also common for young Americans to head to graduate school or extend their undergraduate education rather than enter the workforce during tough economic times. Mann observed slight increases in graduate school enrollment during 1990 and 1991.

"Getting a master's or a PhD eventually does equate to a higher salary," Mann said. "Especially when your job prospects aren't that bright, you might be more willing to forgo two years in the workforce to get more education to increase your marketability."

Many college graduates in the Valley are grappling with the decision to take a service job or continue to hold out for a position that utilizes the skills they gained in college.  

"I don't want to go into a restaurant (and work). I want to be able to use my degree," said Christine Chase, 24, of Campbell, California. Chase was laid off from her contractor job at AT&T in August and is struggling to pay her bills with her unemployment benefit.

With the holidays approaching and four fruitless months on the job search, Chase recently registered with a recruiting agency for help finding a job.

"I'm going to have to be a little more flexible now and take what I can get."

Employers will be more attracted to those who adopted a flexible attitude towards the job search and took advantage of open employment opportunities, regardless if the job required a college degree, according to Kiley.

"This is not the time that pride is going to stand in the way of your paycheck," said Kiley. "Sometimes you have to humble yourself."

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