As a recent college graduate, I am here to tell you: the job market is dismal. Last year, workers ages 16-24 (a generation also known as the Millennials) faced an unemployment rate of 18.4 percent. This is the highest unemployment rate for this age group in the past 60 years. The U.S. Labor Department recently reported that there are four unemployed American for every one new job that becomes available. That’s some pretty tough competition, if you ask me.
So what should recent grads who want to start their careers do? One option is to move back in with Mom and Dad until things improve. In fact, 85 percent of recent graduates are doing just that. By living with their parents, Millennials can reduce their living expenses and focus on reducing the large amount of debt that they probably incurred during college.
Another option will take students far away from their parents’ house. I thought I was being somewhat unusual when I decided to look outside our nation’s boarders for a job, but evidently, that is one of the biggest trends among Millennials. Where are these ex-pats going to start their careers? Many are going to Asia, where they can teach English and learn about a culture that is very different from their own. Japan and South Korea are two very popular options, with high wages and low costs of living luring in many recent graduates.
In addition to teaching English, Millennials can pursue the careers that they studied in college. One of my friends recently moved to Singapore to work in an advertising agency. The advertising field is quickly growing in Singapore and third-world countries, so this was a great opportunity for my friend.
Students can also consider joining the Peace Corp or Doctors Without Borders. These career paths will probably not be as financially lucrative as the other jobs mentioned above, but they will definitely be emotionally and personally fulfilling. In my opinion, this is a much better alternative than making minimum wage doing something you hate.
Corrie Hulse is a recent college graduate who is returning to work in South Korea for the third time.
“I think… for Millennials, right now, there is a greater opportunity for us internationally,” Hulse said. “We were built for this international market. We are mobile, adventurous, tech savvy, and grew up knowing the world was at our fingerprints. More importantly, the international market wants us!”
Via USA Today