Yellen to 2016 Grads: "You're Entering The Strongest Job Market in A Decade"
"The short version of what I have to say is that while I expect workers will continue to face some challenges in the coming years, I believe, for two reasons, that the job prospects and career opportunities for new graduates at this time are very good," Yellen said.SourceShe cited the unemployment rate of 4.6% — a pre-recession low — and wage growth for younger workers. A report the Fed released earlier on Monday showed that young workers were optimistic about their job prospects even though they faced higher unemployment rates than the rest of the population.
She also goes on to say that economic gains raised most living standards and that job creation continues at a steady pace.
To play devil's advocate:
Here's the Fed's Labor Market Conditions Index:
And to counter the claim of raised wages:
Well, it may be true but still not great news for college grads. The FED is setting the bar fairly low. Beyond recent college grads, there are still millions of discouraged workers, part-time workers and 40% of those aged 25-30 still live at home (lowest since great depression).
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