After a grim summer, a jobs report released Friday showed the national unemployment rate had dropped below 8 percent for the first time in 43 months, indicating an upswing in the job market — but that doesn’t necessarily imply improved prospects for college graduates.
The data in the Bureau of Labor Statistics’s report showed several inconsistencies, said finance professor Michael Faulkender, meaning the economy may not be recovering as strongly as the numbers suggest. While it showed 114,000 more citizens had jobs in September than in the previous month, Faulkender said much of the growth could have stemmed from part-time positions in small businesses, which largely won’t help graduates’ prospects after earning a degree.
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