Despite Friday’s unemployment rate dropping to 5.9 percent nationally, New York City is still home to the dead-end kids.
Half of the city’s 600,000 recent college graduates are either underemployed or out of work, according to New York Fed researchers.
Most of this 50 percent are working in jobs they are overqualified for — no college degree required — and that are often low-pay, part-time and without benefits. It’s a vast jobs wasteland out there for this Millennial generation. [...]
While employment grew by 2.2 percent in New York City in the last 12 months to August, the grim news is that the top three job gainers included low-wage and minimum wage-level employment in education and health services, according to Catherine Ruetschlin, a senior policy analyst at Demos.