Job opportunities, student loans on the rise for class of 2016

Michelle Obama
In this June 9, 2015, photo, first lady Michelle Obama delivers the commencement address during graduation ceremonies for the Class of 2015 at Dr. Martin Luther King College Preparatory High School held on the campus of Chicago State University in Chicago. She’s a wife, mother and lawyer, an advocate for children and military families, and first lady of the United States. Now Obama has added a new gig: magazine editor. The first lady is "guest editor" of the July-August issue of More, which bills itself as the magazine for "women of style and substance." (AP Photo/Christian K Lee)

INDIANAPOLIS (WISH) — Finding a job may be much easier for the college graduating class of 2016.

The Economic Policy Institute recently published a report that stated the unemployment rate for recent college graduates is 5.6 percent, the lowest since June 2008. Since the Great Recession college graduates have been having a hard time gaining employment.

While the situation seems to be improving for college graduates, more improvement is needed.

The reports says there is a lack of quality jobs for recent college graduates and one in eight college graduates in underemployed, meaning they have a job that does not require a college degree. This is a big burden for the graduates given the cost of college has been skyrocketing over the years.

Between 1984 and 2015, the cost of a four-year degree from a public university has increased by 125 percent. And the New York Federal Reserve reports a 92 percent increase in the number of student loans between 2004 and 2014.

The Economic Policy Institute also reports while the unemployment rate for men and women is the same, there’s a big difference when it comes to pay. It states young male college graduates earn about $21 an hour while young female college graduates earn $16.58.

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