Despite a small drop in the unemployment rate for August, many college graduates remain jobless or underemployed with work that does not encompass the full potential of their degrees.  
According to the United States Department of Labor statistics, the unemployment rate fell from 8.3 percent in July to 8.1 percent in August.  The United States added a mere 96,000 jobs in August, compared to 2011’s average of 153,000 jobs every month.  
John Lajaunie, professor of finance, said as consumers continue to draw back on spending, businesses are not able to increase demand and offer more jobs.
“The economy is not necessarily the kindest system when it makes the necessary adjustments,” Lajaunie said.
The United States Department of Labor also reported that there are 23 million Americans who are underemployed.  Many college graduates were represented within this group, with work that required a high school diploma or less, such as bartenders, food service helpers, receptionists or retail clerks.  
According to government projections, only three out of 30 occupations with the largest projected number of job openings by 2020 will require a bachelor’s degree or higher.  Those jobs are teachers, college professors and accountants.
However, for the month of August, there was an increase in jobs for food service and drinking places by 28,000 job gains.  Professional and technical services saw a gain of 27,000 jobs while health care also rose by 17,000 jobs.  
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Lajaunie said as graduates continue to struggle with job searches and underemployment, there has been an increase in graduate school enrollments and students who seek internships.
“People think the best way to wait it out is to continue going to school,” he said.   “Employers don’t have a lot of job openings, and they are in a position to pick the one (an employee) that is best fit.”
Peter Jenkins, a 2012 government graduate, said he plans on going back to school to get his master’s in public administration since the job market is so tough, and there are not many opportunities available that peek his interests.  
“While the economy is improving, it’s not quite back to the point where I can get a well paying job that would help me live and pay off my loans,” Jenkins said.  
Kristie Tauzin, director of career services, said although some people may feel underemployed or unhappy with certain job opportunities, it is about finding the right company that can be your stepstool.  
“It’s not about finding the perfect job right away but about finding the perfect company or organization that you want to build a career with,” Tauzin said.
She said one of the biggest mistakes students make when applying for a job is not seeking advice about their resumes.  
“Too many graduates send their resumes out without having someone look at it,” Tauzin said.  
To help students expand their potential on resumes, Tauzin said every bit of experience counts.  Whether it is an internship or a retail job as a cashier, students should maximize the benefits of their experience to bring recognition to themselves, she said.  
Timothy Diehl, director of career planning at Bowdoin College in Brunswick, Maine, said making connections with someone in a company opens opportunities to a “hidden job market.”  
By applying for internships and building relationships with other people “you separate yourself from the giant pool of people with no known connection to the firm,” he said.   
The office of career services at Nicholls offers students and alumni the opportunity to review and upload their resumes to an online database.  After registering with the database, students have the opportunity to search for jobs posted by employers.  In addition, employers also have the opportunity to search student resumes that fit their needs.  

Learning to adapt

In regards to the economic slump Americans have experienced for the past five years, Lajaunie said there are positive and negative aspects to the debate.  
On the positive side, Lajaunie said as a nation, Americans are coming to grips with living within their means.  On the negative side, people continue to worry about job stability and pay raises while at the same time they are not willing to spend more money to boost the economy.  
He said right now businesses on a broad scale are not expanding.  The last time the nation saw 4% unemployment, Lajaunie said, it’s because people were spending more money than they had in their pockets and were going deep into debt.  
“Our economy is driven by consumer spending,” Lajaunie said.  “How people view the future determines what they are willing to spend today.”