Education & the Workforce Committee Chair:

Another Month of Solid Job Growth Adds Momentum to a Strong Economy for College Graduates

WASHINGTON, D.C. – Highlighting yet another strong jobs report from the U.S. Department of Labor, U.S. House Education & the Workforce Committee Chairman Howard P. “Buck” McKeon (R-CA) today noted the 138,000 jobs added in April are further proof that this year’s college graduates are entering the strongest job market in five years.  A Challenger, Gray & Christmas analysis published earlier this spring singled-out this year’s economy as the best for graduates since the dot-com bubble burst in 2001.

Today’s Labor Department report means about 5.2 million jobs have been created since August 2003, and the agency also reported that the nation’s unemployment rate is holding steady at 4.7 percent – lower than the average of the 1970s, 1980s, and 1990s.

“College graduation ceremonies will take place nationwide over the next several weeks, and today’s news on the jobs front should give graduates added optimism,” noted McKeon.  “Not only are they about to begin the next chapter of their lives, but they are poised to do so in the hottest job market we’ve seen in years.”

McKeon pointed to a recently-published survey from the National Association of Colleges and Employers, revealing that employers plan to hire 14.5 percent more new college graduates than they did just a year ago.  The group also noted that about nine out of every ten companies have reported increased competition over new graduates in 2006.

“Republican economic policies have worked – and worked well,” McKeon concluded.  “Our economy grew at a rate of about five percent last quarter, unemployment remains historically low, and another solid new jobs number was announced today.  Simply put, our college graduates are in a strong position to go out and look for that first job out of school.”

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