Chinese officials are expected to be in Washington this week to hold consultations with the U.S. ahead of high-level trade talks in October.World Economyread more
Saudi Arabia's defense spending is the world's third-largest — behind the U.S. and China, says Gary Grappo, former U.S. ambassador to Oman.Energyread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
More American workers are college educated than ever before. Yet the share of recent graduates who are unemployed or working jobs that don't require a degree is on the rise.
To solve that mystery, people often turn to the graduates themselves, said Molly Scott, a senior research associate at the Urban Institute, a nonpartisan think-tank in Washington. She said they ask questions of the student such as whether she chose the "right" degree or if his credentials are sufficient.
"What's missing in that narrative is understanding the structure of the labor markets people are trying to insert themselves in," Scott said.
Most urban economies simply have more college graduates than they need, according to a new study she co-authored. "In a lot of places, people have skills and education that are not seen as resources," Scott said.
In an analysis of 387 cities, Scott found nearly 90 percent of them hold more people with a bachelor's degree (or more) than jobs requiring that level of education.
The researchers analyzed education levels of residents and available jobs using the 2016 American Community Survey, which measures educational attainment, and Department of Labor statistics on employment in more than 800 occupations.
The strongest job markets for college graduates in midsize cities include California-Lexington Park in Maryland and Hanford-Corcoran, California. In large cities, recent graduates will likely find themselves in demand in Merced and Bakersfield, California.
On the other hand, a college degree is unlikely to get you in the door in midsize cities like Ithaca, New York, or Iowa City, Iowa. Neither will a degree stand out in cities like Fort Collins, Colorado, or Ann Arbor, Michigan.
When most or all of the applicants an employer hears from are college educated, he or she will "inflate" their requirements with additional degrees and experiences, Scott said. As a result, many prospective employees can't keep up with the credentials that are being demanded.
The answer then is not to continue to send more people to traditional colleges, the researchers conclude, but to expand work-based, more affordable education paths.
Employers, for their part, should move toward skill-based hiring and put less weight on the lengthening lines and letters found on resumes, they write.