It's not unusual and never has been that people doen't get jobs in their majors. 50% might be a little higher than normal, but not much. Half the people I know are working in a different field than they went to school for.
Agreed. there are a lot of factors contributing to all of the ails of the country. One contributing factor to unemployment is less elderly people are retiring. Partially due to the age to be eligible to retire and get Social Security benefits is consistently rising. Partially due to the fact that cost of living is increasing, but social security benefits are not increasing at the same rate - making it nearly impossible for elderly people to live comfortably after retirement. This means that elderly people are being forced to work well past retirement age, meaning those jobs are
not opening up for the new graduates coming into the work force. This means not enough elderly are leaving the workforce (where they wouldn't be counted as "unemployed" anyway) for their younger counterparts to take over.
Another contributing factor to unemployment is that manufacturers began sending their jobs out of the country (where they could get the labor for cheap), that put many (
many) Americans out of a job. Detroit, in particular, was gutted from the absolute hemorrhaging of jobs out of the country. The auto industry, indeed, counted on unskilled laborers to manufacture their cars. The union got greedy about money and started demanding that people with little more than a high school education (sometimes even less), be paid $20-30 an hour for unskilled labor. The auto companies, with that kind of cost, probably couldn't help but send the jobs overseas where the same unskilled labor could be obtained for $3-5 an hour. So now, those unskilled laborers in the manufacturing sector who were used to making $50-80,000 a year for putting cars together could no longer afford their upscale, suburban, homes (nor their vacation homes in Northern Michigan, in the case of most Detroit auto workers). Those houses then went into forclosure. Those unskilled laborers, without a marketable skill, and without the education to be versatile, became either unemployed, or employed at a minimum wage job. This then became a contributing factor for both the housing market bubble
and the tourism industries in the towns where these vacation homes were built.
My point is that there are a
lot of contributing factors to all the ails of the country: unemployment, underemployment, housing, the deficit, etc. There is no "one thing" that caused any of those things. But, I would argue, a more mixing and mashing of different problems that had its beginnings many years ago (well before Obama was in office) that's ripples have spread and grew to affect many other issues. Much like a domino effect where the dominoes are falling every which way, sending chains falling this way, which hit another chain that starts falling in another way.