Rough college job market suggests wider slowdown

(CNN)– The unemployment rate for U.S. college grads had jumped over the past year.

It is now above 12% for students with bachelor’s degrees.

That’s 4 points higher than a year ago, according to the Bureau of Labor Statistics.

Economists say it means job applicants are competing with more people for the same position, compared to a year ago.

It could also be an indicator of a weakening economy, if college grads are having more diffculty finding employment this Summer.