'Don't Go To Law School,' 'Move To Asia,' And 28 Other Pearls Of Wisdom For 2012 Grads

The American Bar Association is looking for a "law school data cop" to make sure schools don't "fudge" post-graduate job stats, the National Law Journal reports.

If you're graduating this year, you may be biting your nails about what will happen in terms of finding a job. Everywhere you turn, people are saying they're just not hiring. What's a new grad to do?

Forbes has released its 2013 list of the world's richest people, and not surprisingly, some of them have law degrees. 

Legal educators are still fantasizing that law firms will create more positions for new lawyers. The latest pipe dream suggests that big firms will "give talented graduates of less prestigious institutions a chance to shine" in residencies that teach lawyering skills.

Early news reports suggest that the job market for college graduates is improving for this year's graduating class, and it might be the best job market in four years, here's a sample:

The USA Today reports graduating class of 2012 is in for a rude awakening as Half of new graduates are jobless or underemployed. A weak labor market already has left half of young college graduates either jobless or underemployed in positions that don't fully use their skills and knowledge.

From a BLS report released earlier this month, "America's Young Adults at Age 24":

LET me make one additional point about the latest unemployment numbers (with the repeated proviso that due to population adjustments, comparisons across years are imperfect). I've mentioned before that one interesting fact about the downturn is that unemployment rates have doubled, across the country and across demographic groups, almost as a rule. So if we look at the unemployment rate for high school graduates we see that it's much higher than for college grads—9.4% compared to 4.2%.