According to a recent Rutgers University report, more than half of those who have received a college degree since 2006 cannot find full-time jobs

At 15.1% — some 46 million people — the proportion of Americans in poverty is now at its highest level since 1993. The Commerce Department just reported that GDP grew at an annual rate of only 1.3% in the second quarter of 2012. When one counts all those looking for full-time jobs and unable to get them, the true unemployment rate is close to 17%. The reason that the economic recovery is coinciding with middle class decline is increasingly clear. America is creating jobs, but they are bad jobs: retailing, food preparation, and table waiting, for example — in other words, jobs that don’t pay much. Most of the job losses from 2008 to early 2010 were in the middle-income category, jobs that pay from roughly $14 to $21 an hour. What is disturbing is that in the job turnaround since then, only one in five such jobs came back. Instead, very low-end jobs, paying $7.70 to $13.80 an hour, accounted for most new employment.