Real earnings for young college grads have fallen by over 15% since 2000, or by about $10,000 in 2011 dollars. That is if they have a job in the first place. The unemployment rate for recent college graduates continues significantly higher than for the population as a whole.
A few things are going on here. Given the unkowns of Obamacare and other regulations, it is very risky for an employer to take on new employees, since the cost of the hire can not be completely be determined. Second, you have the roller-coaster economy because of the stop and go manipulations of the Federal Reserve, which adds uncertainty for businessmen. Finally, you have the devaluation of a college degree by the government as they make it easy through loans and state education for near anyone of any educational ability to get a degree.
(Via Tyler Cowen)