Young America's Foundation has been reporting on the extreme levels of youth unemployment for more than a year. Last year, YAF released the Youth Misery Index (which will be updated soon) to highlight the economic suffering of youth Americans.  

Finally, the media is catching up--even the Left's Huffington Post:

WASHINGTON — The college class of 2012 is in for a rude welcome to the world of work.

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.

Young adults with bachelor's degrees are increasingly scraping by in lower-wage jobs – waiter or waitress, bartender, retail clerk or receptionist, for example – and that's confounding their hopes a degree would pay off despite higher tuition and mounting student loans.

An analysis of government data conducted for The Associated Press lays bare the highly uneven prospects for holders of bachelor's degrees.

Opportunities for college graduates vary widely. 

Full article: *HuffPo*