Money Minute: Job Market Improves for College Grads

The job market for college grads is improving.

College seniors about to receive their degrees are finding the job market a bit less scary than it's been in recent years. But many are still settling for jobs, often low paying positions, outside of their area of study. A government report shows the unemployment rate college grads was 10.9 percent last year. That's down from 13.3 percent in 2012 and the lowest rate since 2007.

These newly minted grads are joining a workforce that's far from happy. An annual survey by the American Psychological Association finds a majority of workers aren't satisfied with their professional growth opportunities. Many workers are also angry that their employers made them sacrifice during tough times, but have not shared their big gains in recent years. The Wall Street Journal is the first to report on this survey.

%VIRTUAL-article-sponsoredlinks%JetBlue Airways (JBLU) pilots have voted to unionize, after two previous efforts to do so were voted down. This time the vote was overwhelming, even though the JetBlue pilots earn about the same as their counterparts at the major carriers. The company recently warned that unionization could increase operating expenses.

The Dow and the S&P are now within one percent of their all-time highs. But the S&P's six session win streak is once again raising concerns that the market is near a top.

A study released this week by Bankrate.com shows a large majority of Americans don't trust the stock market -- apparently scarred by the market collapses in 2000 and 2008. Many of those investors are sticking with conservative investments like cash and bonds -- which have significantly underperformed stocks over the past few years.

The Dow Jones industrial average (^DJI) rose 65 points yesterday, the Standard & Poor's 500 index (^GPSC) gained 7, and the Nasdaq composite (^IXIC) jumped 40 points.

Finally, the NBA's Golden State Warriors plan to build what the team calls a "state of the art sports and entertainment center" in downtown San Francisco. It purchased the land from Salesforce.com.

-Produced by Drew Trachtenberg.