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April 22, 2014 AT 8:30 AM
With college commencement ceremonies nearing, the government is offering a modest dose of good news for graduating seniors: The job market is brightening for new grads — a bit. But finding work — especially a dream job — remains tough for those just graduating. Many are settling for jobs outside their fields of study or for less pay than they'd expected or hoped for. The Labor Department on Tuesday said the unemployment rate for 2013 college graduates — defined as those ages 20 to 29 who earned a four-year or advanced degree — was 10.9 percent. That was down from 13.3 percent in 2012 and was the lowest since 7.7 percent in 2007. The drop reflects the steady recovery in overall U.S. economic growth and hiring.