Tomorrow is May 1, and college graduation season is almost upon us. Seniors everywhere are writing their last papers, taking their last exams, preparing for the end of their college careers, and probably crying about the employment situation. College placement officers might as well be grief counselors.

For the last three years, the unemployment picture has been Ugly with a capital U, especially for those graduating from college. The Economic Policy Institute’s new paper “Class of 2011: Young workers face a dire labor market without a safety net” is a depressingly accurate take on what they face.

Glad I’m not a commencement speaker this year.