Thank you, President Schmoke, for this award and for the opportunity to be here today to offer my congratulations to the members of the Class of 2016. I would also like to recognize the vital support students have received from family, friends, and others, many of whom are here to share this great occasion.

In a moment, I will explain why I am particularly proud and honored to be speaking to the new graduates of this university, but first I'd like to address students on a topic that I expect is on the minds of many of you, which is the job market.

The short version of what I have to say is that while I expect workers will continue to face some challenges in the coming years, I believe, for two reasons, that the job prospects and career opportunities for new graduates at this time are very good. First, after years of a slow economic recovery, you are entering the strongest job market in nearly a decade. The unemployment rate, at 4.6 percent, is near what it was before the recession. This is a level that has been associated with good job opportunities. Job creation is continuing at a steady pace; the layoff rate is low; and job openings are up over the past couple years, which is another sign of a healthy job market. There are also indications that wage growth is picking up, and weekly earnings for younger workers have made strong gains over the past couple of years. That is probably one reason why younger workers reported feeling significantly more optimistic about the job market compared with 2013, according to a survey published just today by the Federal Reserve.¹²³⁴⁵ For example, some of you may be worried about paying off loans you have taken out to pay for your education. The good news is that the vast majority of student borrowers who complete their degrees find work that allows them to keep up with their payments and pay off their loans.

Everything I have said so far could apply to the graduates this year of any college or university. The rest of what I have to say is about you, the 2016 graduates of the University of Baltimore. I have learned a bit about you recently, with the help of the university's staff. Let me tell you a few things about some of your classmates that you may not know.

Among you today is a full-time student who found the time each semester to volunteer with non-profit organizations, including one that helps refugees from other countries find their place in this community. Another of your fellow students, who used to doubt that she could ever afford college, has become a student leader. She made the Dean's List every semester after transferring from community college.

Like many of you, another of your fellow graduates took day and evening classes to balance work and family demands. She was forced to change jobs to accommodate this schedule. She later decided her future lay in digital communications, which required her to switch majors after taking some required classes. Today she will become the first person in her family to graduate from college.

Some of you were born in other countries. One of you lived in four other countries before coming to the University of Baltimore for a master's degree. Many of you have contributed to the sense of community at the University of Baltimore by actively participating in student life. One of you has even decided to seek a career helping other students as a student affairs professional.

These are a few of the outstanding people who will join you in walking across this stage today. Let me describe one more.

To that student, sitting in the audience, I would say: you deserve a tremendous amount of credit. Based on what I have learned, you did not have all of the advantages that can pave the way to college and graduate school. You overcame obstacles to make it here, and more obstacles to complete your degree. One of the biggest of these obstacles, in fact, was that some people doubted you could or would succeed. But others in your life believed in you. Some of them are here today. They believed in you, and you believed in yourself, and your talent and intelligence and hard work enabled you to earn the degree you are about to receive.

If this sounds like you, then you are absolutely right, because I am not describing just one member of the University of Baltimore's Class of 2016--I am trying to describe every one of you. In different ways, I expect all of you have overcome obstacles and demonstrated resilience and determination to succeed. All of you have gained knowledge and used your intelligence and talents to complete your degrees. As impressed as I am with any individual graduating today, I am more impressed with what all of you have achieved.

Let me tell you what else I have learned. More than the students of some colleges and universities, I know that many of you have deep roots in this city and in the county. Many of you will start careers, build your lives, and raise your families here. The challenges you have overcome are the challenges faced by many people in Baltimore and in communities throughout America. Your success, which we celebrate today, is also the promise of a brighter future for this city. The degrees you have worked so hard to earn and the opportunities now opening up to you represent the stubborn, earnest hope that anyone and everyone who strives to succeed still can succeed.

And that is why I consider it a rare privilege to speak to you today, and a great honor to be associated with the University of Baltimore and the members of the Class of 2016. Thank you, and congratulations.