It's that time of year when wide-eyed college grads head out into the real world. This year 1.6 million men and women, fresh from wearing cap and gown, will be running smack into a job market with 9.9 percent unemployment rate. The White House is worried. “What’s clear is that there is harm to those who graduate at the wrong time through no fault of their own, which is one reason why it is so important to improve the jobs market,” said budget director Peter Orszag. “That is the bottom line here.” Even more shocking for new grads is the data which suggests that graduating into a sour economic can put a crimp on a lifetime of earnings. Adding further pressure, many from the class of 2009 are still out there looking for work.