According to the non-partisan Economic Policy Institute, the job prospects for recent college graduates are grim. For those younger than 25, unemployment averages 9.4 percent. An additional 19 percent hold jobs they're overqualified for.

The federal government wants to tap in to that young talent. For the first time in decades, they launched a new initiative designed to improve the way they recruit and hire college graduates.

The Federal Coach Tom Fox discussed the "Pathways Program" with Capital Insider.