12/11/2013 09:56 am ET

Colbert Delivers A Sad Truth About Walmart And College Graduates

Stephen Colbert opened Monday's "Colbert Report" with a harsh reality about college and jobs for today's teenagers.

"I know you're all eager to move out of your parents' house, go to college, and then move back into your parents' house," Colbert joked. But he brought up a recent news story that might make young people change their minds.

A Georgetown area Walmart recently opened with 600 job openings -- and 23,000 applicants. "Walmart is now harder to get into than Harvard," Colbert said.

Walmart has been under fire lately for its failure to provide a living wage to many employees, while the average Harvard grad makes about $60,000 directly out of college. Still, the openings at the respective institutions are getting smaller and smaller.

Check out Colbert's full clip above.