For those over the age of 25 who’ve earned a bachelor’s degree, the unemployment rate stays far below the national average of 3.7% (as of July 2019). Extrapolating from the data, it seems that college students who majored in certain disciplines tend to have a greater chance of being both unemployed and underemployed. The unemployment rate for recent grads is higher today than it was from late 2006 to early 2008 and during the 1997-2001 expansion. It seems evident that recent graduates suffer financially if they didn’t select a major that is demanded in this current economy. All Rights Reserved, This is a BETA experience. The national unemployment rate was 6.7% in November 2020, according to the U.S. Bureau of Labor Statistics (BLS). In 2019, the biggest difference in employment rates between recent tertiary graduates and recent generalist graduates (among those aged 20–34) was recorded in France, where the former had an employment rate that was 31.2 percentage points higher, while differences of 27-28 points were recorded between these two subpopulations in Italy, Austria, Germany and Belgium. During these years, the same patterns in employment rates were observed for those at most levels of educational attainment. The employment rate (also known as the employment to population ratio) is the percentage of persons in the civilian noninstitutionalized population who are employed. The unemployment rate for bachelor’s degree holders in the US is 2.1%. While the unemployment rate for white graduates has essentially recovered to its 2000 level, unemployment rates for other racial/ethnic groups remain well above their 2000 levels, and the gaps between the white unemployment rate and the black, Hispanic, and AAPI unemployment rates for young graduates are significantly larger than they were in 2000. The underemployment (insufficient work) rate for college graduates in 2015 was 6.2% overall: 5.2% for white graduates, 8.4% for Hispanic graduates, and 9.7% … The likelihood of graduating from college and being unemployed was virtually the same between men and women: 71.6 percent of men and 72.8 percent of women who recently earned a bachelor’s degree were employed in October 2018. The youth unemployment rate currently sits at 55.2%, with almost two-thirds of unemployed South Africans falling into the youngest age bracket. This statistic shows the unemployment rate of recent graduates in the United States from January 2016 to September 2020. To find which college majors have the highest and lowest unemployment rates, tutoring firm HeyTutor analyzed data from the U.S. Census Bureau 2016 & 2017 American Community Survey. Article share tools To find which college majors have the highest and lowest unemployment rates, tutoring firm HeyTutor analyzed data from the U.S. Census Bureau 2016 & 2017 American Community Survey. By contrast, the jobless rate for college graduates fell to 2%, the lowest point in five months. June 3, 2019. The unemployment rate of recent college graduates (4.0% as of September) has now been higher than all workers (3.65%) for six straight months. Unemployment Rate Among labour Force Participants (aged 15 Years and above) by Governorate, 2018 17.2 17.6 37.5 52.0 0 5 10 15 20 25 30 My career advice will cover everything you need to know, including helping you decide if you really should seek out a new opportunity, whether you are leaving for the wrong reasons, proven successful interviewing techniques, negotiating a salary and accepting an offer and a real-world understanding of how the hiring process actually works. The unemployment rate grew to 4.1% in the three months to July, compared with 3.9% previously. The New York Federal Reserve Bank came out with a disturbing report that looks troublesome for college students, recent graduates and their parents. Every year, over 290,000 students graduate from institutions of higher learning. Table C shows the effect of the introduction of new population estimates on the comparison of selected labor force measures between December 2019 … Opinions expressed by Forbes Contributors are their own. Figure 3. Unemployment Rate - College Graduates - Bachelor's Degree, 20 to 24 years (CGBD2024) Download Oct 2020: 7.9 | Percent | Monthly | Updated: Nov 6, 2020 If they are unable to climb the first rung of the corporate ladder, they’ll fall fast behind. I have been quoted in more than 10,000 newspaper and magazine articles about college admissions and financial aid. The unemployment rate for people with some college or an associate degree was 2.8 percent in January 2020, down from 3.4 percent a year earlier. Is Now a Good Time to Be Graduating from College? NOTE: Data are based on sample surveys of the noninstitutionalized population, which excludes persons living in institutions (e.g., prisons or nursing facilities); this figure includes data only on the civilian population (excludes all military personnel). For black college graduates, the rate climbs to 6.8%. January 11, 2016. By The Associated Press. Contact Us: If you have any questions about The … Hispanic graduates have a 6.4 percent unemployment rate, 1.6 percent higher than in 2000. When you’re stuck in a cycle of low-paying, go-nowhere jobs, it's as mentally and emotionally difficult as being unemployed. By contrast, the jobless rate for college graduates fell to 2%, the lowest point in five months. The overall unemployment rate held steady at 3.8%. Mass Media majors have an unemployment rate of 7.8%. Jobless rate falls for college graduates but climbs for Americans without high school diplomas… According to statistics, the unemployment rate for recent college graduates has been higher than all college graduates in the past decade, implying that it has been more difficult for graduates to find a job in recent years. The likelihood of graduating from college and being unemployed was virtually the same between men and women: 71.6 percent of men and 72.8 percent of women who recently earned a bachelor’s degree were employed in October 2018. Underemployment among graduates is high. Universities must act quickly to help their students and alumni. I am passionate about advocating for job seekers. College graduates at a job fair in Fuyang Normal University in East China's Anhui province, March 16, 2019. The national unemployment rate was 6.7% in November 2020, according to the U.S. Bureau of … It is understandable that money isn’t everything, but the college administrators are the adults in the room and should take great care in educating students on how to manage bouts of unemployment, underemployment and low salaries with their heavy-tuition debt load. The unemployment rates for all other races are even higher and have recovered less since the Great Recession, further widening the racial gaps. EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change, Michigan Economic Development Corporation With Forbes Insights, have a greater chance of being both unemployed and underemployed. Other races are even higher and have recovered less since the Great Recession, further the. Their students and alumni for college graduates fell to 2 %, with almost two-thirds of unemployed Africans. 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