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This is not a short-lived problem for college graduates, as the report indicated that those who start their careers underemployed are 3.5 times more likely to remain underemployed a decade later.
Graduate unemployment, or educated unemployment, is unemployment among people with an academic degree.. Aggravating factors for unemployment are the rapidly increasing quantity of international graduates competing for an inadequate number of suitable jobs, schools not keeping their curriculums relevant to the job market, the growing pressure on schools to increase access to education (which ...
According to the most recent U.S. Census survey, college graduates make on average $20,000 more a year than non-college grads, and the unemployment rate for non-college graduates is 10 lowest ...
Some of the other lowest-paying majors include hospitality, anthropology, early childhood education, history, and fine arts—all of which lead to an underwhelming $40,000 salary five years post-grad.
College Degree Returns by Average 2011 Annual Out-of-Pocket Costs, from B. Caplan's The Case Against Education First-year U.S. college degree returns for select majors, by type of student Study comparing college revenue per student by tuition and state funding in 2008 dollars [121] The view that higher education is a bubble is debated.
Underemployment is a problem particularly in developing countries, where the unemployment rate is often quite low, as most workers are doing subsistence work or occasional part-time jobs. In 2011, the global average of full-time workers per adult population was only 26%, compared to 30–52% in developed countries and 5–20% in most of Africa.
Health fields, such as nursing, and engineering, have some of the lowest underemployment, with nearly 75% or more of graduates finding high-paying jobs in their fields.
According to the New York Federal Reserve Bank, about one third of all college graduates are underemployed, meaning they're employed below the value of their degrees. [47] That distribution has remained largely unchanged for thirty years, although the chance of being underemployed in a good job has gone down 28.0% for recent hirings, and 20.6% ...