'Unemployment is a major reason why the promise of university often falls apart'
A new report finds that just over half, 52 percent, of recent college graduates are working in jobs that don't require a bachelor's degree.
“Talent Disrupted,” published in February by the Strada Education Foundation, argues that “a college degree does not always guarantee labor market success.”
The researchers defined “unemployment” as when a graduate works “in a job that does not typically require a bachelor’s degree.”
The report calls underemployment “a large and persistent problem,” noting that “even 10 years after graduation, 45 percent of graduates are underemployed.”
Moreover, research shows that “73% of graduates who begin employment remain so 10 years after graduating from college.” Underemployed people earn less than their peers who use their degrees to get jobs, and they earn 25 percent more than those with only a high school diploma, the survey found.
Strada CEO Stephen Moret argued that all of this suggests that students need “access to high-quality, educational coaching that leads to employment and at least one paid internship.” One of the key indicators for long-term success is where graduates start in college. A level job right out of the gate.
Moret also said in the press release that the single strongest predictor of underemployment is college major, with finance, accounting, STEM, nursing and health fields seeing more success than others.
To develop their findings, researchers reviewed online career records and census microdata from millions of graduates.
“The data paints a troubling picture. Either colleges are not teaching students the skills they need to succeed, or the United States is producing too many college graduates for too few college-level jobs. Probably both,” Preston Cooper wrote. forbes.
“… These results raise questions about how many underemployed college graduates actually complete college, at least from a financial perspective. Although bachelor's degrees tend to pay off well on average, the majority of college students do not recoup the costs of their education. This group is having more trouble paying off student loans than anything else. “Underemployment is often a major factor in lowering the likelihood of attending college.”
The new study follows a trend that has emerged over at least the past decade. like college fix Reported in 2015:
Nearly half of recent college graduates say their jobs are below their skill level, and 49% of college graduates in 2013 and 2014 reported being underemployed, most recently employed by Accenture. inspection I found it released this month.
The survey results highlight a 2014 New York Fed report that found unemployment among recent college graduates has been significantly higher since the start of the Great Recession.
Some colleges and universities are working to address this issue with the recent increase in vocational and career technical programs. For example, Idaho Community College recently offered a bachelor's degree focused on “applied” skills.
Read more: College 'isn't worth the cost', according to most Americans
Image: Strada Education Foundation
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