New Report: “From Hard Times to Better Times: College Majors, Unemployment, and Earnings”

black-mortarboard-hiThe Washington Post reports that a Georgetown University report demonstrates a correlation between college majors and employment rates.  The report, From Hard Times to Better Times, which is based on research of unemployment rates of recent college graduates in 2011-2012, also demonstrates that college graduates fare better with obtaining employment than those with high school diplomas and no college.

….although the unemployment rate for recent college graduates stood at 7.5 percent in 2012, not all majors gave students an equal chance of finding work. Just 5.1 percent of elementary education majors, 4.8 percent of nursing majors and 4.5 percent of chemistry majors were unemployed after graduating, to take a few specific fields.

The good news for young college graduates is that regardless of their major, they have a much better chance of finding work than their peers who didn’t go to college. Nearly 18 percent of young workers with only a high school diploma were unemployed.

There is an upward employment trend that is reversing the rate of employment for college graduates vs. experienced workers, according to the report.

Recent college graduates are even doing better than experienced workers who only have a diploma, 9.9 percent of whom were out of work.

That’s a change from three decades ago, [Anthony] Carnevale [one of the authors of the report] said, when an experienced worker with a diploma was better off than a young worker with a college degree. That change reflects the increasing importance of technology in the economy and the shift from manufacturing to service.

Read the article here.

Read the Georgetown University report here.

 

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