According to numerous accounts, the Great Recession has left many recent college graduates struggling to find jobs that utilize their education. However, a look at the data on the employment outcomes for recent graduates over the past two decades suggests that such difficulties are not a new phenomenon: individuals just beginning their careers often need time to transition into the labor market. Still, the percentage who are unemployed or “underemployed”—working in a job that typically does not require a bachelor’s degree—has risen, particularly since the 2001 recession. Moreover, the quality of the jobs held by the underemployed has declined, with today’s recent graduates increasingly accepting low-wage jobs or working part-time.
…By historical standards, unemployment rates for recent college graduates have indeed been quite high since the onset of the Great Recession. Comparison of the experience of new graduates today with that of new graduates in earlier periods shows that fairly high unemployment and underemployment are not uncommon for young people just after they obtain their degrees; this pattern arises because college graduates generally require some time to transition into the labor market. However, when we delve further to examine the quality of jobs held by the underemployed, we find that recent graduates are increasingly working in low-wage jobs or working part-time. We conclude that while elevated rates of unemployment and underemployment may be typical for recent college graduates, finding a good job has indeed become more difficult.
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via Are Recent College Graduates Finding Good Jobs?
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