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Are Recent College Graduates Finding Good Jobs?
By Jaison R. Abel, Richard Deitz, and Yaqin Su - Federal Reserve Bank of New York
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.
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