As the economy recovers, things may improving for recent college graduates says MarketWatch reporter Jillian Berman. The underemployment rate of 22 to 27-year-old job seekers looking for a full-time position while working in jobs that don't require a degree in December was the lowest it's been since January 2012 according to an analysis from Georgetown’s Center for Education and the Workforce.
The center’s director Anthony Carnevale told MarketWatch that this may be a result of changing demographics impacting the workforce as baby boomers increasingly retire. The unemployment rate is currently at 4.9%, the lowest it's been since March 2009.
Despite the fact that things may be better they used to be for recent college graduates, it’s likely the group won’t fare as well overall as their parents and grandparents who graduated in better economies. Research shows that leaving school during a recession can impact your career and earnings prospects for years. And of course, a good chunk of today’s recent college graduates had to take on debt to get their degrees. So even if their jobs and earnings prospects are looking up, their debt load means they still may struggle to save for retirement, to buy a home or simply in case of emergencies.