Since the great recession, many college graduates have been struggling to find a job that actually requires their degree.
Steve Goldstein of Market Watch reports many recent grads are experiencing a struggle as they move into the workforce. Many grads are either unemployed or working jobs that are underpaid and low-skilled. The average job for recent grads are administrative positions or business support. However, in 2015 about 2.7 million jobs were created in the U.S.
The New York Fed, in a blog post authored by researchers Jaison Abel and Richard Deitz, examined the plight of those who graduated between 2009 and 2013. The study found that some 45% of college grads worked in a “non-college job,” which is defined as a position in which fewer than 50% of the workers in that job need a bachelor’s degree.
“So it appears that a college degree confers significant economic benefits on many graduates, even on those who find themselves underemployed at the start of their careers,” the report says.