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Underemployment On The Rise For Graduates

1726 words - 7 pages

Does going to college and obtaining a degree guarantee one an acceptable job after college? Many college students never once research their major and look at the job openings available after graduation. Students think that going to college is going to guarantee them a high paying job that they imagined, but jobs are in high demand and underemployment is on the rise. Many recent college graduates are finding themselves in a panic to find a job that is adequate enough for their needs. Increasing numbers of recent college graduates are ending up in relatively low-skilled jobs that, in the past, have gone to those with lower levels of educational attainment. Underemployment among college ...view middle of the document...

People keep on going to graduate school and going deeper in debt for the promise of jobs that don’t actually exist, and that’s how we end up with this flooded job market and the horrible degree inflation that goes along with it. The economy has yet to deal with more than half of last year's unemployed, and this year's increase of job seekers could push the nation's 8.2% jobless rate even higher, along with underemployment, which tops 16% (Savitz) . For the lucky who have secured work, statistics show that their earnings will generally start lower and stay low in comparison to those who entered the job market in stronger economies (Are Recent).
Major… It may surprise some to learn that business majors are the most likely to be underemployed. Instead of typical finance work in stocks, many business majors find themselves working in retail or as waiters and waitresses (Fieldman). Fieldman also states in his article, “The main thing with the business major is it’s one of the most popular majors nationwide so they’re just pushing more and more people out into the labor market and this uncertain labor market can’t handle this sudden influx of graduates.” Other studies have found that those with liberal arts degrees are the most likely to be unemployed, and many liberal-arts majors made the underemployed list, including history and English (Adams). A lot of those majors, they’re not trained to do a specific job. You have a broad training, not this specific training, so it’s harder to find a job that suits you. One way college students could improve their job prospects post-graduation is to direct their studies with coursework that builds skills in technology, statistics or accounting (Weissmann.) Many students are graduating with skills that are not demanded by the employers. Underemployment not only has a negative effect on graduates looking for jobs, it has a side effect that is felt throughout the whole economy. Workers that do not hold college degrees are being pushed out of jobs that degree holders are taking. Essentially the country is in a bad way with unemployment and perhaps guiding its future employees down more practical paths. As far as the three studies mentioned earlier, it seems like everyone, but those in the medical field, is having a difficult time. No one is where they want to be. For an example, Kathryn Higgins wants to work in a museum. But, even though she holds a bachelor's degree in literary and a master’s degree in public humanities, she knows that finding a job that fits her education and skills would be like “winning the lottery.” Higgins is twenty nine and lives in Seattle. She works several part-time jobs, including as a nanny and in a daycare watching kids, that don't require a college degree, a “hustle" that she says allows her to just make ends meet (Adams).
Recession.. How many B.A.'s are really out there in dead-end jobs? A new report from the Federal Reserve offers us an answer, which I think can be summed up as:...

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