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☆ New college graduates are stepping into a tougher job market. It could set their earnings back for years.
  + stars: | 2024-06-15 | by ( Jacob Zinkula | Andy Kiersz | ) www.businessinsider.com   time to read: +9 min
New college graduates are having a harder time finding work, and as a result, some of them could see their careers and earnings take a hit for years. Meaning that recent college graduates have been more likely to be unemployed than the broader population. This new normal has worked out OK for some Americans, but it's been particularly tough on new college graduates. While the tough job market could temporarily hurt some young graduates' earnings, there's reason to be optimistic that their finances could eventually recover. But if the job market continues to prove frustrating, some of them may begin to wonder.
Persons: Lohanny Santos couldn't, Zer, Santos isn't, overqualified, millennials, Gen Zers aren't, Julia Pollak, ZipRecruiter, it's, — aren't, they'd, —, grads —, Goldman Sachs, Elise Peng, Louis, who's Organizations: Service, Business, New York Fed, NY Fed, Meta, Rice University's, Bloomberg, LinkedIn, National Association of Colleges, Glass Institute, Strada Education Foundation, Federal, Louis Fed
☆ Some college graduates only need to make a $50,000 salary for a decade for their degrees to be worth it
  + stars: | 2024-05-28 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +1 min
College degrees are under fire given the pain of student debt and political and economic troubles. Some public university graduates only need to earn over $50,000 for a decade to make a return. Graduates pay more to live in popular states but they can win due to better job markets there. AdvertisementCrushing debt, political furor, and a brutal economic backdrop of historic inflation and higher borrowing costs have fueled fresh skepticism about the value of a college degree. Yet, stumping up the cash for one may still be worth it financially if it results in significantly higher earnings.
Persons: — Organizations: Service, Street Journal, Strada Education, Business
☆ Most US graduates who start their first job underemployed can't find college-level jobs 10 years later: report
  + stars: | 2024-02-23 | by ( Matthew Loh | ) www.businessinsider.com   time to read: +4 min
Around 73% of those who don't get college-level jobs in their first year after graduation end up stuck in underemployment 10 years later, the report said. "Graduates who start out in a college-level job rarely slide into underemployment." Graduates who start their careers underemployed are about 3.5 times as likely to be underemployed a decade later, the researchers said. Most American graduates start their careers underemployedFor every 100 graduates in the US, 52 are underemployed in their first year of work, the report said. That means graduates with college-level jobs earn 50% more than their underemployed counterparts, per the report.
Persons: —, underemployed Organizations: Service, Strada Education, Glass Institute, Business
☆ About half of America's new college graduates are working in high school-level jobs like food service and retail: report
  + stars: | 2024-02-23 | by ( Matthew Loh | ) www.businessinsider.com   time to read: +5 min
People working college-level jobs earn 88% more than those with only a high school education, the report said. AdvertisementMost underemployed graduates are in sales and office administrationFor graduates working high school-level jobs five years after finishing college, the most common occupations are clerk (1.09 million graduates), sales supervisor (1 million), retail sales worker (759,000), salesperson (611,000), and secretary (602,000). Health-related work, including nursing, had the lowest underemployment rate, with only 23% of graduates not working college-level jobs five years after finishing their bachelor's. About 27% of underemployed graduates eventually advance to college-level jobs in the next 10 years. Getting an internship in your field of study vastly improves your chances of getting a college-level job, the report said.
Persons: —, they're Organizations: Service, —, Glass Institute, Strada Education, Business Locations: underemployment
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