Career Learning for Adult Self-Sufficiency (CLASS)

Heldrich Center Newsletter: College Graduates in a Troubled Economy

Posted by Maisha Meminger - On May 23, 2011 (EST)

A new nationally representative survey of 571 graduates from four-year colleges and universities from the classes of 2006 through 2010 documents the difficulties young people encountered as they entered a volatile labor market that eventually plunged into a deep recession. While graduates are satisfied with their decision to complete a four-year degree, a large percentage reports they are struggling to find full-time, permanent jobs with benefits that will lead to fulfilling careers.

The survey found that 53% of the graduates in the survey are working full time, and 21% are attending graduate or professional school. Fourteen percent are either unemployed (7%) or employed part time and looking for full-time work (7%). The median salary of all employed recent graduates in their first full-time job after finishing school is $30,000. College graduates who obtained their first job during the recession in 2009-10 suffered a 10% “penalty” in reduced starting salaries compared to those who entered the workforce in 2006 and 2007. The survey also shows that half of all recent graduates are working in jobs that did not require a B.A. or B.S. degree. Yet, 62% believe they will need even more formal education if they are to be successful in their chosen career

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Modified On : May 23, 2011
Type : Web Link
Downloads : 370
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In Relation : Graduation for All

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