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The Hard Times Report – College Majors, Unemployment and Earnings

Georgetown University’s Public Policy Institute published the Hard Times Report this month. The report notes that earning a college degree is still important; however, it is also important which degree. Here’s an excerpt:

While graduates, parents, and journalists raise thoughtful questions about the worth of a college degree, this update confirms what we’ve said all along: it still pays to earn one. As we recovered from the recession during 2010 and 2011, college graduates fared better than less educated workers. Overall unemployment rates during this period were 9–10 percent for non-college graduates compared to 4.6–4.7 percent for college graduates 25 years of age or older. However, recent college graduates with a Bachelor’s degree or better are still bearing the greatest unemployment risk, with unemployment rates ranging from a low of 4.8 percent to a high of 14.7 percent depending on their major. Despite the slow recovery, the overall unemployment rate for recent college graduates is 7.9 percent and the overall unemployment rate for graduate degree holders is 3.3 percent.

The report found that recent Anthropology and Archaeology graduates have a 12.6% unemployment rate, the third highest among the disciplines surveyed. The unemployment rate drops considerably with experience and a graduate degree. In fact, a graduate degree holder has a 4.6% unemployment rate, which is lower than MBA graduate degree holders (4.7%), Marketing and Marketing Research graduate degree holders (5.9%) and the field of Communications graduate degrees (ranging from 5.4% to 7.9%).Hard Times Report

To read the entire report, click here.


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