Getting a College Degree and Finding Work

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Based on statistics that were published on Digest of Education from 2009 to 2012 the rate of unemployment for college graduates is at 7.5%. This is higher than the unemployment rate for comparative periods. Back in 2009 the rate was just 4.50% and way back in 1990 it was just 3.14%. This infographic was brought to you by Open Colleges.

Of the workers with college degrees, Educational Services is the number one employer. It employs over 20% of all graduates with Bachelors’ Degree and 31% of all those with Advance Degrees. Here is a list of the percentage of college graduates employed in certain industries according to United States Bureau of Labor Statistics:

  • Health Care & Social Assistance- Employed Graduates with Bachelors’ Degrees- 17%
  • Professional & Business Services – Employed Graduates with Bachelors’ Degrees-  14%
  • Leisure & Hospitality  – Employed Graduates with Bachelor’s Degrees- 12%
  • Wholesale and Retail Trade – Employed Graduates with Bachelor’s Degrees-  10%
  • All Other Industries – Employed Graduates with Bachelor’s Degrees-  9%
  • Goods-Producing – Employed Graduates with Bachelor’s Degrees-  8%
  • Financial Activities  – Employed Graduates with Bachelor’s Degrees-  7%
  • Public Administration  – Employed Graduates with Bachelor’s Degrees-  3%

Employment for Advance Degree Holders
Educational Services is still the biggest employers for those with advance degrees. The industry employs 31% of everyone with advance degrees.

  • Health Care & Social Assistance- Employed Graduates with Advance Degrees-24%
  • Professional & Business Services – Employed Graduates with Advance Degrees-   23%
  • Wholesale and Retail Trade – Employed Graduates with Advance Degrees –   11%
  • Public Administration  – Employed Graduates with Advance Degrees –   4%
  • Financial Activities  – Employed Graduates with Advance Degrees-  3%
  • Goods-Producing – Employed Graduates with Advance Degrees –   2%
  • All Other Industries – Employed Graduates with Advance Degrees –   1%
  • Leisure & Hospitality  – Employed Graduates with Advance Degrees –  1%

But the prospect for college graduates is not particularly reassuring right now because of a very high unemployment rate among them. Based on statistics that were shown on the Digest of Education, the college graduate unemployment rate is now at 7.5%. This is a lot higher on previous comparative periods.  That is more than double than the college unemployment rate for 1990 and 3% higher than that for 2008.

There is also a drop in the percentage of BA holders who become employed one year after they graduate. Even those college graduates who have work are not in the best position because for the most part, they are underemployed. That means they are taking up jobs that are not giving them the same compensation that they would get if they used their education.