50% of College Grads Umemployed or Underemployed

Half of recent college graduates are unemployed or underemployed according to this AP article .  The reasons are: type of degree,  degree inflation, and the economy.   

The article reports that while those with science, health fields and teaching degrees do better, people with degrees in arts and humanities have more difficulty finding a job in their field.   The increase in the number of  people with a college degree has also made a college education less valuable when looking for a job.   Finally, the high unemployment in the current economy makes fewer jobs available to college graduates.

That's quite a different experience than my mom and dad's generation, where a college degree created excellent career opportunities with top companies.  Even for my generation, people were still able to get much better jobs after graduating from college. 

Given the high cost of college, it will be important for our daughter to choose an appropriate major that will lead to a good job.   Fortunately, we sill have 10 more years before our daughter has to make that decision.

For more on Crossing Generations, check back every Thursday for a new segment.
This is not financial advice. Please consult a professional advisor.

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