Chart: The Job Outlook for Young Graduates
Here we take a look at data derived from the findings a major breakdown of recent economic data by the Economic Policy Institute (EPI) in a report titled “The Class of 2015.” While the report breaks down the recent economic results and outlook of today’s young adults in various ways today we’ll look at one key piece of information on every graduate’s mind: the broad employment picture in America for young adults.
As it currently stands, unemployment plagues about 7.2% of today’s college graduates aged 21-24, with an additional 14.9% of the same reporting underemployment. Note that this particular report defines underemployment as wanting to work full-time hours but only finding part time work. If we look to a broader definition of underemployment, that being having a college degree but working in a job that only requires a high school diploma, we discover that a full 46% of young college graduates are thus underemployed in lower level jobs.
If we generously allow for argument’s sake all of the graduates behind the data fit both underemployment definitions (employed part time AND in a lower level job), these reports would still indicate that just more than half of all college graduates aged 21-24 are either unemployed or underemployed. Continue reading