Underemployment of Recent College Grads

An article from The Wall Street Journal this week reports that job prospects have worsened for recent college graduates over the past 15 years. 

Economists at the New York Federal Reserve found that the share of college grads ages 22 to 27 who worked in jobs without bachelor's degree requirements totaled 44 percent in 2012. That's lower than the 46 percent seen during the 1990-1991 recession, but well above the 34 percent "underemployment rate" for these young workers in 2001.

The Wall Street Journal reports that historical data suggest that many underemployed college graduates will find jobs better suited to their education by age 30. The Fed's economists also found that college grads who majored in engineering, math, and other technical fields fared better than those who majored in communications, social sciences, or business.

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