A new report shows unemployment rates are lower for recent college graduates than those with less education, according to a recent article by The Chronicle. The study also found, generally, the careers with the highest employment rates are going to graduates with an industry-oriented degree and those pursuing technical fields.
For example, grads with degrees in the arts have an unemployment rate of 11.1 percent and humanities and liberal arts is at 9.4 percent. Grads with a degree in health or education have unemployment rates of 5.4 percent, according to the article. However, due to the economy, some technical degrees that used to have great outlooks, now have high unemployment rates. For instance, architects and civil and mechanical engineers face higher unemployment than in the past, says the lead author of the report.
But, the study also found the unemployment rate for recent graduates is significantly lower than those who only hold a high school diploma or have dropped out. According to the study, the unemployment rates by grade-level completed is:
- 8.9 percent for recent bachelor’s-degree holders.
- 22.9 percent for recent high-school graduates.
- 31.5 percent for recent high-school dropouts.
The working world is going through many changes due to the state of the economy and advancements in technology. In this time of uncertainty, it can feel like a gamble for students and careers as they try to choose between the safest employment paths and careers that they thoroughly enjoy. This study shows there is still worth to pursuing a degree that gives you joy, a degree that prepares you for a career with a high growth rate, or a degree period. What do the results from this study mean to you?
“Unemployment Varies by College Major, Study Finds,” by Beckie Supiano. 4 January 2012. The Chronicle. Accessed on 6 January 2012. http://chronicle.com/article/Unemployment-Varies-by-College/130212/