FileUnemployment

Job Prospects for Recent College Graduates Continues to Rise

Updated : October 5th, 2021

The national average unemployment rate has witnessed a free fall over the last couple of months. Jobless rate last reported for February 2015 was just 5.5%, down by 1.2 percent over the year. Stakeholders across various social and economic groups have been closely tracking progress in their respective segments to monitor the impact of massive job creations in the last two calendar quarters.

A recent study by Georgetown University’s Center on Education and the Workforce titled “From Hard Times to Better Times” shows that recent college graduates in almost every major are likely to find employment opportunities than mid career high school graduates. Let us uncover key facts and figures from this study that relates to unemployment. The data considered here is from the period 2009 to 2012.

The Fact of The Matter

The jobless rates among recent college graduates varies, depending on the the bachelors degree and specialization. This study unravels the fact that graduate degree holders were sheltered from the effects of the recession. The following streams recorded highs and lows among college grads.

Recent College Graduates

The unemployment rates among recent grads in the following specializations were the highest.

  • Architecture (10.3%)
  • Social Sciences (10.1%)
  • Psychology and Social Work (9%)
  • Law and Public Policy (8.6%)
  • Humanities and Liberal Arts (8.4%)

Lowest in the fields below.

  • Agriculture and natural resources majors (4.5%)
  • Physical science majors (5%)
  • Industrial arts, Consumer services and Recreation  (5.4%)

Overall, the unemployment rates declined for most majors among recent graduates. Key facts as below.

  • Unemployment rates among workers aged 35 to 54 with certain years of experience coupled with college degrees was only 3.3% at its peak.
  • For recent graduate degree holders aged between 24 to 34, the unemployment rates have flickered around 4%.
  • For bachelor degree holders with experience between the age of 35 to 54, unemployment rates peaked at 5.1 percent in 2009-2010 and has gradually fallen to  4.5 % in 2011-12.

Jobless Rates Among Different Groups of Workers

  • Among all the groups, recent high school graduates have had the worst unemployment rates peaking at 17.8% in 2011-12 down from 18.6% in 2009-10.
  • The unemployment rate among  all high school diploma holders was down at 11.8% in 2011-12 from 12.4% in 2009-10.
  • The lowest group was Bachelor’s degree holders whose rates were the lowest at 5.1% in 2011-12, down by 0.4%.

College graduates had an advantage over wage compared to high school graduates in the post-recession economy. However, the impact of this reduction seem to have had little effect on the debt that college graduates hold in the economy. They carried a combined debt of $1.16 trillion in the fourth quarter of 2014, up by $77 billion, year on year. To sum it up, this year looks promising for the overall employment situation in country.

If you were recently laid off from your job, your state provides you monetary support by dispensing up to 26 weeks of unemployment compensation until you find a job. We urge you to take advantage of the unemployment insurance program which provides basic monetary backing. Its paramount to understand if you qualify before applying.

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  1. How do you get a hold of a live person to talk about your rejected back to work bonus. They keep asking for pay stubs. I submit and get the same rejection letter again. What am I missing. Need to talk to a real person.

    1. Desree,

      The phone lines might remain busy during peak hours. Please consider the option of visiting an office in the vicinity if safe and feasible (you might be required to book an appointment prior to the website).

  2. Form SSA-632BK , quote “File to waive the overpayments if the overpaid unemployment amount was not your fault. You can request an overpayment waiver by filing the Social Security Administration (SSA) form”. Thank you for the information that this form can be used for unemployment benefit overpaid. I try to file a form SSA-561, Request for Reconsideration.

  3. I filed for unemployment benefits in November 2020 and requested payments every time as requested up untilvthe time I went back to work in February 2021 and still Have Not received the first payment from unemployment office when should I expect to receive these payments

    1. Debbie,

      For a faster resolution, please consider the option of visiting an office in the vicinity if safe and feasible (you might be required to book an appointment prior to the website).

  4. Think it that people only qualify for back to work bonus, if they were still getting unemployment in May. I stopped receiving PUA benefits in beginning of year and went back to work in March after having been unemployed since March 2020… I think I should be eligible.

    1. Kris,

      I suggest you talk to the Unemployment Office for clarification. If you think you’ve been denied wrongfully, please consider filing an “Appeal”.

  5. I’m Tonya Denise Sneed and I have still not been compensated for doing my weekly certification… That the week of my pay, I was never paid… And I need that money from May 4, 2020

    1. Tonya,

      Please note this is a private forum and we do not have access to your claim file. Kindly chase the Unemployment Office over the phone or via the website.

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