College grads are still better off than high school grads.
The unemployment rate for those with bachelor’s degrees is about half that of high school graduates. According to a report from the Bureau of Labor Statistics, nearly 73 percent of recent college graduates are working. Keep in mind that those figures are from 2011, so they may have gotten better in the last couple of years.
Underemployment has grown but less than you think.
Unfortunately, there are college graduates working in job that paid minimum wage or less, according to an article in the Wall Street Journal. However, according to a January report by the Pew Charitable Trusts Economic Mobility Project, before the recession, about 62 percent of college graduates under 25 were in an occupation that matched their education. After the recession that percentage dipped only to 60 percent.
Of course, if you’re a new college grad and you’re not working where you want to be, the picture may appear bleak. Conversely, if you’re a new grad and snagged a great job, you’re going to look at the issue a different way.
Either way, we know that young people are better off with a degree than without one.
Next: Busting the biggest myths about college graduates and the recession