> Skip to content
FEATURED:
  • The Evolution of Race in Admissions
Sign In
  • News
  • Advice
  • The Review
  • Data
  • Current Issue
  • Virtual Events
  • Store
    • Featured Products
    • Reports
    • Data
    • Collections
    • Back Issues
    • Featured Products
    • Reports
    • Data
    • Collections
    • Back Issues
  • Jobs
    • Find a Job
    • Post a Job
    • Find a Job
    • Post a Job
Sign In
  • News
  • Advice
  • The Review
  • Data
  • Current Issue
  • Virtual Events
  • Store
    • Featured Products
    • Reports
    • Data
    • Collections
    • Back Issues
    • Featured Products
    • Reports
    • Data
    • Collections
    • Back Issues
  • Jobs
    • Find a Job
    • Post a Job
    • Find a Job
    • Post a Job
  • News
  • Advice
  • The Review
  • Data
  • Current Issue
  • Virtual Events
  • Store
    • Featured Products
    • Reports
    • Data
    • Collections
    • Back Issues
    • Featured Products
    • Reports
    • Data
    • Collections
    • Back Issues
  • Jobs
    • Find a Job
    • Post a Job
    • Find a Job
    • Post a Job
Sign In
ADVERTISEMENT
Data
  • Twitter
  • LinkedIn
  • Show more sharing options
Share
  • Twitter
  • LinkedIn
  • Facebook
  • Email
  • Copy Link URLCopied!
  • Print

The Labor Market Is Hot, but Not for New College Grads

By  Audrey Williams June
September 19, 2022

For years, most students have placed a premium on the job-related benefits of going to college. The share of students who said getting a better job was a “very important reason” to attend college hit a record high of 87.9 percent in 2012 — and has hovered in the mid-80s since then, according to a national survey of incoming freshmen.

And while a four-year degree still pays off relative to not going to college, data from the Federal Reserve Bank of New York shows that new college graduates are facing tougher employment prospects than are

We’re sorry. Something went wrong.

We are unable to fully display the content of this page.

The most likely cause of this is a content blocker on your computer or network. Please make sure your computer, VPN, or network allows javascript and allows content to be delivered from c950.chronicle.com and chronicle.blueconic.net.

Once javascript and access to those URLs are allowed, please refresh this page. You may then be asked to log in, create an account if you don't already have one, or subscribe.

If you continue to experience issues, contact us at 202-466-1032 or help@chronicle.com

For years, most students have placed a premium on the job-related benefits of going to college. The share of students who said getting a better job was a “very important reason” to attend college hit a record high of 87.9 percent in 2012 — and has hovered in the mid-80s since then, according to a national survey of incoming freshmen.

And while a four-year degree still pays off relative to not going to college, data from the Federal Reserve Bank of New York show that new college graduates are facing tougher employment prospects than are all job seekers in the larger labor market.

In June the unemployment rate was 4.1 percent for people age 22 to 27 with a bachelor’s degree or higher, compared with 3.5 percent for all workers. That gap has persisted every month since January 2021, the data show, with new graduates at a consistent disadvantage.

In the current tight labor market, recent college graduates are competing with a larger pool of workers, some of whom have benefited from employers’ relaxing degree requirements to attract applicants.

ADVERTISEMENT

And despite the economy’s job gains, the Fed’s efforts to fight high inflation mean that a recession might be on the horizon — which would weaken the job market and make their search for employment even harder.

Here’s a look at the labor market for recent college graduates:

ADVERTISEMENT

A version of this article appeared in the September 30, 2022, issue.
We welcome your thoughts and questions about this article. Please email the editors or submit a letter for publication.
Career PreparationLaborData
Audrey Williams June
Audrey Williams June is the news-data manager at The Chronicle. She explores and analyzes data sets, databases, and records to uncover higher-education trends, insights, and stories. Email her at audrey.june@chronicle.com, or follow her on Twitter @audreywjune.
ADVERTISEMENT
ADVERTISEMENT
  • Explore
    • Get Newsletters
    • Letters
    • Free Reports and Guides
    • Blogs
    • Virtual Events
    • Chronicle Store
    • Find a Job
    Explore
    • Get Newsletters
    • Letters
    • Free Reports and Guides
    • Blogs
    • Virtual Events
    • Chronicle Store
    • Find a Job
  • The Chronicle
    • About Us
    • DEI Commitment Statement
    • Write for Us
    • Talk to Us
    • Work at The Chronicle
    • User Agreement
    • Privacy Policy
    • California Privacy Policy
    • Site Map
    • Accessibility Statement
    The Chronicle
    • About Us
    • DEI Commitment Statement
    • Write for Us
    • Talk to Us
    • Work at The Chronicle
    • User Agreement
    • Privacy Policy
    • California Privacy Policy
    • Site Map
    • Accessibility Statement
  • Customer Assistance
    • Contact Us
    • Advertise With Us
    • Post a Job
    • Advertising Terms and Conditions
    • Reprints & Permissions
    • Do Not Sell My Personal Information
    Customer Assistance
    • Contact Us
    • Advertise With Us
    • Post a Job
    • Advertising Terms and Conditions
    • Reprints & Permissions
    • Do Not Sell My Personal Information
  • Subscribe
    • Individual Subscriptions
    • Institutional Subscriptions
    • Subscription & Account FAQ
    • Manage Newsletters
    • Manage Your Account
    Subscribe
    • Individual Subscriptions
    • Institutional Subscriptions
    • Subscription & Account FAQ
    • Manage Newsletters
    • Manage Your Account
1255 23rd Street, N.W. Washington, D.C. 20037
© 2023 The Chronicle of Higher Education
  • twitter
  • instagram
  • youtube
  • facebook
  • linkedin