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    Hard Times 2013: College Majors, Unemployment, and Earnings

    Cover for Hard Times 2013: College Majors, Unemployment, and Earnings
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    View/Open: HardTimes.2013.2.pdf (5.2MB) Bookview

    Creator
    Carnevale, Anthony P.
    Cheah, Ban
    Abstract
    In the past, a college degree all but assured job seekers employment and high earnings, but today, what you make depends on what you take. In Hard Times 2013, we show differences in unemployment and earnings based on major for BA and graduate degree holders. We show that STEM -- Science, Technology, Engineering, and Mathematics -- majors typically offer the best opportunities for employment and earnings, while unemployment is higher for graduates with non-technical degrees. Here are some of our major findings: 1. Even as the housing bubble seems to be dissipating, unemployment rates for recent architecture graduates have remained high (12.8%). Graduate degrees and work experience did not shield these graduates from a sector-specific shock; graduates with experience in the field have the same jobless rates as the economy overall (9.3%). 2. Unemployment is generally higher for non-technical majors, such as the arts (9.8%) or law and public policy (9.2%). 3. People who make technology are still better off than people who use technology. Unemployment rates for recent graduates in information systems, concentrated in clerical functions, is high (14.7%) compared with mathematics (5.9%) and computer science (8.7%). 4. Unemployment rates are relatively low for recent graduates in education (5.0%), engineering (7.0%), health and the sciences (4.8%) because they are tied to stable or growing industry sectors and occupations. 5. Graduates in psychology and social work also have relatively low rates (8.8%) because almost half of them work in healthcare or education sectors.
    Permanent Link
    http://hdl.handle.net/10822/559304
    Date Published
    2013-07
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    • Cover for Hard Times: College Majors, Unemployment and Earnings: Not All College Degrees Are Created Equal

      Hard Times: College Majors, Unemployment and Earnings: Not All College Degrees Are Created Equal 

      Carnevale, Anthony P.; Cheah, Ban; Strohl, Jeff (2012-01)
      Much attention has been devoted to the 9 percent unemployment among recent college graduates, leading some to conclude that college is no longer worth it. In Hard Times, we argue that college remains the best alternative ...
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    Georgetown University Seal
    ©2009 - 2023 Georgetown University Library
    37th & O Streets NW
    Washington DC 20057-1174
    202.687.7385
    digitalscholarship@georgetown.edu
    Accessibility