Blog

Browse All Blog Topics

Report: Millions of Millennials Are Underemployed or Unemployed

May 20, 2014

by Suada Kolovic

It wasn't too long ago that the majority of Americans agreed that one had to pursue a college degree in order to succeed in the workforce. Unfortunately for millennials, the rate of success after obtaining said degree is no longer so intrinsically tied: According to multiple reports, millions of college graduates suffer a mismatch between education and employment and hold jobs that don’t require costly degrees.

Among recent college graduates ages 20 to 29, the Bureau of Labor Statistics reports unemployment stands at 10.9 percent, more than three points higher than in 2007. While a study from the Federal Reserve Bank of New York found that of those recent college graduates who have managed to find work, more than 40 percent hold jobs that do not require a college degree; more than 20 percent are working only part-time; and more than 20 percent are in low wage jobs. Canadian economists Paul Beaudry and David Green of the University of British Columbia and Benjamin Sand of York University have documented a declining demand for high-skilled workers since 2000. They say, "high-skilled workers have moved down the occupational ladder and have begun to perform jobs traditionally performed by lower-skilled workers ...pushing low-skilled workers even further down the occupational ladder and, to some degree, out of the labor force altogether." If correct, their work might just turn conventional wisdom on its head. (For more on this story, click here.)

Do you think that a college degree is necessary for gainful employment and upward mobility? If so, check out our college search tool to find detailed information on more than 7,000 colleges including admission statistics, tuition and fees, financial aid and scholarships, academic majors and more. Not sure where you want to go to college? Check out our College Matchmaker.

/HTMLCHUNK_9/

And remember, there’s no need to rely on expensive student loan options to pay for your college education. For more information on finding free scholarship money for college, conduct a Scholarships.com free college scholarship search today, then apply and win! It’s that easy!

Discuss

Share your thoughts and perhaps thousands of students will benefit from your unique insight on the subject!



If you can read this, don't touch the following fields


 

Most Shared Articles

Prospective Rhode Island college students may score two years of free college with Governor Gina M. Raimondo's $30 million plan, Rhode Island's Promise. Beginning with the class of 2017, the plan would foot full tuition bills and mandatory fees, according to Inside Higher Ed.

In an effort to "knock down the financial barriers to obtaining a college degree," Gov. Raimondo's proposed [...]

0 months ago 0 comments Read More

College is supposed to be the best four years of your life. Or as one sociology professor claims: "a big four-year orgy." Was college always this fun? History may indicate otherwise, and Lisa Wade highlights a "demographic shift" 300 years ago that changed the college campus landscape and made colleges bastions of sex, booze, and entitlement.

U.S. colleges during the colonial era [...]

0 months ago 2 comments Read More

While you can always increase your chances at landing a scholarship - increasing your community service and extracurricular involvement, having good grades and writing strong essays - winning one isn't always guaranteed...or can it be? According to TIME Money, one way to secure a scholarship is to apply to, and attend a college that guarantees its incoming class free college money. Here [...]

0 months ago 5 comments Read More

A burglar who targeted college apartments in Cobb County is now in jail after Kayla Mesar, a freshman university wrestler threatened and scared him off campus property.

The identified suspect, Amir Williams had allegedly broken into several other college apartments near Life University before entering Mesar's unit through a back unit where her mother had stood. Mesar, who was around [...]

0 months ago 2 comments Read More

In hopes of boosting the local economy, Tennessee state education officials spent roughly $1 million this past year in advertising enticing college dropouts to finish what they started.

The state's partnership with Tennessee Reconnect is just one of several comeback programs established to combat the "nearly 37 million working adolescents nationwide [that] have some college credits [...]

1 months ago 1 comments Read More

College can be expensive, and while some may rely on scholarships, grants, loans or their parents to foot the bill, one Jacksonville woman got creative and sold her urine and positive pregnancy tests on Craigslist for a little extra cash.

Why would anyone ever purchase positive pregnancy tests or urine? The three-months pregnant woman, who chose to remain anonymous, didn't really [...]

1 months ago 4 comments Read More

Teenagers aren't using drugs, alcohol, and tobacco as much as they used to, according to a new national study. Substance use rates have declined significantly and are at their lowest since the 1990s. Despite this trend, researchers caution that there is still high use of marijuana for a certain age group.

The Monitoring the Future study, conducted by U-M's Institute for Social [...]

1 months ago 7 comments Read More

Rather than basically give you 23 birds for the first 7 of the 12 days of Christmas, we've compiled a holiday list of scholarships yule adore...with a head start too! Check out these scholarships that'll last a few days after you enjoy the holidays:

NATA Business Scholarship

[...]

1 months ago 3 comments Read More

The mantle of "College President" is one that includes a lot of responsibility and scrutiny, but for some in the higher ranks, the lucrative pay makes it worth it. According to data released by The Chronicle of Higher Education, some private-college presidents have made over $5.4 million in a single year.

The average annual salary for full-time college/university presidents in 2014 [...]

1 months ago 2 comments Read More