Staffing Trend: Nearly Half of Recent College Grads Underemployed

Staffing Trend Nearly Half of Recent College Grads Underemployed

Staffing Trend: Nearly Half of Recent College Grads Underemployed

College students are still struggling to find employment, even with a four-year degree under their belt.

The Center for College Affordability & Productivity released a new study of college grads. The study found that nearly half of recent graduates are working in jobs they are overqualified for. About 48 percent of the national employed college graduates are in jobs that the Bureau of Labor Statistics (BLS) suggests requires less than a four-year college degree. Eleven percent of college graduates are employed, but working in jobs requiring more than a high-school diploma but less than a bachelor. An additional 37 percent are in occupations that only require a high-school diploma.

In numbers, the report estimated around 5 million college graduates had jobs that required less than a high school education. The issue is the past and projected growth in college enrollments and number of graduates exceeds the actual or projected growth in high-skilled jobs.

Not all colleges are created equal, however. Graduates from elite private schools earn more than graduates of state universities. State university graduates still fared better than those attending non-selective institutions.

There was even further distinction when you break down the majors. Engineering and economics graduates usually earn almost double what social work and education graduates receive by mid-career.

For the recruitment industry, it presents a large pool of untapped resources. It may also require alternative ways of connecting with them. As the younger, tech savvy generation, social media recruiting, online postings, and less traditional recruitment methods may be more effective ways to get in touch with the new faces emerging in the job market.

World Wide Specialty Programs has always had a singular purpose – to design, develop and provide staffing insurance products for the staffing industry. Our method is simple: track those changes; listen to emerging needs, and respond. We work with over 2,000 insurance brokers nationwide. We know the staffing industry better than anyone, and can provide great options for your staffing industry insurance needs. Contact us today for more information about our staffing insurance programs.