As the job market struggles and the cost of education rises, many post-secondary institutions have reported stagnant or declining enrollment numbers in recent years. Luckily, there's good news.
A study from Georgetown University's Center on Education and the Workforce has found that the percentage of college grads who are underemployed has dropped to just 6.2 percent. This is a 4-percent decrease from the recent high of 10.2 percent, and puts college graduates' risk of being underemployed at less than half of their peers with only a high school diploma.
The study defines underemployment as anyone without a job who is seeking one, or anyone who currently has a part-time job but seeks a full-time position.
"Both unemployment and underemployment are lower for those with more education," the report states. "However, the underemployment rate has declined starkly for college graduates. The underemployment rate for graduate degree-holders (4.2%) is 2.2 percentage points higher – on average – than the unemployment rate for graduate degree-holders (2%). For high school graduates or dropouts with jobs, underemployment is 6 percentage points higher than the unemployment rate for the similarly educated."
Needless to say, this is encouraging news for schools. It's always been a bit of folk wisdom that a college degree is important to securing a good career, but with uncertainty around the cost of higher education and the burden of student debt, having these statistics re-enforced can make it far easier to market yourself to potential incoming students.