Chart of the Day: The Job Market For College Grads is Tougher Than Ever


A new report from the New York Fed offers a grim take on the job prospects of recent college grads. It finds that underemployment (i.e., working at a job that doesn’t require a college degree) has averaged around 40 percent for the past two decades, going down a bit during economic expansions and up a bit during recessions.

But if the rate of underemployment itself hasn’t changed very much, the nature of underemployment sure has. It’s gotten worse. Take a look at the thick lines in the chart on the right. They show what happens to recent college grads who can’t get college-level jobs. The number who get good non-college jobs has plummeted from 50 percent to 35 percent. The number in low-wage jobs has risen from 15 percent to 20 percent. And needless to say, these grads also have quite a bit more student loan debt than grads from the early 90s.

Getting a college degree is still worth it. But there’s not much question that today’s college grads have it tougher than previous generations did. And the 40 percent who don’t find good jobs have it the toughest of all.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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