No Improvement in Job Market for Young College Grads, Some Deterioration, New Report Reveals
June 18, 2012
Dr. Paul Harrington, Director of the Center for Labor Markets and Policy. Photo Credit: Tommy Leonardi.
Even as the job market has rebounded over the last two years, the employment prospects for young college graduates have continued to deteriorate, according to a new report by Dr. Paul E. Harrington and Dr. Neeta P. Fogg, labor economists in Drexel University’s Center for Labor Market and Policy. Rather, even during this period of net job creation, young college graduates saw their employment rates fall at the same time as their mal-employment rates increased.
The report reveals that there was a sizable decline between the winter-spring of 2007 and 2012 in the proportion of all young college graduates who worked in a college labor market job; a decline from 54.1 percent to 43.9 percent among 20- to 24-year-olds and 63.9 percent to 56.7 percent among 25- to 29-year-olds. A sizeable part of these declines occurred in the jobs recovery period over the last two years.
“The promise of an economic return to a college investment is, at its most fundamental level, found in the labor market,” said Dr. Paul Harrington. “The ability of young Americans to prosper through investments in human capital has diminished as access to jobs that utilize the skills, knowledge and abilities developed in college has declined.”
Read the full research brief here (PDF).
About The Center for Labor Markets and Policy
The Center for Labor Markets and Policy (CLMP) conducts applied research and provides education and technical assistance on human resource development issues and their connections to the labor market. CLMP uses its expertise in human resource development economics and labor market analysis to support policy makers and practitioners in developing improved human resource development planning, programming, evaluation and finance at local, regional and state levels. CLMP staff work with national, state and local governments, workforce development organizations, the business community, organized labor, the non-profit community and others engaged in building the nation’s human resource development system. For more information about the Center for Labor Markets and Policy, visit http://www.drexel.edu/provost/clmp/.