Topic: Only 50% of the college Class of 2020 had full-time jobs 6 months post grad (Read 571 times)

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This has been an issue for quite a long time in my country. The funniest part of it all is that even back then the unemployment rate was less than what we have now, but people back then still complained about it and now it has gotten worse. If people back in those days were to see how much things has gotten worse this time around, in terms of unemployment, they would even be grateful of their own time.

This time around in my country people who are yet to graduate are advised to learn skills that would help them to be self employed after they have graduated from school. Because, the government will not be able to provide jobs for everyone, so it’s best to learn other skills that can help you to create your own business and be self employed, rather than waiting for the government to give you job, which may never work out. People who were hired before you are even yet to retire, and as more people graduate every year the rate of people who are searching for jobs increases.

Problem is that there's a lot of people already and the demand for services aren't meeting the current population so with low demand, we will see less businesses offering the same thing and in turn less workers needed and with more looking for a job which leads to no vacancy. I think that the best thing to do right now as a college graduate is for us to learn niche subjects because most industries popping up have a really niche qualifications, we will only see an increase in jobless graduates in the near future.

A regular employee especially with just a number of a year working in a certain company that really felt the impact of Covid in their industry sadly lost their work, newly graduates that were looking for a job really felt the difficulty of finding a job, and yeah, to be honest, I am also one of those people who really felt the severe effect of Covid not just in health aspect but mostly in financial effect. I'm glad, I'd still made a good earning doing online working, crypto earning, and used this time to enhance my skills especially trading. What I am trying to say is everyone has a different experienced and hurdles that have encountered during the pandemic.

I am actually quite confused about the overall impact of the pandemic on the job market. The stock markets seems to be doing well and most of those who have invested in the stocks have received 50%-60% returns during the last 12 months. IT employees are saying that they received the best salary increments in their entire career during 2021. Previously the blue-collar workers were in bad shape due to the lockdown, but that also seems to have changed. Industries such as tourism and aviation seems to have made a remarkable recovery.

The pandemic definitely contributed to this situation.
Even if most of them wanted a job, they couldn't get one because last year, most businesses are closed.
So not really surprising. And now, we are again faced by new variant that may derail the improvement of our situation.
But for those who are not choosy with the job that they can get, they can always find one if they truly want.
In this stage, we should not be choosy if you want to survive and not rely on someone else's help.

Having graduated from college some years back, its surprises me that this didn't start sooner.  It took myself and many of my friends quite a few months to a year to find a job after graduating form college.  I think many people take their time because they are often still living rent free with their parents and they are looking for the right gig.  More college grads could find work immediately if they were willing to find something part time like working for McDonalds are Burger King.  Also I think we must take in to account the pandemic.  The graph clearly shows that this really took hold when the coronavirus shut down many jobs/companies. 

Having graduated from college some years back, its surprises me that this didn't start sooner.  It took myself and many of my friends quite a few months to a year to find a job after graduating form college.  I think many people take their time because they are often still living rent free with their parents and they are looking for the right gig.  More college grads could find work immediately if they were willing to find something part time like working for McDonalds are Burger King.  Also I think we must take in to account the pandemic.  The graph clearly shows that this really took hold when the coronavirus shut down many jobs/companies.  

This time around in my country people who are yet to graduate are advised to learn skills that would help them to be self employed after they have graduated from school.

The current crisis is youth with entrepreneurial spirit.  If you have that soul, you won't expect any more job vacancies from the company.  In fact, the souls of young people who have been instilled in the spirit of becoming entrepreneurs, the government must support them in their products.  at least this is our effort to share and watch together in society as a form of motivation.

Probably until 2000 there is high demand for the degree graduates but after that everyone started to think that they eill become rich if they got a degree which resulted in atleast 100 times more than actual demand so only few people are actually working in the field where they got degree after than entrepreneurship became famous now everyone wants to become an entrepreneur, don't know where it will lead us to.

Probably until 2000 there is high demand for the degree graduates but after that everyone started to think that they eill become rich if they got a degree which resulted in atleast 100 times more than actual demand so only few people are actually working in the field where they got degree after than entrepreneurship became famous now everyone wants to become an entrepreneur, don't know where it will lead us to.

Probably until 2000 there is high demand for the degree graduates but after that everyone started to think that they eill become rich if they got a degree which resulted in atleast 100 times more than actual demand so only few people are actually working in the field where they got degree after than entrepreneurship became famous now everyone wants to become an entrepreneur, don't know where it will lead us to.

And this is what happens when the education you receive is worth nothing, decades ago when the school system still cared about preparing people for the future a degree was worth something, however students and the education complex came to the conclusion the value was on the degree itself and not on the education that you supposedly received, so people began to chase all kind of useless degrees to the point the market is inundated with them and now many companies are ignoring degrees and instead hire people based on skill alone, which in many cases that is the only thing the companies care about.

Degree is losing its value even before the covid started because companies started to recruit people based on the skills not based on what degree they have so many people complete and get graduated without actual knowledge left stranded in the competitive world.

There are two things wrong with your statement, and it is victim shaming at the very best that has been talked about the right wing for over a decade that has been shot down a million times already but they do not like to do research so it is normal that you do not know the answers of your "questioning". First of all, if there is a college major in the name of gender studies or psychology or whatever else that on your high ground you deem "not worthy of becoming a major", then why is it available?

If it is available to pick and people do pick it, then they become unemployed, is it their fault? Then if it doesn't provide any job at all and we do not "need" these majors then remove them from college? Even in your case where you somehow play the god and decide some majors are worthless based on your vast experience and super smart mind, that is a problem by colleges and not students for starting a major with high unemployment rate that the nation doesn't need more of.

I live in a not-so-well developed country and there's a actually shortage for workers in my country.
The companies are desperate to find qualified people,so they are raising the salaries and offering all kinds of additional benefits.
~
There must be something wrong with the US labor market,just like the southern European labor markets in Spain,Greece and Italy.Those countries were also facing high unemployment rates among the youngsters.

There were about 1.5 job openings per unemployed worker in October.

There are many issue of unemployment of graduates. So, Bitcoin currency is a currency that provide opportunity for graduates student to make money. Just by learning some basic knowledge and investment. After that you can earn a passive income at home. So, it's a best opportunity for students that have no job and no source of income..

Degree is losing its value even before the covid started because companies started to recruit people based on the skills not based on what degree they have so many people complete and get graduated without actual knowledge left stranded in the competitive world.

It would also be interested to know how the people who did not attend college fared. There is a lot of questioning on the real value of college and university education as it is , AFAIK, a free market in the USA and therefore by mere economic theory it will tend to reach a point in which the investment in time, money , effort would tend to an equilibrium with the benefits of such education (nicer jobs, better pay, better lifetime value). Did people looking for job without any degree do any better?

I live in a not-so-well developed country and there's a actually shortage for workers in my country.
The companies are desperate to find qualified people,so they are raising the salaries and offering all kinds of additional benefits.
However,there's a demographic crisis in my country and the young people are a decreasing minority.Many young people prefer to go to the western countries,rather than stay and work in their homeland.
There must be something wrong with the US labor market,just like the southern European labor markets in Spain,Greece and Italy.Those countries were also facing high unemployment rates among the youngsters.
Maybe the companies aren't incentivized to hire young people,or the education system isn't preparing the youngsters well enough.

Problem is that there's a lot of people already and the demand for services aren't meeting the current population so with low demand, we will see less businesses offering the same thing and in turn less workers needed and with more looking for a job which leads to no vacancy. I think that the best thing to do right now as a college graduate is for us to learn niche subjects because most industries popping up have a really niche qualifications, we will only see an increase in jobless graduates in the near future.

I am one of them, I graduated in 2021 and so far have not found a job. I thought that before Covid everything was easier and smoother, but after Covid everything became bleak, especially the economic sector. If I want to open my own business I don't have the capital, while I'm getting older and it will be more difficult to get a job.

Without a doubt the high cost of education is a huge problem, however this also the fault of people, people indebt themselves many times over to get a degree that does not really have a clear career path and then they complain about it, when the truth is that if you cannot pay for college then it is better to stay away from it, and if you are going then you better get a degree which is useful otherwise do not go, it is true that learning institutions are taking advantage of the people but the people make almost no effort to avoid their fate either.

I do think that now a days we don't really have to focus just on that but we also have to focus on the rights and health of the workers, the workers are actually leaving their jobs because they are not paid well and at the same time this overworking is causing them immense stress. People are leaving their jobs !! Especially during the pandemic, makes us think how they were treated for real. I do think that it's really important that the companies do realize that people need respect and plans, better services and payments.
I went in so many interviews and for 40 hours a week they were providing only 330$ which I indeed have to do if the things don't turn out well, that's the payment scale for full time jobs in third world companies. It's really terrible out there.
Degrees are essentially not useless if you worked hard on yours, which takes ages and a lot of money as well, people have to apply for a student loan and then they have to pay back the loans through jobs, they earn nothing in between!! That's all a big dark web.

That graph is quite misleading given the skewed scales in my opinion.

I think that it is definitely a real effect in the sense that they were not able to find jobs immediately following the pandemic, but just a few months after the pandemic the job market has become incredibly hot again.

If you are a talented coder etc. you will have absolutely 0 issue with finding employment in the current climate. In fact recruiters will beg for you.

The even worse situation is that people at the bottom are the ones that end up with getting fired and the ones who stayed are given the work load of the previous people as well. So instead of 10k warehouse workers, you have 7k of them and give those 7k people the workload of 10k and not like they can leave neither because they would fail to find another job. So, we have people who are unemployed AND people who are employed but worked tirelessly as well.

This will never lead to anything decent in the long run, which is why I doubt that it would be doing anyone any good but that is how the economy works, CEO's and shareholders and board of directors will not take a pay cut, they will just lay that off to bottom workers.

I would have just preferred overall employment rate per each country. When Hydrogen posted this, it was in my mind that 'see how people in developed country are thinking'. In fact, it has gone worse than this in developing country. If just six months after graduation is used in my country, I believe over 80% (I guessed this) are not employed while many that have been employed are underemployed. It is even not about what you know here in my country, it is about connection.

Most important than looking for job is being able to create your company or become a self employed professional. My goal is to become full time self employed one day.

There is no doubt that unemployment is on the rise whether in Spain or US, the challenge is how to take care of it and the youth are the worst hit on this. It has affected many youth and yet it rate keeps rising because there are no better effort to provide proper and sufficient employment. In US, the rate is increasing from the past administration to the current.

Unfortunately it is a highly repetitive story, you'd see a similar pattern if you overlayed the years up to and including the 2008 financial crisis. The people at the bottom end of the job scale (people just coming into the workforce) will often face the hardest struggles during the dip of a recession with employers much less likely to take on new staff when the current workers are in unprecedented lockdowns. That combined with the Covid effect on hospitality in general, which is a very common starting pool for part time jobs and utilizes workers from the youngster age groups a lot. We'll see a slow recovery as people start travelling and socializing more, but it'll be a bumpy road.

There are many issue of unemployment of graduates. So, Bitcoin currency is a currency that provide opportunity for graduates student to make money. Just by learning some basic knowledge and investment. After that you can earn a passive income at home. So, it's a best opportunity for students that have no job and no source of income..

As someone who went to University I don’t find this surprisingly at all. I think about 50% or so of all my friends and classmates are not even in the same profession.

Most degrees are useless and you won’t have a career out of it. You won’t get a job when you graduate from Arts or Sciences, maybe unless you want to teach.

All the other degrees like law, engineering, etc are very competitive to get actually hired. There are more spots for students than there are jobs.

There are many issue of unemployment of graduates. So, Bitcoin currency is a currency that provide opportunity for graduates student to make money. Just by learning some basic knowledge and investment. After that you can earn a passive income at home. So, it's a best opportunity for students that have no job and no source of income..

Around 2012, I remember reading about the economies of portugal and spain suffering from 50% youth unemployment statistics. (Youth unemployment is ages 19-24) My reaction to this news was...  "the united states could someday suffer from the same troubles, and we would be very much unprepared for it". When I see economic doom and gloom in foreign lands and 3rd world countries, I always think similar trends will reach the shores of america eventually. Years later, america has finally arrived to having the same 50% youth unemployment statistics spain and portugal suffered 10 years ago.

The worst part of a 50% youth unemployment rate isn't usually on the surface. Its what is not seen, reflected in an uptick of suicide rates for young adults. Rising rates of homelessness for youth. Coupled with greater incidence of substance abuse, crime and violence. It was said to have taken more than a decade for sailors to accept the explanation of scurvy being caused by lack of citrus fruits and vitamin C. It may naturally follow that it will take decades for people to adequately become informed on and respond to topics like high youth unemployment.

The learning curve of people becoming informed and competent on topics, could be greatly reduced. People might be learning and responding at greatly accelerated rates in contrast to past precedents. While current events are not great, do we all feel tempted to acknowledge that people are smarter and better informed than we gave them credit for being? Perhaps we can feel better about circumstances even if they are not ideal. And have hope for the future, in that people today might be smarter and more knowledgeable than those in past eras. It may no longer take 10 years for people to accept scurvy being caused by fruit and vitamin C deficiency. Perhaps we can respond to and fix these types of issues much more quickly now

Currently 1 job vacancy is up for grabs by 10 thousand job seekers, the competition is getting tougher every day.  For this reason, graduates must be able to think even harder, if they don't get a job, they must be able to start their own business even though it requires a strong mentality and capital..

Why blame the job market? Nowadays a lot of students opt for useless subjects such as gender studies, behavioral medicine, psychosociology and Islamic history, which doesn't have much relevance in the job market. And it is not surprising that once they graduate, these students struggle to find suitable jobs. In fields such as engineering and medicine, there is still a shortage of qualified freshers. In many of the developed nations, the governments are forced to allow immigration from other countries, to fill this gap.

I think 6 months is a really short-period... But 50% unemployment after graduation is a terrible statistics. I am sure that this number is way higher in developing countries.

The main point is: does the world really need all those   bachelor graduated?

There aren't jobs for all those people. Even in developed countries.

It would also be interested to know how the people who did not attend college fared. There is a lot of questioning on the real value of college and university education as it is , AFAIK, a free market in the USA and therefore by mere economic theory it will tend to reach a point in which the investment in time, money , effort would tend to an equilibrium with the benefits of such education (nicer jobs, better pay, better lifetime value). Did people looking for job without any degree do any better?

Self employment and business entrepeneurship is the only way to go for me

I think 6 months is a really short-period... But 50% unemployment after graduation is a terrible statistics. I am sure that this number is way higher in developing countries.

The main point is: does the world really need all those   bachelor graduated?
There aren't jobs for all those people. Even in developed countries.

Currently 1 job vacancy is up for grabs by 10 thousand job seekers, the competition is getting tougher every day.

Self employment and business entrepeneurship is the only way to go for me, even though I studied physics (for myself rather than to finally obtain the professors seat at some university later down the line, when Im 60 years old). Don't get me wrong, I am a scientist in my heart but almost nobody in their right mind would allow themselves to be financially abused the way post grads do. If they are lucky, they get a half time position which pays about 1000 Euro monthly. Its pathetic. And the same goes for almost all high-end academics. At some point nobody needs someone that specialised.

Currently 1 job vacancy is up for grabs by 10 thousand job seekers, the competition is getting tougher every day.  For this reason, graduates must be able to think even harder, if they don't get a job, they must be able to start their own business even though it requires a strong mentality and capital..

Currently 1 job vacancy is up for grabs by 10 thousand job seekers, the competition is getting tougher every day.  For this reason, graduates must be able to think even harder, if they don't get a job, they must be able to start their own business even though it requires a strong mentality and capital..

As someone who went to University I don’t find this surprisingly at all. I think about 50% or so of all my friends and classmates are not even in the same profession.

Most degrees are useless and you won’t have a career out of it. You won’t get a job when you graduate from Arts or Sciences, maybe unless you want to teach.

All the other degrees like law, engineering, etc are very competitive to get actually hired. There are more spots for students then there are jobs.

Imagine, a hegemonic country such as the US is suffering from 50% youth unemployment rate- what more developing and underdeveloped countries?

The rise of COVID definitely affected the employment opportunities of the youth considering that 2020 was the year that the pandemic started. A few months after its outburst, businesses and universities were not able to adapt and provide alternative methods quickly (compared now where everything is virtual). Not to mention, even if they adapted methods, its effectivity is not that ideal due to the difference between learning virtually vs physically.

There is no doubt that unemployment is on the rise whether in Spain or US, the challenge is how to take care of it and the youth are the worst hit on this. It has affected many youth and yet it rate keeps rising because there are no better effort to provide proper and sufficient employment. In US, the rate is increasing from the past administration to the current.

I think 6 months is a really short-period... But 50% unemployment after graduation is a terrible statistics. I am sure that this number is way higher in developing countries.

Most important than looking for job is being able to create your company or become a self employed professional. My goal is to become full time self employed one day.

The college class of 2020 entered one of the most hostile labor markets in recent history. During the first year of the Covid pandemic, employment decreased across the country. By many measures, college graduates fared best during this period, but as time passes, research is capturing just how difficult conditions are for young workers.

The National Association of Colleges and Employers (NACE) recently analyzed the outcomes for 563,000 bachelor’s graduates across 337 colleges and universities and found that only 50.2% of the class of 2020 had full-time jobs with a traditional employer (meaning they are not working as a freelancer or entrepreneur) within six months of graduation. In comparison, 55.3% of the class of 2019 graduates were employed within the same time frame.

Students who attended colleges with fewer than 2,000 students tended to do better after graduation. Closer to 62% of these students had full-time positions after six months.

“The Covid-19 pandemic had a significant effect on the job market for the Class of 2020, and our report illustrates that,” says Shawn VanDerziel, executive director of NACE. “In terms of employment within six months of graduation, 2020 graduates had the worst outcomes since we began tracking with the class of 2014.”



According to an analysis of Bureau of Labor Statistics data from January 2020 to October 2020 by Pew Research Center, 2020 college graduates saw a bigger decrease in labor force participation than those who graduated during the Great Recession.

Pew estimates that among all Americans ages 16 and older, the employment rate declined from 61% in October 2019 to 58% in October 2020.

And according to an analysis of U.S. Census, Bureau of Labor Statistics and National Center for Education Statistics data for the years 1980 to 2019 by Georgetown University researchers, college costs have increased by 169% over the past four decades — while earnings for workers between the ages of 22 and 27 have increased by just 19%.

To make matters worse, college graduates today also owe more in student debt. Adjusted for inflation, 2008 college graduates owed $24,012 in student loans, on average. In 2020, that total was closer to $36,665.

Beyond a difficult labor market, the NACE report also mentions that graduate school attendance may be another reason the class of 2020′s employment rate dipped. Just over 21% of 2020 grads pursued continuing education after receiving their bachelor’s degree, an increase from 18.6% in 2019.

The report also notes that for college graduates who did manage to secure full-time traditional employment, wages increased.

“The average starting salary for the class of 2020 was $56,576 — 3.8% greater than in 2019. In addition, the median salary rose to $54,686 — 3.7% greater than in 2019,” reads the report. “A key driver for the increase in the average starting salary was the lack of lower-paying jobs that many new graduates typically secure as their first assignment following graduation. As was the case with the increases for the class of 2019, the salary increases for 2020 exceeded inflation. The real increase in starting salaries, controlling for inflation, was 2.5%.”

“Many of the retail, hospitality and other service-focused jobs simply weren’t there, and these tend to be lower-paying,” explains VanDerziel. “As a result, most of the salaries that were reported were the higher-paying jobs, which skewed the average.”


https://www.cnbc.com/2021/12/10/50percent-of-the-class-of-2020-got-full-time-jobs-6-months-after-graduation.html