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Subscribe to RSSIf you want to get a job in this economy, it's becoming increasingly clear that you better also be thinking about getting an education beyond just a high school degree.
The government reported Friday that the unemployment rate for college graduates fell slightly in May, to 3.9 percent from 4 percent a month earlier.
For people with just a high school degree, the unemployment rate increased to 8.1 percent, from 7.9 percent a month earlier.
The overall unemployment rate was 8.2 percent in May, the Bureau of Labor Statistics said. That reflects even higher rates of unemployment among those who don’t even have a high school degree.
In general, it’s long been the case that people with a college degree have an easier time finding a job, and make more money, than those who have just a high school degree. But in the past year or so, as the job market has improved slowly and in fits and starts, the gap between education levels has become especially stark.
That’s a trend that experts expect to continue as the job market increasingly comes to rely on more skilled workers and has fewer options for people with just a high school degree.
“We’re not creating jobs in that arena, period,” said Diane Swonk, chief economist at Mesirow Financial.
The number of college graduates who are employed increased by about 1.5 million in the past year, to nearly 46.4 million people as of May, according to the Bureau of Labor Statistics.
The number of people who just have a high school degree and are employed has actually fallen very slightly, to 33.9 million people, the government data shows.
The trends in the employment data aren’t surprising to Jack Downing, a managing partner with the job placement firm MRINetwork WorldBridge Partners.
In the past six months or so, Downing said he’s started to see such high demand for college graduates, particularly in fields such as engineering and information technology, that some candidates are fielding multiple job offers.
That’s a situation he said he and his partners hadn’t encountered in three years, and that is catching picky employers off guard.
On the other hand, Downing said, he’s finding that the job search is much tougher for people with just a high school degree, particularly if they’ve had a long bout of unemployment and may face the perception that their skills and experience are out of date.
Downing said one problem for people without an advanced education is that low-skilled jobs are increasingly moving overseas or being consolidated.
Another issue is that employers are increasingly asking for candidates with a college degree even for jobs that might once not have had that requirement.
“They have an option now, so they’re going to take somebody with a college education over somebody that’s not (got a degree),” Downing said. “It shows a commitment to themselves. It shows that they can learn, and most likely are going to be committed to career development.”
Downing doesn’t expect the preference for more educated workers to change, even if the economy starts to improve more quickly and more jobs become available.
Still, college isn’t for everyone, and Swonk said the changing job market does have options for people who don’t want to get a four-year degree. She said there is high demand for people who have done certain shorter-term, specialized training in trades like welding, or in fields such as aerospace.
The key is making sure you get trained in a field where there is demand for workers.
“You need, minimally, some kind of an education to get a job,” she said. “The question is, are you getting the right education?”
The unemployment rate for people with some college or an associate’s degree was 7.9 percent in May, slightly lower than for people with less education.
Of course, in this economy even people with a college degree are finding the job market difficult, and that’s particularly true if they are fresh out of college. The unemployment for younger workers is generally higher than for older workers, and many are struggling with high student loan debt loads.
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The key is making sure you get trained in a field where there is demand for workers.
Wow. That's brilliant advice. Who would have thought to do this?
Sadly commonsense is not common.
Whenever this topic of college education comes up somebody must bring the old saw up that Bill Gates doesn't have a college degree. However, they always fail to mention these 3 other things about Bill Gates as well: 1) Bill has a high I.Q; 2) Bill had a killer idea; and 3) Bill had over 2 years of education at Harvard behind him.
They also forget that Bill Gates has said in interviews that he prefers to hire college graduates.
My BS degree in accounting got me a job as retired. No experience and too old. Told I made too much in the job s I had for 30 years with same company as compared to a beginning accounting job. Here is the kicker, the company paid for the 4 year degree and was paying for an MBA if I wanted it. We UAW shop union workers had good benefits also and better pay. I just retired at 55 11 years ago and never regretted it.
thanks to the obama depression you now need a bachalors in science to get a part time minimun wage job flipping burgers at burger king
More important than degrees are skills. If you pursue a college degree, make sure it is in a field that can land you a related job (engineering, accounting, etc.). History majors are, well, history. If you decide not to pursue college, learn a valued trade or skill. Plumbing may not sound sexy but can earn you a nice living. In the future, unskilled labor will be unemployable--robots or software will be doing this work. As I have told my kids on many occasions: "There is no such thing as having too many skills".
face it we are now a farming nation, teach your kids to pick tomatoes for 50 cents an hour no benefits like the illegals make
That shows you have NO IDEA. you get paid more picking but you wouldn't know that.
While I think getting a degree is always a good thing, in this economy it doesn't translate into a job. I have a Bachelor's in Finance and a law degree from a law school which I graduated Magna Cum Laude. I haven't been able to find a law job in over a year and it all seems to be getting worse by the minute with firms going bankrupt and laying off hundreds of lawyers. Coupled with government hiring freezes there are absolutely no jobs for recent graduates, as the jobs advertised all want three to five years of experience. Get a degree in computer science, engineering or medicine, you'll have a job, anything else it's a craps shoot. All that along with lack of decent public healthcare and the government's general lack of concern in employing those who are out of work (this is how you kick start a stagnant economy, read up on John Maynard Keynes if you don't believe me) makes me want to move to a country where the government actually cares about it's citizens and not just the super rich ones!
It's not the government's responsibility to find a job for you.
you are correct the gop thinks of you as a free loading lazy bum for not having a job and wants to cut off all of your unemployment, food stamps or anything else you get and give it to the multi millionaires like romney who really need it
If the gov't wants the country to prosper, the people to prosper, and wants to continue to get paid with our tax dollars, they are going to make sure Americans have jobs.
Hell, what gov't says :"Well, we got our jobs. Whats that? 90% unemployment? Tough @!$%#"
@Tracy1973 It absolutely is the government's responsibility to provide employment prospects when the private sector is not. Clearly you're uninformed about Keynesian economics. What happens is: 1) Government begins to deficit spend in time of recession/depression; 2) Government deficit spending is used to create public works projects; 3) Public works projects put unemployed people to work (better than unemployment check because at least the government and the rest of us get something back in the form of labor); 4) Jobs allow people to buy goods and services and also generates tax revenue; 5) People buy goods and services driving up demand; 6) Private sector starts to increase production to meet demand; 7) When demand increases, supply must increase to meet demand and this means the private sector has to hire workers; 8) As this process continues the private sector takes over the role as the job provider and the public works projects come to an end and as we saw under Clinton the private sector grows and allows the government to be paid back for its deficit spending in the form of increased tax revenue. See, this is how economics works, it's worked for a hundred years and has gotten the US out of a great many recessions and even a depression. Don't let the ignorant right wing conservatives and tea partiers try to convince you it's not the government's job, it is! The constitution states that the government's JOB is to "insure domestic Tranquility, provide for the common defense, promote the general Welfare...." Now in my mind when millions of people are unemployed and the private sector is unwilling or unable to hire workers, this leads to a decline in the general welfare as well as may lead to an decrease in domestic tranquility. Sorry that that was long winded but as an Attorney, a job seeker and an American Citizen I cannot stand by and let people like you repeat the ignorant talking points of the uninformed and politically motivated.
I agree with the article inasmuch that one's ability to reach out for further education and training is an excellent strategy to increase the odds to find work as well as increased pay & opportunity. Relying on only a high school diploma isn't necessarily a life sentence of part-time, minimum wage work as you could pursue a management role in a retail setting, start your own business or receive on-the-job training in an area like automotive repair.
A person interested in computers could work toward a certificate and perform PC repair. A step toward a future nursing career could begin by earning a CNA certificate and helping elderly clients out in their own homes. The point is, there are options available to those who look for them and are willing to do the work.
I have 4! and they aren't helping me!!!!!!!!!!!!!!!!!!
I have a degree, but being 63 is a liability in the job market. Currently, I work concessions for 7.95 per hour.
Despite the draw-down, the military is still a great option for high-school graduates.
Yeah, dying in the field or coming home with missing limbs sounds wonderful. Where do I sign up?
The military wants people who are courageous and have common sense Shandril. Somehow I don't think you would quailfy.
Better make it a salable area (IT, math, etc--not art) and from a legitimate college--accreditation is not enough to guarantee excellence.
Get a degree? That's good advice, provided that you don't get one in Creative Writing, Philosophy, Liberal Arts, or some other intellectually exotic but economically useless field. If you simply must stroke your intellectual ego while filling your coffers with cash, major in a major field of technical science or medicine, then minor in your pet projects like those mentioned above. Otherwise, Occupy Wall Street is the only future in store for you: Beating bongos, smoking weed, and bitching about how unfair America has been to you.
Engineering and science people and there aren't enough people going into these highly valued fields which is why there are so many openings out there that are unfilled.
Auto mechanics can make between $25k & $100k a year, some exceptional mechanics make over $100k per year. Don't really even need to know how to read or write that good. To be a good mechanic, you do need to have a knack for it though.
who writes this garbage,
This article is miscontruing data so hard its frustrating. That 3.9% number they wave around, that includes ALL people with college degrees. Thats not only recent college grads, but 30-60 year olds who are working and are college educated.
But guess what? There is a 50% unemployment rate of people aged 18-28. So if you are currently in college or recently graduated, you can't find a job in your field OR at some minimum wage dish washing place.
Hell, it took me 2 years to find a job. Started looking as a college freshman, found one now, on my way to becoming a junior. Its ridiculous, and those who've graduated are having similar luck.
Technically, it would be easier for a high school graduate to get a job right now. Who is going to get up and leave if a better job presents itself? The college grad. Who isn't going to have better job opportunities show up? The HS grad.
The amount of times I've been denied a job at an interview because I am "overqualified" and a college student with 5-6 years work experience should be able to "get a better job than this" is staggering.
The White Elephant of our Education systems needs to be shot and killed. Young people should not have to enter life strapped with the huge amount of Debt for a college degree. The system has been corrupt for too long and needs to be recreated. We need educated workers with creativity, skill sets and drive.
This article is just for entertainment and, like most BLS statistics, is far from accurate. The ironic thing for my college experience is that I walked off the stage and into a job that doesn't require a degree and had absolutely nothing to do with anything I was taught at the university. I know journeyman/contractor plumbers/HVAC that make as much as lawyers. I got a job driving a truck 5 nights a week for $55,000 to start with free medical/dental/vision right out of college. The job was boring/simple, but it sure did pay off my student loans fast. Meanwhile, new engineer grads can't find a job. It's all about luck and who you know.
What a load! I have an engineering degree with 20 years of experience. I have applied for over 1000 jobs all of which I am qualified for and not one offer. I know many people in similar situations. I recently passed the CCNA exam (5 months ago) and recieved my certification from Cisco and still, no offers.
I agree those saying a engineering job is a cinch are crazy, the only want to hire the ones with the visas they can get at dirt cheap, they only want to pay their engineers like 8-10 bucks an hour
Most College graduates I meet barely know how to read. write, or even express themselves verbally. And that is not meant to be an insult nor funny! They are intentionally 'Dumbed Down' to create a society that will be easily influenced and controlled by government.
Government funded a research project to determine what percentage of Americas total available workforce would actually be needed to supply bare essentials for our population to survive... the consensus was 12%.
My question is 'why' does government want to know?
You're paranoid and confusing cause and effect. The purpose of education is not to "dumb down" the population as part of some giant, complex government conspiracy. Don't use that as an excuse NOT to get an education.