Introduction and key findings

The Great Recession has had lasting effects on employment prospects of young people entering the workforce after graduating from high school or college. Despite officially ending in June 2009, the recession left millions unemployed for prolonged spells, with recent workforce entrants such as young graduates being particularly vulnerable. The slow pace of the recovery means that seven classes of students have graduated into an acutely weak labor market and have had to compete with more-experienced workers for a limited number of job opportunities. This is on top of the fact that graduates since 2000 have confronted suboptimal labor market conditions, resulting in stagnant wages and limited job opportunities. While recent improvements in economic conditions have finally begun to brighten young graduates’ job prospects, the labor market is still far from recovered from the Great Recession.

This paper’s title, The Class of 2015, is admittedly something of a misnomer, as we do not yet know the labor market outcomes of these graduates. However, the outcomes of recent high school and college graduates provide a good sense of the labor market conditions faced by the young men and women who graduate this spring. This paper focuses on recent high school (age 17–20) and college graduates (age 21–24) who are not enrolled in further schooling. We analyze employment, enrollment, and wage trends in order to glean the Class of 2015’s economic prospects as they start their careers.

Due to the progression of the economic recovery and a modest improvement in the unemployment rate, members of the Class of 2015 currently have better job prospects than the classes of 2009–2014. However, the Class of 2015 still faces real economic challenges, as evidenced by elevated levels of unemployment and underemployment, and a large share of graduates who still remain “idled” by the economy. In addition, wages of young high school and college graduates have failed to reach their prerecession levels, and have in fact stagnated or declined for almost every group since 2000.

Key findings include:

Unemployment of young graduates is extremely high today, but not because of something unique about the Great Recession and its aftermath that has affected young people in particular. Rather, it is high because young workers always experience disproportionate increases in unemployment during periods of labor market weakness—and the Great Recession and its aftermath is the longest, most severe period of economic weakness in more than seven decades.

Unemployment and underemployment rates among young graduates are improving but remain substantially higher than before the recession began. For young college graduates, the unemployment rate is currently 7.2 percent (compared with 5.5 percent in 2007), and the underemployment rate is 14.9 percent (compared with 9.6 percent in 2007). For young high school graduates, the unemployment rate is 19.5 percent (compared with 15.9 percent in 2007), and the underemployment rate is 37.0 percent (compared with 26.8 percent in 2007).



The high share of unemployed and underemployed young college graduates and the share of employed young college graduates working in jobs that do not require a college degree underscore that the current unemployment crisis among young workers did not arise because today’s young adults lack the right education or skills. Rather, it stems from weak demand for goods and services, which makes it unnecessary for employers to significantly ramp up hiring.

The share of young graduates who are “idled” by the economy—neither enrolled in further schooling nor employed—remains elevated in the wake of the Great Recession. This indicates that many graduates are unable to take the two main paths—receiving further education or getting more work experience—that enable future career success. Among young college graduates, 10.5 percent are neither enrolled nor employed (compared with 8.4 percent in 2007). Among young high school graduates, 16.3 percent are neither enrolled nor employed (compared with 13.7 percent in 2007).



Wages of young college and high school graduates are performing poorly—and are substantially lower today than in 2000. The real (inflation-adjusted) wages of young high school graduates are 5.5 percent lower today than in 2000, and the wages of young college graduates are 2.5 percent lower. Women in particular have seen large declines in hourly wages, among both high school and college graduates. Young high school and college graduates’ wages follow the same trends as those of older graduates, signaling that the slowdown in young graduates’ wages stems from a wider wage growth problem.



The overall unemployment rates, idling rates, and wages of young graduates mask substantial racial and ethnic disparities in these measures. The unemployment rates of blacks and Hispanics are substantially higher than the unemployment rates of white non-Hispanics, for both young high school graduates and young college graduates. The share of young black and Hispanic graduates who remain unemployed and not enrolled in further schooling is substantially higher than that of white graduates.



The cost of higher education has grown far more rapidly than median family income, leaving students with little choice but to take out loans which, upon graduating into a labor market with limited job opportunities, they may not have the funds to repay. From the 1983–1984 enrollment year to the 2013–2014 enrollment year, the inflation-adjusted cost of a four-year education, including tuition, fees, and room and board, increased 125.7 percent for private school and 129.0 percent for public school (according to the College Board). Between 2004 and 2014, there was a 92 percent increase in the number of student loan borrowers and a 74 percent increase in average student loan balances (according to the Federal Reserve Bank of New York).



Due to young college graduates’ limited job opportunities, stagnating wages, and the rising cost of higher education, college is becoming an increasingly difficult investment.

Graduating in a weak economy has long-lasting economic consequences. Economic research suggests that for the next 10 to 15 years, those in the Class of 2015 will likely earn less than if they had graduated when job opportunities were plentiful.

The policy solutions to improve the job prospects of young high school and college graduates are the same solutions needed to help generate broad-based demand for all workers. We should pursue full employment and boost wages through prioritizing low rates of unemployment when making monetary policy, publicly financing employment programs and investing in infrastructure, strengthening collective bargaining rights, raising the minimum wage, strongly enforcing labor standards, and ending discriminatory practices that contribute to race and gender inequalities.



In good times and bad, unemployment rate twice as high for young workers

In economic recessions as well as expansions, the unemployment rate of young workers (those under age 25) is typically a little more than twice as high as the overall unemployment rate. On average between 1989 and 2007, the unemployment rate of workers under age 25 was 2.2 times as high as the overall unemployment rate (see Figure A for national data and Appendix Table A1 for state-level data). This trend persists over time because young workers are relatively new to the labor market—often looking for their first or second job—and they may be passed over in hiring decisions due to lack of experience. As for young workers who are already employed, their lack of seniority makes them likely candidates for being laid off if their firm falls on hard times or is restructuring. Young workers also tend to be more mobile than older workers, moving between employers, careers, or cities, and thus spend a larger share of their time as job seekers.

Figure A Unemployment rate of workers under age 25 and all workers, 1969–2015 Date All Under 25 1969-01-01 3.4% 8.2% 1969-02-01 3.4% 8.1% 1969-03-01 3.4% 8.3% 1969-04-01 3.4% 8.2% 1969-05-01 3.4% 8.3% 1969-06-01 3.5% 8.3% 1969-07-01 3.5% 8.7% 1969-08-01 3.5% 8.2% 1969-09-01 3.7% 8.9% 1969-10-01 3.7% 8.8% 1969-11-01 3.5% 8.2% 1969-12-01 3.5% 8.4% 1970-01-01 3.9% 9.3% 1970-02-01 4.2% 9.8% 1970-03-01 4.4% 9.6% 1970-04-01 4.6% 10.4% 1970-05-01 4.8% 10.4% 1970-06-01 4.9% 11.2% 1970-07-01 5.0% 11.0% 1970-08-01 5.1% 11.4% 1970-09-01 5.4% 12.1% 1970-10-01 5.5% 12.2% 1970-11-01 5.9% 12.9% 1970-12-01 6.1% 12.8% 1971-01-01 5.9% 12.6% 1971-02-01 5.9% 12.5% 1971-03-01 6.0% 12.8% 1971-04-01 5.9% 12.5% 1971-05-01 5.9% 13.0% 1971-06-01 5.9% 13.2% 1971-07-01 6.0% 12.9% 1971-08-01 6.1% 12.8% 1971-09-01 6.0% 12.4% 1971-10-01 5.8% 12.4% 1971-11-01 6.0% 13.0% 1971-12-01 6.0% 12.7% 1972-01-01 5.8% 12.7% 1972-02-01 5.7% 12.8% 1972-03-01 5.8% 12.8% 1972-04-01 5.7% 12.4% 1972-05-01 5.7% 11.8% 1972-06-01 5.7% 11.8% 1972-07-01 5.6% 12.0% 1972-08-01 5.6% 12.1% 1972-09-01 5.5% 12.0% 1972-10-01 5.6% 12.0% 1972-11-01 5.3% 11.5% 1972-12-01 5.2% 11.3% 1973-01-01 4.9% 10.2% 1973-02-01 5.0% 10.9% 1973-03-01 4.9% 10.4% 1973-04-01 5.0% 11.0% 1973-05-01 4.9% 10.7% 1973-06-01 4.9% 10.4% 1973-07-01 4.8% 10.6% 1973-08-01 4.8% 10.3% 1973-09-01 4.8% 10.7% 1973-10-01 4.6% 10.0% 1973-11-01 4.8% 10.4% 1973-12-01 4.9% 10.5% 1974-01-01 5.1% 10.8% 1974-02-01 5.2% 11.0% 1974-03-01 5.1% 10.7% 1974-04-01 5.1% 10.5% 1974-05-01 5.1% 11.3% 1974-06-01 5.4% 11.8% 1974-07-01 5.5% 12.1% 1974-08-01 5.5% 11.7% 1974-09-01 5.9% 12.6% 1974-10-01 6.0% 12.5% 1974-11-01 6.6% 13.4% 1974-12-01 7.2% 14.2% 1975-01-01 8.1% 15.1% 1975-02-01 8.1% 15.6% 1975-03-01 8.6% 16.2% 1975-04-01 8.8% 16.5% 1975-05-01 9.0% 16.9% 1975-06-01 8.8% 16.3% 1975-07-01 8.6% 16.6% 1975-08-01 8.4% 16.3% 1975-09-01 8.4% 16.1% 1975-10-01 8.4% 16.1% 1975-11-01 8.3% 15.7% 1975-12-01 8.2% 15.6% 1976-01-01 7.9% 15.4% 1976-02-01 7.7% 14.7% 1976-03-01 7.6% 14.6% 1976-04-01 7.7% 14.9% 1976-05-01 7.4% 14.3% 1976-06-01 7.6% 14.5% 1976-07-01 7.8% 14.2% 1976-08-01 7.8% 15.0% 1976-09-01 7.6% 14.4% 1976-10-01 7.7% 14.9% 1976-11-01 7.8% 14.9% 1976-12-01 7.8% 14.8% 1977-01-01 7.5% 14.3% 1977-02-01 7.6% 14.5% 1977-03-01 7.4% 14.2% 1977-04-01 7.2% 13.7% 1977-05-01 7.0% 13.7% 1977-06-01 7.2% 14.0% 1977-07-01 6.9% 13.3% 1977-08-01 7.0% 13.7% 1977-09-01 6.8% 13.5% 1977-10-01 6.8% 13.0% 1977-11-01 6.8% 13.1% 1977-12-01 6.4% 12.2% 1978-01-01 6.4% 12.9% 1978-02-01 6.3% 13.0% 1978-03-01 6.3% 13.0% 1978-04-01 6.1% 12.6% 1978-05-01 6.0% 11.8% 1978-06-01 5.9% 11.7% 1978-07-01 6.2% 12.5% 1978-08-01 5.9% 11.7% 1978-09-01 6.0% 12.1% 1978-10-01 5.8% 11.5% 1978-11-01 5.9% 11.9% 1978-12-01 6.0% 12.1% 1979-01-01 5.9% 11.6% 1979-02-01 5.9% 11.7% 1979-03-01 5.8% 11.6% 1979-04-01 5.8% 11.6% 1979-05-01 5.6% 11.6% 1979-06-01 5.7% 11.5% 1979-07-01 5.7% 11.6% 1979-08-01 6.0% 12.2% 1979-09-01 5.9% 12.1% 1979-10-01 6.0% 12.1% 1979-11-01 5.9% 11.6% 1979-12-01 6.0% 12.4% 1980-01-01 6.3% 12.6% 1980-02-01 6.3% 12.5% 1980-03-01 6.3% 12.3% 1980-04-01 6.9% 13.1% 1980-05-01 7.5% 14.7% 1980-06-01 7.6% 14.7% 1980-07-01 7.8% 14.9% 1980-08-01 7.7% 14.7% 1980-09-01 7.5% 14.3% 1980-10-01 7.5% 14.5% 1980-11-01 7.5% 14.4% 1980-12-01 7.2% 13.7% 1981-01-01 7.5% 14.5% 1981-02-01 7.4% 14.6% 1981-03-01 7.4% 14.5% 1981-04-01 7.2% 14.5% 1981-05-01 7.5% 15.1% 1981-06-01 7.5% 14.9% 1981-07-01 7.2% 14.1% 1981-08-01 7.4% 14.5% 1981-09-01 7.6% 14.9% 1981-10-01 7.9% 15.3% 1981-11-01 8.3% 15.9% 1981-12-01 8.5% 16.1% 1982-01-01 8.6% 16.5% 1982-02-01 8.9% 17.0% 1982-03-01 9.0% 16.9% 1982-04-01 9.3% 17.4% 1982-05-01 9.4% 17.3% 1982-06-01 9.6% 17.5% 1982-07-01 9.8% 18.0% 1982-08-01 9.8% 18.1% 1982-09-01 10.1% 18.2% 1982-10-01 10.4% 18.5% 1982-11-01 10.8% 19.0% 1982-12-01 10.8% 18.9% 1983-01-01 10.4% 18.5% 1983-02-01 10.4% 18.4% 1983-03-01 10.3% 18.2% 1983-04-01 10.2% 18.0% 1983-05-01 10.1% 17.7% 1983-06-01 10.1% 17.8% 1983-07-01 9.4% 16.8% 1983-08-01 9.5% 17.3% 1983-09-01 9.2% 16.4% 1983-10-01 8.8% 16.2% 1983-11-01 8.5% 15.4% 1983-12-01 8.3% 14.9% 1984-01-01 8.0% 14.8% 1984-02-01 7.8% 14.3% 1984-03-01 7.8% 14.4% 1984-04-01 7.7% 14.5% 1984-05-01 7.4% 13.6% 1984-06-01 7.2% 13.2% 1984-07-01 7.5% 13.7% 1984-08-01 7.5% 14.1% 1984-09-01 7.3% 14.0% 1984-10-01 7.4% 13.6% 1984-11-01 7.2% 13.2% 1984-12-01 7.3% 13.7% 1985-01-01 7.3% 13.6% 1985-02-01 7.2% 13.6% 1985-03-01 7.2% 13.6% 1985-04-01 7.3% 13.2% 1985-05-01 7.2% 13.6% 1985-06-01 7.4% 13.5% 1985-07-01 7.4% 14.2% 1985-08-01 7.1% 13.3% 1985-09-01 7.1% 13.3% 1985-10-01 7.1% 14.1% 1985-11-01 7.0% 13.5% 1985-12-01 7.0% 13.5% 1986-01-01 6.7% 13.0% 1986-02-01 7.2% 13.6% 1986-03-01 7.2% 13.2% 1986-04-01 7.1% 13.7% 1986-05-01 7.2% 13.7% 1986-06-01 7.2% 13.5% 1986-07-01 7.0% 13.3% 1986-08-01 6.9% 13.1% 1986-09-01 7.0% 13.6% 1986-10-01 7.0% 13.0% 1986-11-01 6.9% 12.8% 1986-12-01 6.6% 13.0% 1987-01-01 6.6% 13.0% 1987-02-01 6.6% 13.1% 1987-03-01 6.6% 12.8% 1987-04-01 6.3% 12.6% 1987-05-01 6.3% 12.5% 1987-06-01 6.2% 12.3% 1987-07-01 6.1% 11.8% 1987-08-01 6.0% 11.7% 1987-09-01 5.9% 11.8% 1987-10-01 6.0% 11.8% 1987-11-01 5.8% 11.5% 1987-12-01 5.7% 11.2% 1988-01-01 5.7% 11.5% 1988-02-01 5.7% 11.3% 1988-03-01 5.7% 11.8% 1988-04-01 5.4% 11.2% 1988-05-01 5.6% 11.3% 1988-06-01 5.4% 10.5% 1988-07-01 5.4% 10.8% 1988-08-01 5.6% 11.0% 1988-09-01 5.4% 10.8% 1988-10-01 5.4% 10.8% 1988-11-01 5.3% 10.5% 1988-12-01 5.3% 10.8% 1989-01-01 5.4% 11.8% 1989-02-01 5.2% 10.6% 1989-03-01 5.0% 10.1% 1989-04-01 5.2% 10.6% 1989-05-01 5.2% 10.4% 1989-06-01 5.3% 11.2% 1989-07-01 5.2% 10.6% 1989-08-01 5.2% 10.9% 1989-09-01 5.3% 11.1% 1989-10-01 5.3% 11.0% 1989-11-01 5.4% 11.3% 1989-12-01 5.4% 11.2% 1990-01-01 5.4% 10.8% 1990-02-01 5.3% 10.7% 1990-03-01 5.2% 10.6% 1990-04-01 5.4% 11.1% 1990-05-01 5.4% 10.8% 1990-06-01 5.2% 10.4% 1990-07-01 5.5% 10.7% 1990-08-01 5.7% 11.5% 1990-09-01 5.9% 11.7% 1990-10-01 5.9% 11.8% 1990-11-01 6.2% 12.0% 1990-12-01 6.3% 12.0% 1991-01-01 6.4% 12.6% 1991-02-01 6.6% 12.8% 1991-03-01 6.8% 13.1% 1991-04-01 6.7% 12.7% 1991-05-01 6.9% 13.6% 1991-06-01 6.9% 13.6% 1991-07-01 6.8% 13.8% 1991-08-01 6.9% 13.5% 1991-09-01 6.9% 13.4% 1991-10-01 7.0% 13.9% 1991-11-01 7.0% 13.8% 1991-12-01 7.3% 14.6% 1992-01-01 7.3% 13.9% 1992-02-01 7.4% 14.2% 1992-03-01 7.4% 14.1% 1992-04-01 7.4% 13.6% 1992-05-01 7.6% 14.4% 1992-06-01 7.8% 15.2% 1992-07-01 7.7% 14.5% 1992-08-01 7.6% 14.2% 1992-09-01 7.6% 14.5% 1992-10-01 7.3% 13.5% 1992-11-01 7.4% 14.3% 1992-12-01 7.4% 14.2% 1993-01-01 7.3% 14.0% 1993-02-01 7.1% 14.1% 1993-03-01 7.0% 13.6% 1993-04-01 7.1% 13.8% 1993-05-01 7.1% 14.2% 1993-06-01 7.0% 13.7% 1993-07-01 6.9% 13.1% 1993-08-01 6.8% 13.0% 1993-09-01 6.7% 12.6% 1993-10-01 6.8% 13.0% 1993-11-01 6.6% 12.9% 1993-12-01 6.5% 12.5% 1994-01-01 6.6% 13.4% 1994-02-01 6.6% 12.9% 1994-03-01 6.5% 13.1% 1994-04-01 6.4% 13.3% 1994-05-01 6.1% 12.5% 1994-06-01 6.1% 12.4% 1994-07-01 6.1% 12.4% 1994-08-01 6.0% 12.5% 1994-09-01 5.9% 12.1% 1994-10-01 5.8% 12.0% 1994-11-01 5.6% 11.4% 1994-12-01 5.5% 11.5% 1995-01-01 5.6% 11.4% 1995-02-01 5.4% 11.7% 1995-03-01 5.4% 11.6% 1995-04-01 5.8% 12.0% 1995-05-01 5.6% 11.9% 1995-06-01 5.6% 12.0% 1995-07-01 5.7% 12.5% 1995-08-01 5.7% 12.5% 1995-09-01 5.6% 12.7% 1995-10-01 5.5% 12.4% 1995-11-01 5.6% 12.0% 1995-12-01 5.6% 12.4% 1996-01-01 5.6% 12.8% 1996-02-01 5.5% 12.2% 1996-03-01 5.5% 12.2% 1996-04-01 5.6% 12.0% 1996-05-01 5.6% 12.2% 1996-06-01 5.3% 11.8% 1996-07-01 5.5% 12.4% 1996-08-01 5.1% 11.6% 1996-09-01 5.2% 11.4% 1996-10-01 5.2% 11.6% 1996-11-01 5.4% 11.9% 1996-12-01 5.4% 11.8% 1997-01-01 5.3% 12.2% 1997-02-01 5.2% 11.8% 1997-03-01 5.2% 11.7% 1997-04-01 5.1% 11.6% 1997-05-01 4.9% 11.1% 1997-06-01 5.0% 11.4% 1997-07-01 4.9% 11.2% 1997-08-01 4.8% 11.1% 1997-09-01 4.9% 11.2% 1997-10-01 4.7% 11.0% 1997-11-01 4.6% 10.8% 1997-12-01 4.7% 10.5% 1998-01-01 4.6% 10.9% 1998-02-01 4.6% 10.6% 1998-03-01 4.7% 10.5% 1998-04-01 4.3% 9.7% 1998-05-01 4.4% 10.3% 1998-06-01 4.5% 10.6% 1998-07-01 4.5% 10.6% 1998-08-01 4.5% 10.8% 1998-09-01 4.6% 11.0% 1998-10-01 4.5% 10.5% 1998-11-01 4.4% 9.8% 1998-12-01 4.4% 9.6% 1999-01-01 4.3% 10.2% 1999-02-01 4.4% 10.1% 1999-03-01 4.2% 9.9% 1999-04-01 4.3% 10.0% 1999-05-01 4.2% 9.6% 1999-06-01 4.3% 10.0% 1999-07-01 4.3% 9.9% 1999-08-01 4.2% 9.6% 1999-09-01 4.2% 10.2% 1999-10-01 4.1% 10.0% 1999-11-01 4.1% 9.9% 1999-12-01 4.0% 9.6% 2000-01-01 4.0% 9.4% 2000-02-01 4.1% 9.9% 2000-03-01 4.0% 9.6% 2000-04-01 3.8% 9.2% 2000-05-01 4.0% 9.8% 2000-06-01 4.0% 9.3% 2000-07-01 4.0% 9.3% 2000-08-01 4.1% 9.3% 2000-09-01 3.9% 8.9% 2000-10-01 3.9% 8.9% 2000-11-01 3.9% 9.1% 2000-12-01 3.9% 9.2% 2001-01-01 4.2% 9.6% 2001-02-01 4.2% 9.6% 2001-03-01 4.3% 9.8% 2001-04-01 4.4% 10.2% 2001-05-01 4.3% 9.9% 2001-06-01 4.5% 10.4% 2001-07-01 4.6% 10.2% 2001-08-01 4.9% 11.2% 2001-09-01 5.0% 10.8% 2001-10-01 5.3% 11.5% 2001-11-01 5.5% 11.6% 2001-12-01 5.7% 12.2% 2002-01-01 5.7% 12.1% 2002-02-01 5.7% 11.8% 2002-03-01 5.7% 12.5% 2002-04-01 5.9% 12.3% 2002-05-01 5.8% 11.6% 2002-06-01 5.8% 11.8% 2002-07-01 5.8% 12.1% 2002-08-01 5.7% 12.0% 2002-09-01 5.7% 11.7% 2002-10-01 5.7% 11.8% 2002-11-01 5.9% 12.1% 2002-12-01 6.0% 12.1% 2003-01-01 5.8% 12.0% 2003-02-01 5.9% 12.1% 2003-03-01 5.9% 12.0% 2003-04-01 6.0% 12.6% 2003-05-01 6.1% 12.9% 2003-06-01 6.3% 13.2% 2003-07-01 6.2% 13.0% 2003-08-01 6.1% 12.3% 2003-09-01 6.1% 12.8% 2003-10-01 6.0% 12.2% 2003-11-01 5.8% 12.1% 2003-12-01 5.7% 11.7% 2004-01-01 5.7% 12.0% 2004-02-01 5.6% 11.7% 2004-03-01 5.8% 12.0% 2004-04-01 5.6% 11.6% 2004-05-01 5.6% 12.1% 2004-06-01 5.6% 12.0% 2004-07-01 5.5% 12.1% 2004-08-01 5.4% 11.5% 2004-09-01 5.4% 11.7% 2004-10-01 5.5% 12.1% 2004-11-01 5.4% 11.5% 2004-12-01 5.4% 11.7% 2005-01-01 5.3% 11.6% 2005-02-01 5.4% 12.4% 2005-03-01 5.2% 11.8% 2005-04-01 5.2% 11.8% 2005-05-01 5.1% 11.7% 2005-06-01 5.0% 11.1% 2005-07-01 5.0% 10.7% 2005-08-01 4.9% 11.1% 2005-09-01 5.0% 10.8% 2005-10-01 5.0% 10.8% 2005-11-01 5.0% 11.1% 2005-12-01 4.9% 10.5% 2006-01-01 4.7% 10.4% 2006-02-01 4.8% 10.8% 2006-03-01 4.7% 10.5% 2006-04-01 4.7% 10.3% 2006-05-01 4.6% 10.0% 2006-06-01 4.6% 10.4% 2006-07-01 4.7% 10.9% 2006-08-01 4.7% 10.7% 2006-09-01 4.5% 10.6% 2006-10-01 4.4% 10.6% 2006-11-01 4.5% 10.6% 2006-12-01 4.4% 10.0% 2007-01-01 4.6% 10.3% 2007-02-01 4.5% 9.9% 2007-03-01 4.4% 10.0% 2007-04-01 4.5% 10.3% 2007-05-01 4.4% 9.9% 2007-06-01 4.6% 10.6% 2007-07-01 4.7% 10.5% 2007-08-01 4.6% 10.7% 2007-09-01 4.7% 11.2% 2007-10-01 4.7% 10.7% 2007-11-01 4.7% 10.8% 2007-12-01 5.0% 11.7% 2008-01-01 5.0% 11.7% 2008-02-01 4.9% 11.4% 2008-03-01 5.1% 11.4% 2008-04-01 5.0% 11.0% 2008-05-01 5.4% 13.0% 2008-06-01 5.6% 12.9% 2008-07-01 5.8% 13.5% 2008-08-01 6.1% 13.1% 2008-09-01 6.1% 13.5% 2008-10-01 6.5% 13.6% 2008-11-01 6.8% 14.0% 2008-12-01 7.3% 14.8% 2009-01-01 7.8% 15.0% 2009-02-01 8.3% 16.0% 2009-03-01 8.7% 16.5% 2009-04-01 9.0% 16.7% 2009-05-01 9.4% 17.6% 2009-06-01 9.5% 18.0% 2009-07-01 9.5% 17.9% 2009-08-01 9.6% 18.1% 2009-09-01 9.8% 18.4% 2009-10-01 10.0% 19.1% 2009-11-01 9.9% 19.2% 2009-12-01 9.9% 18.8% 2010-01-01 9.8% 18.8% 2010-02-01 9.8% 18.7% 2010-03-01 9.9% 18.8% 2010-04-01 9.9% 19.5% 2010-05-01 9.6% 18.1% 2010-06-01 9.4% 18.2% 2010-07-01 9.4% 18.4% 2010-08-01 9.5% 17.7% 2010-09-01 9.5% 17.9% 2010-10-01 9.4% 18.7% 2010-11-01 9.8% 18.5% 2010-12-01 9.3% 17.9% 2011-01-01 9.2% 18.1% 2011-02-01 9.0% 17.7% 2011-03-01 9.0% 17.6% 2011-04-01 9.1% 17.6% 2011-05-01 9.0% 17.3% 2011-06-01 9.1% 17.1% 2011-07-01 9.0% 17.3% 2011-08-01 9.0% 17.4% 2011-09-01 9.0% 17.3% 2011-10-01 8.8% 16.7% 2011-11-01 8.6% 17.1% 2011-12-01 8.5% 16.7% 2012-01-01 8.3% 16.1% 2012-02-01 8.3% 16.5% 2012-03-01 8.2% 16.3% 2012-04-01 8.2% 16.5% 2012-05-01 8.2% 16.1% 2012-06-01 8.2% 16.3% 2012-07-01 8.2% 16.3% 2012-08-01 8.0% 16.7% 2012-09-01 7.8% 15.4% 2012-10-01 7.8% 16.1% 2012-11-01 7.7% 15.9% 2012-12-01 7.9% 16.6% 2013-01-01 8.0% 16.8% 2013-02-01 7.7% 16.2% 2013-03-01 7.5% 16.1% 2013-04-01 7.6% 16.1% 2013-05-01 7.5% 16.2% 2013-06-01 7.5% 16.1% 2013-07-01 7.3% 15.5% 2013-08-01 7.2% 15.5% 2013-09-01 7.2% 15.0% 2013-10-01 7.2% 15.0% 2013-11-01 7.0% 14.2% 2013-12-01 6.7% 13.5% 2014-01-01 6.6% 14.3% 2014-02-01 6.7% 14.3% 2014-03-01 6.6% 14.5% 2014-04-01 6.2% 12.8% 2014-05-01 6.3% 13.2% 2014-06-01 6.1% 13.3% 2014-07-01 6.2% 13.6% 2014-08-01 6.1% 13.0% 2014-09-01 5.9% 13.7% 2014-10-01 5.7% 12.7% 2014-11-01 5.8% 12.7% 2014-12-01 5.6% 12.4% 2015-01-01 5.7% 12.2% 2015-02-01 5.5% 11.9% 2015-03-01 5.5% 12.3% Chart Data Download data The data below can be saved or copied directly into Excel. The data underlying the figure. Note: Shaded areas denote recessions. Data are seasonally adjusted. Source: EPI analysis of Bureau of Labor Statistics Current Population Survey public data series Share on Facebook Tweet this chart Embed Copy the code below to embed this chart on your website. Download image

The historical fact that the unemployment rate of young workers tends to be a little more than twice the overall rate continues to be true today. In March 2015, the overall unemployment rate was 5.5 percent, and the unemployment rate of workers under age 25, at 12.3 percent, was 2.2 times as high.

This raises two key points. First, because the unemployment rate of young workers is typically slightly more than twice as high as the overall rate, young workers experience much greater-than-average increases in unemployment during economic downturns. When the overall unemployment rate is elevated by 1 percentage point, the unemployment rate of young workers will likely be elevated by around 2 percentage points.

Second, the dire situation young workers face today is not unexpected given overall labor market weakness. In other words, unemployment of young workers is high today not because of something unique about the Great Recession and its aftermath that has affected young people in particular. Rather, it is high because young workers always experience disproportionate increases in unemployment during downturns—and the Great Recession and its aftermath is the longest, most severe period of economic weakness in more than seven decades.

Educational attainment of young workers

Although this paper focuses on high school and college graduates, it is necessary to note that these populations make up only a portion of young workers. In fact, as seen in Table 1, 75.2 percent of young workers (age 17–24) have a high school degree or more, but only 9.7 percent have at least a college degree.

Table 1 Highest degree earned, by age and demographic, 2015* Age 17–24 Age 24–29 All Men Women White Black Hispanic All Men Women White Black Hispanic Less than high school 24.8% 26.1% 23.5% 22.5% 26.6% 30.9% 8.9% 9.7% 8.0% 4.6% 9.2% 21.6% High school 27.9% 30.1% 25.7% 26.1% 32.2% 32.1% 26.4% 29.9% 22.9% 23.8% 33.0% 32.5% Some college 37.6% 35.8% 39.5% 39.2% 35.9% 32.9% 30.7% 29.4% 32.0% 30.4% 36.7% 29.9% Bachelor’s degree 9.0% 7.5% 10.5% 11.5% 4.9% 3.8% 26.6% 24.6% 28.5% 32.5% 17.2% 13.3% Advanced degree 0.7% 0.6% 0.9% 0.8% 0.5% 0.3% 7.5% 6.4% 8.5% 8.6% 4.0% 2.8% * Data reflect 12-month moving average as of March 2015. Note: Race/ethnicity categories are mutually exclusive (i.e., white non-Hispanic, black non-Hispanic, and Hispanic any race). Source: EPI analysis of basic monthly Current Population Survey microdata Share on Facebook Tweet this chart Embed Copy the code below to embed this chart on your website. Download image

This is an important fact to keep in mind as we consider the role of high school and college graduates in our economy. Although we focus on high school and college graduates, a nontrivial part of the population age 17–24 (24.8 percent) have not graduated from high school or earned an equivalent degree. Of course, as we look at individuals who are slightly older (age 24 to 29), we find that a greater share have finished high school, but college graduates are still a minority. Among this age group, 35.2 percent have a high school degree or less, along with 30.7 percent who have some college experience. Only 34.1 percent have completed college or received an advanced degree. This suggests that more attention should be paid to the job market for those with less than a bachelor’s degree, as they comprise the vast majority (nearly two-thirds) of the 24–29 age group. Access to good jobs for these individuals is especially critical, as stable employment allows them to build a career or pay for further schooling.

High school graduates are struggling to find work

Among young high school graduates, unemployment rates are astonishingly high. Figure B shows the unemployment rate of young high school graduates between age 17 and 20 who are not enrolled in additional schooling. (Most data presented in this paper on graduates who are not enrolled, along with data on enrollment itself, begin in 1989, the first business cycle peak for which enrollment data are available from the Bureau of Labor Statistics. Furthermore, from this point forward, the data from the Current Population Survey [CPS] basic monthly and CPS Outgoing Rotation Group are presented in 12-month moving averages, as this removes any need for seasonal adjustment and provides sufficient sample sizes. For example, the most recent data point is a 12-month average from April 2014 to March 2015, and appears in the figures as March 2015. Consequently, references to data points in the text may not represent calendar-year averages.)

Figure B Unemployment rate of young high school graduates, by gender, 1989–2015* Date All Men Women 1989-12-01 13.0% 12.6% 13.5% 1990-01-01 12.8% 12.3% 13.4% 1990-02-01 12.8% 12.2% 13.5% 1990-03-01 12.7% 12.1% 13.4% 1990-04-01 12.7% 12.4% 13.2% 1990-05-01 12.7% 12.4% 13.0% 1990-06-01 12.3% 12.2% 12.4% 1990-07-01 12.4% 12.5% 12.3% 1990-08-01 12.4% 12.6% 12.1% 1990-09-01 12.4% 12.8% 12.1% 1990-10-01 12.7% 13.0% 12.3% 1990-11-01 12.8% 13.0% 12.5% 1990-12-01 13.0% 13.2% 12.9% 1991-01-01 13.4% 13.5% 13.2% 1991-02-01 13.9% 14.0% 13.8% 1991-03-01 14.2% 14.3% 14.0% 1991-04-01 14.4% 14.6% 14.3% 1991-05-01 14.8% 14.9% 14.6% 1991-06-01 15.4% 15.5% 15.2% 1991-07-01 15.6% 15.8% 15.5% 1991-08-01 15.9% 16.0% 15.8% 1991-09-01 16.1% 16.2% 16.0% 1991-10-01 16.2% 16.4% 16.1% 1991-11-01 16.3% 16.6% 16.1% 1991-12-01 16.5% 16.9% 16.1% 1992-01-01 16.4% 17.0% 15.8% 1992-02-01 16.5% 17.2% 15.7% 1992-03-01 16.7% 17.5% 15.8% 1992-04-01 16.8% 17.6% 15.8% 1992-05-01 17.0% 17.8% 16.1% 1992-06-01 17.1% 18.0% 16.2% 1992-07-01 17.2% 17.9% 16.5% 1992-08-01 17.2% 18.1% 16.2% 1992-09-01 17.3% 18.2% 16.2% 1992-10-01 17.3% 18.2% 16.2% 1992-11-01 17.4% 18.3% 16.3% 1992-12-01 17.4% 18.3% 16.4% 1993-01-01 17.4% 18.2% 16.5% 1993-02-01 17.2% 17.8% 16.5% 1993-03-01 17.2% 17.7% 16.7% 1993-04-01 17.3% 17.7% 16.9% 1993-05-01 17.2% 17.4% 16.9% 1993-06-01 16.9% 17.1% 16.7% 1993-07-01 16.7% 17.2% 16.1% 1993-08-01 16.6% 17.0% 16.1% 1993-09-01 16.4% 16.6% 16.1% 1993-10-01 16.4% 16.7% 16.0% 1993-11-01 16.3% 16.6% 15.9% 1993-12-01 16.2% 16.6% 15.7% 1994-01-01 16.1% 16.5% 15.5% 1994-02-01 16.0% 16.6% 15.4% 1994-03-01 16.1% 16.8% 15.2% 1994-04-01 15.8% 16.5% 14.9% 1994-05-01 15.6% 16.3% 14.7% 1994-06-01 15.4% 16.0% 14.8% 1994-07-01 15.4% 15.8% 14.9% 1994-08-01 15.2% 15.5% 14.9% 1994-09-01 15.2% 15.6% 14.8% 1994-10-01 15.0% 15.2% 14.8% 1994-11-01 14.8% 14.9% 14.7% 1994-12-01 14.6% 14.6% 14.6% 1995-01-01 14.5% 14.4% 14.7% 1995-02-01 14.1% 13.8% 14.5% 1995-03-01 13.9% 13.3% 14.5% 1995-04-01 14.0% 13.4% 14.6% 1995-05-01 14.0% 13.8% 14.3% 1995-06-01 14.2% 14.3% 14.1% 1995-07-01 14.3% 14.2% 14.3% 1995-08-01 14.4% 14.4% 14.3% 1995-09-01 14.6% 14.5% 14.9% 1995-10-01 14.7% 14.6% 14.8% 1995-11-01 14.9% 14.9% 14.8% 1995-12-01 15.0% 15.2% 14.8% 1996-01-01 15.4% 15.7% 15.0% 1996-02-01 15.5% 15.8% 15.1% 1996-03-01 15.6% 16.0% 15.1% 1996-04-01 15.5% 15.8% 15.0% 1996-05-01 15.5% 15.6% 15.4% 1996-06-01 15.2% 15.0% 15.5% 1996-07-01 15.1% 15.1% 15.2% 1996-08-01 15.1% 15.0% 15.1% 1996-09-01 15.1% 15.3% 14.8% 1996-10-01 15.4% 15.6% 15.2% 1996-11-01 15.4% 15.5% 15.3% 1996-12-01 15.4% 15.5% 15.4% 1997-01-01 15.4% 15.3% 15.6% 1997-02-01 15.5% 15.2% 15.8% 1997-03-01 15.3% 15.0% 15.7% 1997-04-01 15.4% 14.8% 16.0% 1997-05-01 15.1% 14.4% 15.9% 1997-06-01 15.2% 14.7% 15.8% 1997-07-01 15.0% 14.2% 15.9% 1997-08-01 15.0% 14.3% 15.8% 1997-09-01 14.7% 13.9% 15.7% 1997-10-01 14.4% 13.6% 15.4% 1997-11-01 14.3% 13.4% 15.4% 1997-12-01 14.0% 13.0% 15.2% 1998-01-01 13.7% 12.9% 14.7% 1998-02-01 13.6% 12.9% 14.4% 1998-03-01 13.5% 13.0% 14.1% 1998-04-01 13.2% 13.1% 13.4% 1998-05-01 13.3% 13.5% 13.0% 1998-06-01 13.1% 13.2% 12.9% 1998-07-01 12.9% 13.3% 12.5% 1998-08-01 12.9% 13.3% 12.5% 1998-09-01 13.0% 13.4% 12.6% 1998-10-01 12.9% 13.4% 12.4% 1998-11-01 12.8% 13.2% 12.2% 1998-12-01 12.6% 13.1% 12.1% 1999-01-01 12.6% 13.3% 11.9% 1999-02-01 12.6% 13.1% 12.0% 1999-03-01 12.5% 12.7% 12.2% 1999-04-01 12.6% 12.5% 12.6% 1999-05-01 12.4% 12.2% 12.7% 1999-06-01 12.2% 12.1% 12.4% 1999-07-01 12.2% 12.0% 12.4% 1999-08-01 12.1% 11.8% 12.6% 1999-09-01 12.0% 11.6% 12.5% 1999-10-01 12.0% 11.5% 12.7% 1999-11-01 12.1% 11.6% 12.7% 1999-12-01 12.3% 11.9% 12.7% 2000-01-01 12.2% 11.7% 12.8% 2000-02-01 12.1% 11.8% 12.5% 2000-03-01 12.3% 12.0% 12.6% 2000-04-01 12.3% 12.0% 12.7% 2000-05-01 12.3% 12.0% 12.7% 2000-06-01 12.4% 12.2% 12.6% 2000-07-01 12.3% 12.1% 12.6% 2000-08-01 12.4% 12.5% 12.4% 2000-09-01 12.2% 12.4% 11.9% 2000-10-01 12.0% 12.4% 11.7% 2000-11-01 12.1% 12.4% 11.7% 2000-12-01 12.1% 12.4% 11.8% 2001-01-01 12.2% 12.3% 11.9% 2001-02-01 12.2% 12.5% 11.8% 2001-03-01 12.1% 12.6% 11.5% 2001-04-01 12.2% 12.8% 11.4% 2001-05-01 11.9% 12.6% 11.1% 2001-06-01 12.0% 12.6% 11.3% 2001-07-01 12.3% 12.9% 11.5% 2001-08-01 12.5% 12.9% 11.9% 2001-09-01 12.9% 13.4% 12.5% 2001-10-01 13.3% 13.7% 12.9% 2001-11-01 13.6% 13.9% 13.2% 2001-12-01 13.9% 14.2% 13.5% 2002-01-01 14.2% 14.5% 13.7% 2002-02-01 14.5% 15.0% 13.9% 2002-03-01 14.9% 15.4% 14.3% 2002-04-01 15.2% 15.8% 14.5% 2002-05-01 15.6% 16.1% 15.1% 2002-06-01 16.0% 16.4% 15.4% 2002-07-01 16.3% 16.7% 15.8% 2002-08-01 16.6% 17.1% 16.0% 2002-09-01 16.5% 17.1% 15.9% 2002-10-01 16.5% 16.9% 16.0% 2002-11-01 16.6% 17.0% 16.0% 2002-12-01 16.4% 16.9% 15.8% 2003-01-01 16.6% 17.0% 16.0% 2003-02-01 16.6% 17.1% 16.0% 2003-03-01 16.6% 17.0% 16.0% 2003-04-01 16.6% 17.1% 15.8% 2003-05-01 16.8% 17.4% 16.0% 2003-06-01 17.0% 17.4% 16.5% 2003-07-01 17.1% 17.6% 16.5% 2003-08-01 17.1% 17.3% 16.7% 2003-09-01 17.2% 17.5% 16.8% 2003-10-01 17.4% 17.8% 16.8% 2003-11-01 17.6% 18.2% 16.7% 2003-12-01 17.6% 18.5% 16.4% 2004-01-01 17.5% 18.4% 16.2% 2004-02-01 17.3% 18.1% 16.3% 2004-03-01 17.4% 18.3% 16.4% 2004-04-01 17.4% 18.1% 16.5% 2004-05-01 17.3% 18.0% 16.4% 2004-06-01 17.0% 17.9% 15.9% 2004-07-01 16.8% 17.5% 15.9% 2004-08-01 16.6% 17.5% 15.5% 2004-09-01 16.6% 17.4% 15.5% 2004-10-01 16.4% 17.1% 15.5% 2004-11-01 16.1% 16.6% 15.5% 2004-12-01 16.0% 16.3% 15.6% 2005-01-01 16.0% 16.3% 15.6% 2005-02-01 16.2% 16.7% 15.5% 2005-03-01 16.1% 16.7% 15.3% 2005-04-01 16.1% 16.8% 15.2% 2005-05-01 16.1% 16.8% 15.2% 2005-06-01 16.2% 17.1% 15.1% 2005-07-01 16.1% 17.2% 14.8% 2005-08-01 16.4% 17.4% 15.2% 2005-09-01 16.4% 17.3% 15.2% 2005-10-01 16.3% 17.3% 15.0% 2005-11-01 16.2% 17.2% 14.8% 2005-12-01 15.9% 16.8% 14.7% 2006-01-01 16.0% 16.7% 15.1% 2006-02-01 15.9% 16.3% 15.3% 2006-03-01 15.7% 16.0% 15.3% 2006-04-01 15.8% 16.0% 15.5% 2006-05-01 15.7% 16.1% 15.2% 2006-06-01 15.4% 15.8% 15.0% 2006-07-01 15.5% 15.8% 15.1% 2006-08-01 15.4% 15.9% 14.8% 2006-09-01 15.5% 16.0% 14.7% 2006-10-01 15.5% 16.1% 14.8% 2006-11-01 15.5% 16.0% 14.9% 2006-12-01 15.8% 16.2% 15.1% 2007-01-01 15.6% 16.3% 14.7% 2007-02-01 15.4% 16.1% 14.4% 2007-03-01 15.3% 16.0% 14.3% 2007-04-01 15.2% 15.9% 14.3% 2007-05-01 15.2% 15.8% 14.3% 2007-06-01 15.5% 16.3% 14.4% 2007-07-01 15.5% 16.5% 14.1% 2007-08-01 15.6% 16.4% 14.6% 2007-09-01 15.5% 16.3% 14.4% 2007-10-01 15.5% 16.5% 14.1% 2007-11-01 15.5% 16.6% 14.0% 2007-12-01 15.9% 17.1% 14.2% 2008-01-01 16.1% 17.2% 14.6% 2008-02-01 16.4% 17.5% 14.8% 2008-03-01 16.9% 17.8% 15.5% 2008-04-01 16.9% 17.9% 15.5% 2008-05-01 17.2% 18.3% 15.7% 2008-06-01 17.4% 18.6% 15.8% 2008-07-01 18.0% 19.1% 16.5% 2008-08-01 18.2% 19.5% 16.4% 2008-09-01 18.6% 19.9% 16.7% 2008-10-01 19.0% 20.4% 17.0% 2008-11-01 19.5% 21.0% 17.4% 2008-12-01 19.7% 21.3% 17.5% 2009-01-01 20.2% 22.0% 17.5% 2009-02-01 20.9% 22.9% 18.0% 2009-03-01 21.3% 23.5% 18.1% 2009-04-01 21.9% 24.2% 18.6% 2009-05-01 22.4% 24.8% 19.1% 2009-06-01 22.9% 24.9% 20.1% 2009-07-01 23.5% 25.5% 20.6% 2009-08-01 24.4% 26.4% 21.6% 2009-09-01 25.1% 27.1% 22.1% 2009-10-01 25.9% 27.9% 23.2% 2009-11-01 26.6% 28.3% 24.1% 2009-12-01 27.1% 28.9% 24.5% 2010-01-01 27.6% 29.6% 24.6% 2010-02-01 27.8% 29.9% 24.8% 2010-03-01 27.8% 29.9% 24.8% 2010-04-01 28.0% 30.2% 25.0% 2010-05-01 28.1% 30.1% 25.3% 2010-06-01 28.1% 30.4% 24.9% 2010-07-01 28.0% 30.2% 24.9% 2010-08-01 27.8% 30.2% 24.4% 2010-09-01 27.7% 30.1% 24.4% 2010-10-01 27.4% 29.7% 24.1% 2010-11-01 27.2% 29.6% 23.8% 2010-12-01 27.1% 29.4% 23.8% 2011-01-01 26.9% 28.8% 24.2% 2011-02-01 26.6% 28.5% 24.0% 2011-03-01 26.8% 28.6% 24.3% 2011-04-01 26.7% 28.5% 24.1% 2011-05-01 26.5% 28.3% 23.9% 2011-06-01 26.4% 28.2% 23.9% 2011-07-01 26.7% 28.3% 24.4% 2011-08-01 26.6% 28.0% 24.6% 2011-09-01 26.4% 27.9% 24.4% 2011-10-01 26.2% 27.9% 23.9% 2011-11-01 26.3% 27.9% 24.0% 2011-12-01 26.2% 28.0% 23.7% 2012-01-01 26.1% 27.9% 23.5% 2012-02-01 26.1% 27.8% 23.5% 2012-03-01 25.8% 27.7% 23.1% 2012-04-01 25.7% 27.5% 23.3% 2012-05-01 26.0% 27.7% 23.6% 2012-06-01 26.2% 27.8% 23.8% 2012-07-01 25.9% 27.6% 23.5% 2012-08-01 25.9% 27.7% 23.3% 2012-09-01 26.0% 27.8% 23.4% 2012-10-01 26.1% 27.6% 24.0% 2012-11-01 25.9% 27.3% 23.8% 2012-12-01 25.7% 26.8% 24.3% 2013-01-01 25.4% 26.3% 24.0% 2013-02-01 25.2% 25.9% 24.2% 2013-03-01 25.2% 25.7% 24.5% 2013-04-01 25.1% 25.4% 24.7% 2013-05-01 24.8% 25.1% 24.5% 2013-06-01 25.0% 25.3% 24.5% 2013-07-01 24.6% 25.2% 23.9% 2013-08-01 24.8% 25.3% 24.2% 2013-09-01 24.6% 25.1% 23.8% 2013-10-01 24.3% 25.1% 23.3% 2013-11-01 24.0% 24.9% 22.8% 2013-12-01 23.4% 24.3% 22.2% 2014-01-01 23.1% 24.0% 22.0% 2014-02-01 23.0% 24.1% 21.4% 2014-03-01 22.9% 24.1% 21.2% 2014-04-01 22.5% 23.9% 20.5% 2014-05-01 22.0% 23.3% 20.2% 2014-06-01 21.4% 22.5% 19.8% 2014-07-01 21.3% 22.4% 19.7% 2014-08-01 20.6% 21.7% 19.0% 2014-09-01 20.3% 21.3% 18.9% 2014-10-01 20.1% 20.8% 19.0% 2014-11-01 20.0% 20.5% 19.2% 2014-12-01 19.9% 20.6% 19.0% 2015-01-01 19.9% 20.5% 19.0% 2015-02-01 19.8% 20.1% 19.3% 2015-03-01 19.5% 19.6% 19.4% Chart Data Download data The data below can be saved or copied directly into Excel. The data underlying the figure. * Data reflect 12-month moving averages; data for 2015 represent 12-month average from April 2014 to March 2015. Note: Shaded areas denote recessions. Data are for high school graduates age 17–20 who are not enrolled in further schooling. Source: EPI analysis of basic monthly Current Population Survey microdata Share on Facebook Tweet this chart Embed Copy the code below to embed this chart on your website. Download image

As Figure B shows, the unemployment rate of young high school graduates who are not enrolled in additional schooling jumped from 15.9 percent in 2007 to a peak of 28.1 percent in 2010, dwarfing the increases in prior recessions. The rate has since declined to 19.5 percent. The increase between 2007 and 2010 was particularly pronounced for young male high school graduates, from 17.1 percent to 30.4 percent. Men’s unemployment rates tend to disproportionately increase during downturns, in large part because men are more concentrated in industries particularly hard-hit by recessions, such as manufacturing, construction, and transportation. Since 2010, unemployment rates by gender for young high school graduates have become more equal; the latest data show that the unemployment rate was 19.6 percent for young male high school graduates and 19.4 percent for young female high school graduates.

Figure C shows that among young high school graduates, the unemployment rate of racial and ethnic minorities—particularly young non-Hispanic black graduates—tends to be higher than that of white non-Hispanic graduates, in good times and bad. In 2007, the unemployment rate of young white high school graduates age 17–20 who are not enrolled in further schooling was 13.1 percent. It rose to a peak of 25.9 percent in 2010 and has since improved to 17.2 percent. In 2007, the unemployment rate of young black high school graduates was 30.4 percent. It continued on a general upward trend until 2011, when it reached 42.0 percent, and has since declined to 29.7 percent. In 2007, the unemployment rate of young Hispanic high school graduates was 14.3 percent. That rate also rose until 2010, when it reached a peak of 30.0 percent, and has since improved somewhat to 19.5 percent.

Figure C Unemployment rate of young high school graduates, by race/ethnicity, 1989–2015* Date White Black Hispanic 1989-12-01 10.0% 27.8% 15.4% 1990-01-01 9.9% 27.3% 14.4% 1990-02-01 9.9% 26.8% 14.3% 1990-03-01 9.9% 26.4% 14.6% 1990-04-01 9.9% 25.9% 15.0% 1990-05-01 9.9% 25.3% 14.9% 1990-06-01 9.7% 24.3% 14.3% 1990-07-01 9.9% 24.2% 14.1% 1990-08-01 10.0% 24.3% 13.6% 1990-09-01 10.2% 24.1% 13.5% 1990-10-01 10.4% 24.8% 13.2% 1990-11-01 10.5% 25.1% 13.1% 1990-12-01 10.7% 25.9% 13.3% 1991-01-01 10.9% 26.4% 14.0% 1991-02-01 11.4% 27.1% 14.6% 1991-03-01 11.6% 27.7% 14.8% 1991-04-01 11.7% 28.6% 14.7% 1991-05-01 11.9% 29.6% 15.2% 1991-06-01 12.4% 31.0% 15.7% 1991-07-01 12.4% 31.5% 16.8% 1991-08-01 12.6% 32.0% 17.2% 1991-09-01 12.8% 32.1% 17.7% 1991-10-01 12.8% 32.8% 17.6% 1991-11-01 12.9% 32.9% 17.7% 1991-12-01 13.2% 32.6% 17.8% 1992-01-01 13.2% 32.1% 17.9% 1992-02-01 13.2% 32.1% 18.6% 1992-03-01 13.4% 32.1% 18.7% 1992-04-01 13.5% 32.3% 18.7% 1992-05-01 13.7% 32.8% 19.3% 1992-06-01 13.8% 33.0% 20.0% 1992-07-01 13.9% 32.8% 19.9% 1992-08-01 13.9% 32.4% 19.4% 1992-09-01 13.9% 32.8% 19.3% 1992-10-01 13.9% 32.2% 19.7% 1992-11-01 14.0% 31.8% 20.0% 1992-12-01 13.9% 32.4% 20.1% 1993-01-01 13.7% 32.8% 20.2% 1993-02-01 13.6% 32.9% 19.3% 1993-03-01 13.4% 33.8% 19.4% 1993-04-01 13.4% 34.0% 20.3% 1993-05-01 13.4% 33.4% 19.7% 1993-06-01 13.2% 32.8% 19.0% 1993-07-01 13.0% 32.7% 18.5% 1993-08-01 13.1% 32.3% 18.6% 1993-09-01 12.9% 31.8% 18.5% 1993-10-01 13.0% 31.3% 19.2% 1993-11-01 12.8% 32.2% 19.2% 1993-12-01 12.7% 32.2% 19.5% 1994-01-01 12.7% 32.1% 19.2% 1994-02-01 12.7% 31.8% 19.1% 1994-03-01 12.9% 31.2% 19.1% 1994-04-01 12.6% 30.7% 18.8% 1994-05-01 12.2% 31.4% 18.0% 1994-06-01 12.0% 31.3% 18.3% 1994-07-01 12.0% 31.1% 18.5% 1994-08-01 11.6% 31.9% 18.4% 1994-09-01 11.7% 31.9% 18.4% 1994-10-01 11.4% 32.3% 17.6% 1994-11-01 11.3% 31.1% 17.4% 1994-12-01 11.1% 31.1% 17.4% 1995-01-01 11.0% 31.7% 17.1% 1995-02-01 10.5% 31.7% 16.9% 1995-03-01 10.4% 31.0% 16.2% 1995-04-01 10.6% 30.8% 15.6% 1995-05-01 10.9% 29.4% 16.2% 1995-06-01 11.1% 29.2% 16.2% 1995-07-01 11.2% 29.9% 15.4% 1995-08-01 11.2% 30.3% 15.5% 1995-09-01 11.4% 31.5% 15.4% 1995-10-01 11.5% 31.2% 15.8% 1995-11-01 11.6% 31.2% 15.9% 1995-12-01 11.7% 30.7% 16.5% 1996-01-01 11.8% 30.3% 17.8% 1996-02-01 12.0% 29.8% 18.3% 1996-03-01 12.0% 29.7% 18.8% 1996-04-01 11.8% 29.7% 19.0% 1996-05-01 11.7% 30.1% 19.1% 1996-06-01 11.5% 29.9% 18.5% 1996-07-01 11.4% 29.9% 19.0% 1996-08-01 11.4% 29.5% 18.6% 1996-09-01 11.5% 29.0% 19.0% 1996-10-01 11.6% 29.6% 19.1% 1996-11-01 11.6% 29.2% 19.9% 1996-12-01 11.6% 29.8% 19.8% 1997-01-01 11.9% 29.9% 18.7% 1997-02-01 11.9% 30.5% 18.4% 1997-03-01 11.7% 30.6% 17.8% 1997-04-01 11.7% 30.6% 17.6% 1997-05-01 11.4% 30.4% 17.0% 1997-06-01 11.6% 30.5% 16.5% 1997-07-01 11.5% 29.3% 17.0% 1997-08-01 11.4% 28.8% 17.4% 1997-09-01 11.3% 28.1% 16.8% 1997-10-01 11.1% 27.9% 16.6% 1997-11-01 10.9% 29.0% 15.4% 1997-12-01 10.8% 28.2% 14.4% 1998-01-01 10.5% 27.9% 14.3% 1998-02-01 10.5% 27.0% 14.3% 1998-03-01 10.5% 26.2% 14.8% 1998-04-01 10.4% 25.5% 14.6% 1998-05-01 10.5% 25.5% 15.1% 1998-06-01 10.2% 25.0% 15.5% 1998-07-01 10.1% 25.2% 14.5% 1998-08-01 10.0% 25.3% 14.4% 1998-09-01 9.9% 25.3% 15.6% 1998-10-01 9.9% 25.0% 15.2% 1998-11-01 9.9% 24.0% 15.6% 1998-12-01 9.7% 23.7% 15.7% 1999-01-01 9.8% 23.7% 15.4% 1999-02-01 9.6% 24.3% 15.0% 1999-03-01 9.4% 24.9% 14.6% 1999-04-01 9.4% 25.4% 14.5% 1999-05-01 9.4% 24.7% 14.4% 1999-06-01 9.3% 24.3% 14.1% 1999-07-01 9.3% 24.4% 14.2% 1999-08-01 9.2% 24.1% 14.2% 1999-09-01 9.2% 24.2% 13.6% 1999-10-01 9.2% 24.5% 13.4% 1999-11-01 9.1% 25.4% 13.1% 1999-12-01 9.2% 24.8% 13.8% 2000-01-01 9.2% 24.3% 13.9% 2000-02-01 9.3% 23.6% 13.5% 2000-03-01 9.5% 24.0% 13.3% 2000-04-01 9.5% 23.9% 12.9% 2000-05-01 9.6% 24.2% 12.4% 2000-06-01 9.6% 24.2% 12.7% 2000-07-01 9.6% 24.0% 12.5% 2000-08-01 9.7% 24.2% 12.5% 2000-09-01 9.5% 23.6% 11.9% 2000-10-01 9.6% 23.1% 11.5% 2000-11-01 9.8% 22.1% 11.6% 2000-12-01 9.8% 22.7% 11.4% 2001-01-01 9.8% 22.7% 11.4% 2001-02-01 9.8% 22.7% 11.7% 2001-03-01 9.9% 22.2% 12.1% 2001-04-01 9.8% 22.6% 12.7% 2001-05-01 9.7% 21.8% 12.6% 2001-06-01 9.8% 22.4% 12.4% 2001-07-01 10.0% 22.1% 13.3% 2001-08-01 10.2% 22.3% 13.7% 2001-09-01 10.6% 23.5% 14.1% 2001-10-01 10.8% 23.7% 15.3% 2001-11-01 10.8% 25.6% 15.6% 2001-12-01 11.0% 26.8% 15.5% 2002-01-01 11.2% 27.5% 15.6% 2002-02-01 11.5% 28.2% 15.4% 2002-03-01 11.9% 28.4% 15.2% 2002-04-01 12.4% 28.4% 14.9% 2002-05-01 12.8% 28.5% 15.4% 2002-06-01 13.1% 28.7% 15.8% 2002-07-01 13.6% 29.2% 15.3% 2002-08-01 13.8% 29.8% 15.5% 2002-09-01 13.8% 29.8% 15.5% 2002-10-01 13.8% 30.1% 15.4% 2002-11-01 14.0% 29.3% 15.3% 2002-12-01 14.1% 28.3% 15.1% 2003-01-01 14.1% 28.7% 15.6% 2003-02-01 14.1% 28.9% 15.9% 2003-03-01 13.9% 29.2% 16.3% 2003-04-01 13.8% 29.7% 16.6% 2003-05-01 13.7% 31.4% 16.7% 2003-06-01 13.9% 31.7% 16.8% 2003-07-01 13.7% 32.1% 17.4% 2003-08-01 13.8% 31.7% 17.0% 2003-09-01 13.8% 31.7% 17.1% 2003-10-01 13.9% 32.0% 16.7% 2003-11-01 14.1% 32.1% 16.9% 2003-12-01 14.1% 32.5% 17.5% 2004-01-01 14.1% 31.7% 17.1% 2004-02-01 14.0% 31.0% 17.4% 2004-03-01 14.1% 30.9% 17.9% 2004-04-01 14.1% 30.7% 17.9% 2004-05-01 14.2% 29.7% 17.9% 2004-06-01 13.9% 29.2% 17.7% 2004-07-01 13.8% 29.6% 17.3% 2004-08-01 13.7% 28.8% 17.6% 2004-09-01 13.8% 28.2% 17.9% 2004-10-01 13.7% 27.6% 18.2% 2004-11-01 13.3% 27.9% 18.0% 2004-12-01 13.3% 27.6% 17.1% 2005-01-01 13.2% 28.0% 17.0% 2005-02-01 13.4% 28.5% 16.8% 2005-03-01 13.4% 28.7% 16.7% 2005-04-01 13.4% 28.6% 16.5% 2005-05-01 13.2% 29.3% 16.8% 2005-06-01 13.4% 29.7% 16.8% 2005-07-01 13.5% 28.9% 16.3% 2005-08-01 13.8% 29.7% 16.3% 2005-09-01 13.7% 30.0% 16.0% 2005-10-01 13.7% 29.5% 15.9% 2005-11-01 13.4% 29.3% 15.8% 2005-12-01 13.0% 29.0% 16.1% 2006-01-01 13.1% 29.2% 16.4% 2006-02-01 12.8% 29.2% 16.3% 2006-03-01 12.9% 28.3% 15.6% 2006-04-01 13.0% 28.2% 15.4% 2006-05-01 13.2% 27.3% 14.9% 2006-06-01 12.9% 26.5% 14.8% 2006-07-01 12.8% 27.0% 14.6% 2006-08-01 12.7% 27.0% 13.9% 2006-09-01 12.8% 27.3% 13.5% 2006-10-01 13.0% 27.7% 12.9% 2006-11-01 13.4% 27.4% 12.5% 2006-12-01 13.7% 28.2% 12.2% 2007-01-01 13.6% 28.0% 12.0% 2007-02-01 13.4% 27.6% 11.9% 2007-03-01 13.3% 27.7% 11.7% 2007-04-01 13.2% 28.1% 11.3% 2007-05-01 13.0% 28.7% 11.5% 2007-06-01 13.2% 30.1% 11.5% 2007-07-01 13.0% 30.0% 12.5% 2007-08-01 13.1% 30.0% 13.0% 2007-09-01 13.1% 29.5% 13.0% 2007-10-01 13.0% 29.6% 13.5% 2007-11-01 13.0% 29.5% 13.7% 2007-12-01 13.1% 30.4% 14.3% 2008-01-01 13.5% 30.5% 14.4% 2008-02-01 13.9% 31.0% 14.4% 2008-03-01 14.3% 31.7% 14.9% 2008-04-01 14.3% 31.1% 16.0% 2008-05-01 14.7% 31.1% 16.3% 2008-06-01 15.0% 30.4% 16.4% 2008-07-01 15.6% 30.8% 16.7% 2008-08-01 15.8% 30.8% 17.3% 2008-09-01 16.0% 30.9% 18.1% 2008-10-01 16.4% 30.8% 18.7% 2008-11-01 17.1% 30.2% 19.6% 2008-12-01 17.7% 28.7% 19.5% 2009-01-01 18.0% 29.4% 19.9% 2009-02-01 18.6% 30.8% 20.6% 2009-03-01 18.7% 31.5% 21.1% 2009-04-01 19.2% 32.9% 21.3% 2009-05-01 19.4% 33.9% 22.5% 2009-06-01 19.7% 34.4% 23.4% 2009-07-01 20.4% 34.3% 23.9% 2009-08-01 21.5% 34.7% 24.6% 2009-09-01 22.2% 36.0% 25.0% 2009-10-01 23.1% 37.4% 25.6% 2009-11-01 23.6% 39.3% 25.9% 2009-12-01 23.8% 40.0% 27.3% 2010-01-01 24.4% 39.9% 28.5% 2010-02-01 24.7% 38.8% 29.2% 2010-03-01 24.9% 37.4% 29.7% 2010-04-01 25.4% 36.5% 29.9% 2010-05-01 25.8% 35.5% 29.6% 2010-06-01 25.9% 35.1% 29.9% 2010-07-01 25.5% 35.5% 30.0% 2010-08-01 25.1% 36.0% 29.6% 2010-09-01 24.9% 36.9% 29.3% 2010-10-01 24.4% 36.7% 29.4% 2010-11-01 24.1% 36.6% 29.3% 2010-12-01 24.0% 37.0% 28.7% 2011-01-01 23.7% 37.6% 28.4% 2011-02-01 23.2% 37.5% 28.4% 2011-03-01 23.3% 38.4% 28.4% 2011-04-01 23.0% 39.3% 28.3% 2011-05-01 22.7% 40.2% 28.0% 2011-06-01 22.3% 41.2% 27.6% 2011-07-01 22.6% 41.7% 27.8% 2011-08-01 22.1% 42.0% 28.6% 2011-09-01 22.0% 40.8% 28.6% 2011-10-01 22.0% 40.5% 28.5% 2011-11-01 21.7% 40.8% 29.1% 2011-12-01 21.3% 41.2% 29.1% 2012-01-01 21.4% 41.0% 28.8% 2012-02-01 21.4% 41.4% 28.3% 2012-03-01 21.3% 41.4% 27.7% 2012-04-01 21.4% 40.9% 27.1% 2012-05-01 21.7% 40.8% 27.7% 2012-06-01 21.9% 40.7% 28.1% 2012-07-01 21.7% 40.2% 27.3% 2012-08-01 22.0% 39.9% 26.6% 2012-09-01 22.2% 40.5% 26.5% 2012-10-01 22.4% 40.9% 26.7% 2012-11-01 22.0% 40.7% 26.2% 2012-12-01 22.0% 39.6% 26.5% 2013-01-01 21.9% 38.1% 26.1% 2013-02-01 21.8% 37.8% 25.8% 2013-03-01 21.8% 37.6% 26.0% 2013-04-01 21.6% 37.8% 26.2% 2013-05-01 21.4% 38.5% 24.9% 2013-06-01 21.7% 39.3% 24.2% 2013-07-01 21.3% 39.2% 24.1% 2013-08-01 21.4% 39.3% 24.5% 2013-09-01 21.0% 38.0% 25.2% 2013-10-01 20.8% 36.8% 24.9% 2013-11-01 20.9% 35.7% 24.5% 2013-12-01 20.4% 35.4% 23.8% 2014-01-01 19.9% 35.7% 23.6% 2014-02-01 19.7% 35.1% 23.2% 2014-03-01 19.4% 34.7% 23.2% 2014-04-01 19.1% 33.5% 22.8% 2014-05-01 18.9% 31.6% 22.7% 2014-06-01 18.3% 30.2% 22.6% 2014-07-01 18.4% 29.9% 22.8% 2014-08-01 18.0% 28.8% 21.4% 2014-09-01 17.8% 28.9% 20.7% 2014-10-01 17.6% 29.6% 20.3% 2014-11-01 17.4% 30.3% 20.0% 2014-12-01 17.4% 30.4% 19.7% 2015-01-01 17.4% 30.3% 19.6% 2015-02-01 17.3% 30.1% 19.8% 2015-03-01 17.2% 29.7% 19.5% Chart Data Download data The data below can be saved or copied directly into Excel. The data underlying the figure. * Data reflect 12-month moving averages; data for 2015 represent 12-month average from April 2014 to March 2015. Note: Shaded areas denote recessions. Data are for high school graduates age 17–20 who are not enrolled in further schooling. Race/ethnicity categories are mutually exclusive (i.e., white non-Hispanic, black non-Hispanic, and Hispanic any race). Source: EPI analysis of basic monthly Current Population Survey microdata Share on Facebook Tweet this chart Embed Copy the code below to embed this chart on your website. Download image

It’s interesting to note that black high school graduates are the only group to have dipped below their prerecession unemployment rate. Of course, black graduates had remarkably high unemployment rates before the Great Recession. Following the 2000 recession, their unemployment rate never really improved. Today, they are still much more likely to be unemployed than their Hispanic and white peers, 1.5 and 1.7 times, respectively.

Further, the unemployment rate may understate continued weakness in the labor market. A more comprehensive measure of labor market slack than the unemployment rate is the “underemployment rate” (officially, the U-6 measure of labor underutilization). In addition to the unemployed (jobless workers who report that they are actively seeking work), the underemployment rate also includes those who work part time but want full-time work (“involuntary” part timers), and those who want a job and have looked for work in the last year but have given up actively seeking work in the last four weeks (“marginally attached” workers).

Figure D presents data on both unemployment and underemployment among young high school graduates (those age 17–20 who are not enrolled in further schooling). Currently, while the unemployment rate of young high school graduates is 19.5 percent, their underemployment rate is 37.0 percent. In other words, in addition to the officially unemployed, a significant share of young people either want a job but have simply given up actively looking for work (i.e., they are marginally attached), or have a job that does not provide the hours they need (i.e., they are part time for economic reasons). Underemployment remains particularly elevated compared with its prerecession level, which has caused the ratio of the underemployment to unemployment rate to be near the highest it’s ever been for young high school graduates, at 1.9. The wide gap between unemployment and underemployment suggests that a lack of job opportunities is either forcing young people to drop out of the labor force or take part-time jobs when they’re looking for full-time jobs. While state breakdowns of underemployment by educational attainment are not available, Appendix Table A2 shows state-level underemployment rates of all workers by age.

Figure D Unemployment and underemployment rates of young high school graduates, 1994–2015* Date Unemployment Underemployment 1994-12-01 14.6% 28.1% 1995-01-01 14.5% 27.9% 1995-02-01 14.1% 27.6% 1995-03-01 13.9% 27.4% 1995-04-01 14.0% 27.4% 1995-05-01 14.0% 27.3% 1995-06-01 14.2% 27.3% 1995-07-01 14.3% 27.4% 1995-08-01 14.4% 27.2% 1995-09-01 14.6% 27.4% 1995-10-01 14.7% 27.2% 1995-11-01 14.9% 27.3% 1995-12-01 15.0% 27.4% 1996-01-01 15.4% 27.5% 1996-02-01 15.5% 27.4% 1996-03-01 15.6% 27.4% 1996-04-01 15.5% 27.2% 1996-05-01 15.5% 27.2% 1996-06-01 15.2% 26.9% 1996-07-01 15.1% 26.9% 1996-08-01 15.1% 27.0% 1996-09-01 15.1% 27.1% 1996-10-01 15.4% 27.4% 1996-11-01 15.4% 27.1% 1996-12-01 15.4% 27.2% 1997-01-01 15.4% 27.3% 1997-02-01 15.5% 27.5% 1997-03-01 15.3% 27.4% 1997-04-01 15.4% 27.5% 1997-05-01 15.1% 27.0% 1997-06-01 15.2% 26.8% 1997-07-01 15.0% 26.3% 1997-08-01 15.0% 26.1% 1997-09-01 14.7% 25.9% 1997-10-01 14.4% 25.5% 1997-11-01 14.3% 25.3% 1997-12-01 14.0% 25.0% 1998-01-01 13.7% 24.5% 1998-02-01 13.6% 24.2% 1998-03-01 13.5% 23.9% 1998-04-01 13.2% 23.7% 1998-05-01 13.3% 24.1% 1998-06-01 13.1% 23.9% 1998-07-01 12.9% 23.7% 1998-08-01 12.9% 23.4% 1998-09-01 13.0% 23.4% 1998-10-01 12.9% 23.1% 1998-11-01 12.8% 23.1% 1998-12-01 12.6% 22.8% 1999-01-01 12.6% 22.7% 1999-02-01 12.6% 22.7% 1999-03-01 12.5% 22.7% 1999-04-01 12.6% 22.6% 1999-05-01 12.4% 22.2% 1999-06-01 12.2% 22.1% 1999-07-01 12.2% 22.0% 1999-08-01 12.1% 21.9% 1999-09-01 12.0% 21.8% 1999-10-01 12.0% 21.7% 1999-11-01 12.1% 21.8% 1999-12-01 12.3% 21.7% 2000-01-01 12.2% 21.6% 2000-02-01 12.1% 21.3% 2000-03-01 12.3% 21.3% 2000-04-01 12.3% 21.2% 2000-05-01 12.3% 21.4% 2000-06-01 12.4% 21.3% 2000-07-01 12.3% 21.2% 2000-08-01 12.4% 21.2% 2000-09-01 12.2% 20.9% 2000-10-01 12.0% 20.9% 2000-11-01 12.1% 20.8% 2000-12-01 12.1% 20.8% 2001-01-01 12.2% 20.9% 2001-02-01 12.2% 21.1% 2001-03-01 12.1% 21.0% 2001-04-01 12.2% 21.1% 2001-05-01 11.9% 20.7% 2001-06-01 12.0% 20.9% 2001-07-01 12.3% 21.1% 2001-08-01 12.5% 21.3% 2001-09-01 12.9% 22.0% 2001-10-01 13.3% 22.5% 2001-11-01 13.6% 23.2% 2001-12-01 13.9% 23.8% 2002-01-01 14.2% 24.1% 2002-02-01 14.5% 24.5% 2002-03-01 14.9% 25.1% 2002-04-01 15.2% 25.4% 2002-05-01 15.6% 25.9% 2002-06-01 16.0% 26.3% 2002-07-01 16.3% 27.0% 2002-08-01 16.6% 27.4% 2002-09-01 16.5% 27.6% 2002-10-01 16.5% 27.5% 2002-11-01 16.6% 27.5% 2002-12-01 16.4% 27.2% 2003-01-01 16.6% 27.5% 2003-02-01 16.6% 27.8% 2003-03-01 16.6% 27.9% 2003-04-01 16.6% 27.9% 2003-05-01 16.8% 28.2% 2003-06-01 17.0% 28.5% 2003-07-01 17.1% 28.9% 2003-08-01 17.1% 28.9% 2003-09-01 17.2% 29.0% 2003-10-01 17.4% 29.5% 2003-11-01 17.6% 29.6% 2003-12-01 17.6% 29.8% 2004-01-01 17.5% 29.6% 2004-02-01 17.3% 29.5% 2004-03-01 17.4% 29.8% 2004-04-01 17.4% 29.8% 2004-05-01 17.3% 29.8% 2004-06-01 17.0% 29.7% 2004-07-01 16.8% 29.1% 2004-08-01 16.6% 28.9% 2004-09-01 16.6% 28.6% 2004-10-01 16.4% 28.4% 2004-11-01 16.1% 28.3% 2004-12-01 16.0% 28.1% 2005-01-01 16.0% 27.8% 2005-02-01 16.2% 27.8% 2005-03-01 16.1% 27.7% 2005-04-01 16.1% 27.7% 2005-05-01 16.1% 27.6% 2005-06-01 16.2% 27.7% 2005-07-01 16.1% 27.7% 2005-08-01 16.4% 27.9% 2005-09-01 16.4% 27.8% 2005-10-01 16.3% 27.6% 2005-11-01 16.2% 27.4% 2005-12-01 15.9% 27.1% 2006-01-01 16.0% 27.1% 2006-02-01 15.9% 26.9% 2006-03-01 15.7% 26.6% 2006-04-01 15.8% 26.5% 2006-05-01 15.7% 26.4% 2006-06-01 15.4% 26.1% 2006-07-01 15.5% 26.1% 2006-08-01 15.4% 26.0% 2006-09-01 15.5% 26.1% 2006-10-01 15.5% 26.5% 2006-11-01 15.5% 26.4% 2006-12-01 15.8% 26.9% 2007-01-01 15.6% 26.9% 2007-02-01 15.4% 26.9% 2007-03-01 15.3% 27.0% 2007-04-01 15.2% 27.0% 2007-05-01 15.2% 26.9% 2007-06-01 15.5% 27.0% 2007-07-01 15.5% 27.0% 2007-08-01 15.6% 26.9% 2007-09-01 15.5% 26.7% 2007-10-01 15.5% 26.5% 2007-11-01 15.5% 26.5% 2007-12-01 15.9% 26.8% 2008-01-01 16.1% 27.1% 2008-02-01 16.4% 27.5% 2008-03-01 16.9% 28.0% 2008-04-01 16.9% 28.4% 2008-05-01 17.2% 28.9% 2008-06-01 17.4% 29.7% 2008-07-01 18.0% 30.6% 2008-08-01 18.2% 31.0% 2008-09-01 18.6% 31.7% 2008-10-01 19.0% 32.5% 2008-11-01 19.5% 33.4% 2008-12-01 19.7% 34.1% 2009-01-01 20.2% 34.9% 2009-02-01 20.9% 35.8% 2009-03-01 21.3% 36.7% 2009-04-01 21.9% 37.6% 2009-05-01 22.4% 38.5% 2009-06-01 22.9% 39.3% 2009-07-01 23.5% 40.5% 2009-08-01 24.4% 41.9% 2009-09-01 25.1% 43.0% 2009-10-01 25.9% 44.1% 2009-11-01 26.6% 44.8% 2009-12-01 27.1% 45.4% 2010-01-01 27.6% 46.0% 2010-02-01 27.8% 46.5% 2010-03-01 27.8% 46.5% 2010-04-01 28.0% 46.7% 2010-05-01 28.1% 46.8% 2010-06-01 28.1% 46.8% 2010-07-01 28.0% 46.5% 2010-08-01 27.8% 46.6% 2010-09-01 27.7% 46.6% 2010-10-01 27.4% 46.3% 2010-11-01 27.2% 46.6% 2010-12-01 27.1% 46.6% 2011-01-01 26.9% 46.6% 2011-02-01 26.6% 46.3% 2011-03-01 26.8% 46.4% 2011-04-01 26.7% 46.4% 2011-05-01 26.5% 46.5% 2011-06-01 26.4% 46.5% 2011-07-01 26.7% 47.2% 2011-08-01 26.6% 47.0% 2011-09-01 26.4% 46.8% 2011-10-01 26.2% 46.6% 2011-11-01 26.3% 46.3% 2011-12-01 26.2% 46.1% 2012-01-01 26.1% 45.8% 2012-02-01 26.1% 45.7% 2012-03-01 25.8% 45.2% 2012-04-01 25.7% 44.9% 2012-05-01 26.0% 44.9% 2012-06-01 26.2% 44.8% 2012-07-01 25.9% 44.2% 2012-08-01 25.9% 44.2% 2012-09-01 26.0% 44.3% 2012-10-01 26.1% 44.4% 2012-11-01 25.9% 44.3% 2012-12-01 25.7% 44.2% 2013-01-01 25.4% 43.9% 2013-02-01 25.2% 43.7% 2013-03-01 25.2% 43.8% 2013-04-01 25.1% 43.8% 2013-05-01 24.8% 43.7% 2013-06-01 25.0% 43.9% 2013-07-01 24.6% 43.6% 2013-08-01 24.8% 43.5% 2013-09-01 24.6% 43.1% 2013-10-01 24.3% 42.7% 2013-11-01 24.0% 42.4% 2013-12-01 23.4% 41.9% 2014-01-01 23.1% 41.7% 2014-02-01 23.0% 41.7% 2014-03-01 22.9% 41.5% 2014-04-01 22.5% 41.1% 2014-05-01 22.0% 40.6% 2014-06-01 21.4% 40.1% 2014-07-01 21.3% 40.0% 2014-08-01 20.6% 39.5% 2014-09-01 20.3% 39.1% 2014-10-01 20.1% 38.7% 2014-11-01 20.0% 38.5% 2014-12-01 19.9% 38.0% 2015-01-01 19.9% 37.7% 2015-02-01 19.8% 37.3% 2015-03-01 19.5% 37.0% Chart Data Download data The data below can be saved or copied directly into Excel. The data underlying the figure. * Data reflect 12-month moving averages; data for 2015 represent 12-month average from April 2014 to March 2015. Note: Shaded areas denote recessions. Underemployment data are only available beginning in 1994. Data are for high school graduates age 17–20 who are not enrolled in further schooling. Source: EPI analysis of basic monthly Current Population Survey microdata Share on Facebook Tweet this chart Embed Copy the code below to embed this chart on your website. Download image

Young college graduates also face a tough labor market

By attending and finishing college, young college graduates have made a significant down payment on their career in terms of both time and money, and they typically have very high labor force participation. And because a college degree affords more opportunities in the labor market—not least of which is the fact that college graduates are often more competitive relative to non–college graduates when it comes to landing jobs not requiring a college degree—unemployment among young workers with a college degree is substantially lower than among other young workers. However, young college graduates’ job prospects have deteriorated dramatically since the start of the Great Recession. In this section we examine the labor market outcomes of college graduates between age 21 and 24 who do not have an advanced degree and are not enrolled in additional schooling.

Figure E shows that the unemployment rate of young college graduates jumped between 2007 and 2011 from 5.5 percent to a peak of 9.9 percent, dwarfing the increases in prior recessions. It declined somewhat between 2011 and 2012, primarily due to young college graduates either dropping out of, or never entering, the labor force because job opportunities were so weak. In 2013, some of the 2011–2012 trends reversed: The unemployment rate increased modestly because the share of young college graduates actively looking for a job increased. The unemployment rate of young college graduates has since decreased due to stronger job growth in 2014, and now sits at 7.2 percent. However, it remains significantly elevated, especially in a historical context, and the Class of 2015 will join a sizable backlog of unemployed college graduates from the last six graduating classes (the classes of 2009–2014) in a difficult job market.

Figure E Unemployment rate of young college graduates, by gender, 1989–2015* Date All Men Women 1989-12-01 4.9% 6.0% 4.1% 1990-01-01 4.8% 5.9% 4.0% 1990-02-01 4.8% 5.8% 4.0% 1990-03-01 4.8% 5.7% 4.1% 1990-04-01 4.8% 5.5% 4.3% 1990-05-01 4.9% 5.6% 4.4% 1990-06-01 4.9% 5.5% 4.4% 1990-07-01 5.1% 5.6% 4.6% 1990-08-01 5.3% 5.8% 4.8% 1990-09-01 5.2% 5.7% 4.9% 1990-10-01 5.3% 5.8% 5.0% 1990-11-01 5.2% 5.6% 5.0% 1990-12-01 5.3% 5.5% 5.0% 1991-01-01 5.5% 5.8% 5.3% 1991-02-01 5.8% 6.1% 5.6% 1991-03-01 6.0% 6.4% 5.6% 1991-04-01 6.0% 6.6% 5.4% 1991-05-01 5.9% 6.4% 5.6% 1991-06-01 6.1% 6.7% 5.5% 1991-07-01 6.3% 6.8% 5.8% 1991-08-01 6.3% 6.9% 5.8% 1991-09-01 6.4% 7.2% 5.9% 1991-10-01 6.5% 7.2% 6.0% 1991-11-01 6.7% 7.4% 6.1% 1991-12-01 6.9% 7.9% 6.2% 1992-01-01 6.8% 7.8% 6.1% 1992-02-01 6.8% 7.9% 5.9% 1992-03-01 6.9% 8.0% 6.0% 1992-04-01 6.9% 7.9% 6.0% 1992-05-01 7.0% 8.2% 6.1% 1992-06-01 7.0% 7.9% 6.3% 1992-07-01 7.0% 8.0% 6.1% 1992-08-01 7.1% 8.1% 6.3% 1992-09-01 7.0% 8.0% 6.3% 1992-10-01 6.9% 7.8% 6.1% 1992-11-01 6.8% 7.7% 6.1% 1992-12-01 6.6% 7.4% 6.0% 1993-01-01 6.6% 7.4% 5.9% 1993-02-01 6.6% 7.4% 6.0% 1993-03-01 6.6% 7.5% 5.9% 1993-04-01 6.8% 7.6% 6.1% 1993-05-01 6.7% 7.7% 5.9% 1993-06-01 6.5% 7.6% 5.7% 1993-07-01 6.5% 7.5% 5.6% 1993-08-01 6.4% 7.5% 5.5% 1993-09-01 6.3% 7.5% 5.4% 1993-10-01 6.2% 7.3% 5.3% 1993-11-01 6.1% 7.3% 5.3% 1993-12-01 6.1% 7.5% 5.1% 1994-01-01 6.1% 7.5% 5.1% 1994-02-01 5.9% 7.2% 4.9% 1994-03-01 5.6% 6.8% 4.7% 1994-04-01 5.5% 6.6% 4.7% 1994-05-01 5.3% 6.4% 4.5% 1994-06-01 5.3% 6.7% 4.3% 1994-07-01 5.4% 6.7% 4.3% 1994-08-01 5.4% 6.5% 4.5% 1994-09-01 5.4% 6.4% 4.6% 1994-10-01 5.4% 6.3% 4.7% 1994-11-01 5.4% 6.2% 4.7% 1994-12-01 5.3% 5.9% 4.8% 1995-01-01 5.3% 5.9% 4.9% 1995-02-01 5.5% 6.2% 5.0% 1995-03-01 5.6% 6.3% 5.1% 1995-04-01 5.7% 6.7% 5.0% 1995-05-01 5.8% 6.8% 5.0% 1995-06-01 5.8% 6.6% 5.2% 1995-07-01 5.6% 6.2% 5.2% 1995-08-01 5.6% 6.3% 5.0% 1995-09-01 5.7% 6.4% 5.0% 1995-10-01 5.7% 6.5% 5.0% 1995-11-01 5.8% 6.6% 5.1% 1995-12-01 5.8% 6.8% 5.1% 1996-01-01 5.8% 6.8% 5.1% 1996-02-01 5.7% 6.6% 5.0% 1996-03-01 5.9% 6.8% 5.2% 1996-04-01 5.7% 6.4% 5.2% 1996-05-01 5.8% 6.4% 5.4% 1996-06-01 6.0% 6.6% 5.5% 1996-07-01 6.1% 6.8% 5.6% 1996-08-01 6.1% 6.9% 5.6% 1996-09-01 6.0% 6.9% 5.4% 1996-10-01 5.8% 6.7% 5.2% 1996-11-01 5.7% 6.7% 5.0% 1996-12-01 5.5% 6.5% 4.8% 1997-01-01 5.4% 6.3% 4.8% 1997-02-01 5.4% 6.3% 4.7% 1997-03-01 5.2% 5.9% 4.6% 1997-04-01 5.1% 5.9% 4.6% 1997-05-01 4.9% 5.5% 4.4% 1997-06-01 4.6% 5.3% 4.0% 1997-07-01 4.2% 5.1% 3.5% 1997-08-01 4.2% 5.1% 3.5% 1997-09-01 4.0% 4.7% 3.4% 1997-10-01 3.9% 4.5% 3.4% 1997-11-01 3.7% 4.0% 3.4% 1997-12-01 3.8% 4.2% 3.5% 1998-01-01 3.7% 4.0% 3.5% 1998-02-01 3.6% 3.7% 3.4% 1998-03-01 3.4% 3.7% 3.2% 1998-04-01 3.4% 3.7% 3.2% 1998-05-01 3.6% 4.0% 3.2% 1998-06-01 3.7% 4.2% 3.4% 1998-07-01 4.0% 4.4% 3.7% 1998-08-01 4.0% 4.3% 3.9% 1998-09-01 4.2% 4.4% 4.0% 1998-10-01 4.2% 4.6% 4.0% 1998-11-01 4.4% 4.7% 4.1% 1998-12-01 4.4% 4.6% 4.2% 1999-01-01 4.3% 4.7% 4.1% 1999-02-01 4.4% 4.9% 4.1% 1999-03-01 4.5% 5.0% 4.1% 1999-04-01 4.5% 5.2% 4.0% 1999-05-01 4.5% 5.2% 4.0% 1999-06-01 4.7% 5.5% 4.1% 1999-07-01 4.8% 5.7% 4.2% 1999-08-01 4.7% 5.5% 4.1% 1999-09-01 4.7% 5.6% 4.1% 1999-10-01 5.0% 5.9% 4.4% 1999-11-01 5.0% 6.0% 4.3% 1999-12-01 5.0% 6.2% 4.2% 2000-01-01 5.1% 6.1% 4.4% 2000-02-01 5.2% 6.1% 4.5% 2000-03-01 5.4% 6.2% 4.9% 2000-04-01 5.4% 6.0% 5.1% 2000-05-01 5.4% 5.9% 5.1% 2000-06-01 5.3% 5.4% 5.2% 2000-07-01 5.0% 4.8% 5.2% 2000-08-01 4.9% 4.7% 5.0% 2000-09-01 4.7% 4.5% 4.8% 2000-10-01 4.5% 4.3% 4.6% 2000-11-01 4.4% 4.2% 4.5% 2000-12-01 4.3% 4.1% 4.4% 2001-01-01 4.3% 4.3% 4.3% 2001-02-01 4.2% 4.3% 4.1% 2001-03-01 4.1% 4.3% 3.9% 2001-04-01 4.1% 4.3% 3.9% 2001-05-01 4.1% 4.3% 4.0% 2001-06-01 4.2% 4.5% 4.0% 2001-07-01 4.3% 5.0% 3.9% 2001-08-01 4.9% 5.5% 4.5% 2001-09-01 5.4% 6.3% 4.8% 2001-10-01 5.5% 6.5% 4.9% 2001-11-01 5.8% 6.9% 5.0% 2001-12-01 5.9% 7.1% 5.1% 2002-01-01 5.9% 7.1% 5.1% 2002-02-01 6.1% 7.4% 5.2% 2002-03-01 6.2% 7.5% 5.3% 2002-04-01 6.3% 7.5% 5.4% 2002-05-01 6.3% 7.6% 5.3% 2002-06-01 6.2% 7.6% 5.3% 2002-07-01 6.3% 7.5% 5.4% 2002-08-01 6.1% 7.5% 5.0% 2002-09-01 5.8% 7.0% 5.0% 2002-10-01 5.9% 7.0% 5.1% 2002-11-01 5.7% 6.6% 5.1% 2002-12-01 5.7% 6.7% 5.1% 2003-01-01 6.0% 6.8% 5.4% 2003-02-01 6.0% 6.7% 5.4% 2003-03-01 6.1% 7.0% 5.4% 2003-04-01 6.1% 7.3% 5.3% 2003-05-01 6.1% 7.3% 5.3% 2003-06-01 6.2% 7.3% 5.4% 2003-07-01 6.3% 7.4% 5.6% 2003-08-01 6.4% 7.2% 5.7% 2003-09-01 6.2% 7.3% 5.5% 2003-10-01 6.4% 7.4% 5.6% 2003-11-01 6.5% 7.4% 5.8% 2003-12-01 6.4% 7.3% 5.8% 2004-01-01 6.3% 7.1% 5.6% 2004-02-01 6.2% 7.2% 5.5% 2004-03-01 6.3% 7.2% 5.7% 2004-04-01 6.3% 6.9% 5.8% 2004-05-01 6.1% 6.7% 5.7% 2004-06-01 6.2% 6.8% 5.8% 2004-07-01 6.0% 6.7% 5.4% 2004-08-01 5.7% 6.5% 5.1% 2004-09-01 5.7% 6.2% 5.3% 2004-10-01 5.6% 6.0% 5.2% 2004-11-01 5.7% 6.3% 5.3% 2004-12-01 5.9% 6.5% 5.5% 2005-01-01 6.1% 6.7% 5.6% 2005-02-01 6.1% 6.6% 5.7% 2005-03-01 5.9% 6.4% 5.5% 2005-04-01 5.9% 6.5% 5.5% 2005-05-01 6.0% 6.6% 5.6% 2005-06-01 5.7% 6.3% 5.3% 2005-07-01 6.0% 6.6% 5.5% 2005-08-01 6.1% 6.8% 5.6% 2005-09-01 6.1% 7.0% 5.5% 2005-10-01 6.0% 7.0% 5.4% 2005-11-01 5.8% 6.7% 5.1% 2005-12-01 5.5% 6.4% 4.8% 2006-01-01 5.3% 6.1% 4.6% 2006-02-01 5.1% 6.0% 4.5% 2006-03-01 5.1% 5.9% 4.5% 2006-04-01 4.9% 5.7% 4.3% 2006-05-01 4.8% 5.6% 4.2% 2006-06-01 4.9% 5.7% 4.3% 2006-07-01 4.8% 5.6% 4.3% 2006-08-01 4.8% 5.6% 4.2% 2006-09-01 4.7% 5.8% 4.0% 2006-10-01 4.8% 6.0% 4.0% 2006-11-01 4.8% 5.9% 4.0% 2006-12-01 5.0% 6.0% 4.3% 2007-01-01 5.0% 6.0% 4.3% 2007-02-01 5.0% 5.9% 4.2% 2007-03-01 4.9% 5.8% 4.3% 2007-04-01 5.1% 5.8% 4.5% 2007-05-01 5.1% 6.0% 4.5% 2007-06-01 5.2% 6.3% 4.3% 2007-07-01 5.2% 6.2% 4.3% 2007-08-01 5.2% 6.4% 4.3% 2007-09-01 5.5% 6.6% 4.6% 2007-10-01 5.5% 6.6% 4.6% 2007-11-01 5.6% 6.7% 4.8% 2007-12-01 5.5% 6.6% 4.7% 2008-01-01 5.6% 6.7% 4.7% 2008-02-01 5.6% 6.6% 4.7% 2008-03-01 5.6% 6.7% 4.7% 2008-04-01 5.5% 6.6% 4.6% 2008-05-01 5.5% 6.5% 4.8% 2008-06-01 5.5% 6.4% 4.9% 2008-07-01 5.7% 6.4% 5.1% 2008-08-01 5.8% 6.5% 5.2% 2008-09-01 5.7% 6.4% 5.2% 2008-10-01 5.8% 6.5% 5.2% 2008-11-01 5.8% 6.5% 5.2% 2008-12-01 5.9% 6.8% 5.3% 2009-01-01 6.2% 7.1% 5.5% 2009-02-01 6.5% 7.5% 5.8% 2009-03-01 6.9% 8.2% 5.9% 2009-04-01 7.2% 8.6% 6.1% 2009-05-01 7.4% 8.9% 6.4% 2009-06-01 7.8% 9.3% 6.7% 2009-07-01 7.9% 9.1% 7.1% 2009-08-01 8.3% 9.2% 7.6% 2009-09-01 8.4% 9.4% 7.7% 2009-10-01 8.7% 9.9% 7.8% 2009-11-01 8.9% 10.0% 8.0% 2009-12-01 9.1% 10.3% 8.1% 2010-01-01 9.1% 10.6% 8.0% 2010-02-01 9.2% 10.7% 8.0% 2010-03-01 9.2% 10.5% 8.1% 2010-04-01 9.3% 10.6% 8.3% 2010-05-01 9.3% 10.7% 8.2% 2010-06-01 9.3% 11.0% 8.1% 2010-07-01 9.5% 11.6% 7.8% 2010-08-01 9.4% 11.8% 7.5% 2010-09-01 9.4% 11.8% 7.5% 2010-10-01 9.4% 11.5% 7.8% 2010-11-01 9.5% 11.6% 7.9% 2010-12-01 9.6% 11.6% 8.1% 2011-01-01 9.7% 11.6% 8.3% 2011-02-01 9.8% 11.7% 8.4% 2011-03-01 9.9% 11.8% 8.5% 2011-04-01 9.8% 11.7% 8.4% 2011-05-01 9.7% 11.5% 8.3% 2011-06-01 9.7% 11.3% 8.6% 2011-07-01 9.9% 11.1% 9.0% 2011-08-01 9.9% 10.8% 9.3% 2011-09-01 9.9% 10.7% 9.3% 2011-10-01 9.8% 10.6% 9.2% 2011-11-01 9.5% 10.4% 8.9% 2011-12-01 9.3% 10.1% 8.7% 2012-01-01 9.1% 9.5% 8.9% 2012-02-01 9.0% 9.4% 8.6% 2012-03-01 8.7% 8.9% 8.5% 2012-04-01 8.7% 8.8% 8.7% 2012-05-01 8.7% 8.6% 8.8% 2012-06-01 8.5% 8.7% 8.4% 2012-07-01 8.3% 8.7% 7.9% 2012-08-01 8.2% 8.9% 7.6% 2012-09-01 8.0% 8.8% 7.4% 2012-10-01 7.8% 8.7% 7.2% 2012-11-01 7.9% 8.7% 7.2% 2012-12-01 8.0% 8.7% 7.4% 2013-01-01 8.0% 9.0% 7.2% 2013-02-01 8.1% 9.2% 7.2% 2013-03-01 8.2% 9.5% 7.2% 2013-04-01 8.2% 9.5% 7.1% 2013-05-01 8.3% 9.7% 7.0% 2013-06-01 8.3% 9.6% 7.2% 2013-07-01 8.3% 9.5% 7.2% 2013-08-01 8.4% 9.5% 7.5% 2013-09-01 8.6% 9.5% 7.8% 2013-10-01 8.6% 9.5% 7.9% 2013-11-01 8.6% 9.4% 8.0% 2013-12-01 8.6% 9.4% 7.9% 2014-01-01 8.6% 9.4% 7.9% 2014-02-01 8.6% 9.2% 8.1% 2014-03-01 8.5% 9.0% 8.0% 2014-04-01 8.2% 8.8% 7.8% 2014-05-01 8.0% 8.4% 7.7% 2014-06-01 7.9% 8.1% 7.7% 2014-07-01 7.9% 8.1% 7.7% 2014-08-01 7.6% 7.8% 7.5% 2014-09-01 7.6% 7.7% 7.6% 2014-10-01 7.7% 7.7% 7.8% 2014-11-01 7.6% 7.8% 7.5% 2014-12-01 7.5% 7.8% 7.3% 2015-01-01 7.4% 7.9% 7.0% 2015-02-01 7.3% 8.0% 6.8% 2015-03-01 7.2% 7.8% 6.8% Chart Data Download data The data below can be saved or copied directly into Excel. The data underlying the figure. * Data reflect 12-month moving averages; data for 2015 represent 12-month average from April 2014 to March 2015. Note: Shaded areas denote recessions. Data are for college graduates age 21–24 who are not enrolled in further schooling. Source: EPI analysis of basic monthly Current Population Survey microdata Share on Facebook Tweet this chart Embed Copy the code below to embed this chart on your website. Download image

Unemployment data by gender, though somewhat volatile due to relatively small sample sizes, show that the increase in unemployment was larger for young male college graduates (from 6.6 percent in 2007 to a peak of 11.8 percent in 2010) than young female college graduates (from 4.7 percent in 2007 to a peak of 9.3 percent in 2011). For young male college graduates the unemployment rate has since improved to 7.8 percent, whereas it stands at 6.8 percent for young female college graduates. This gender gap in unemployment is likely due largely to industry concentration; women are more likely to be employed in industries, such as health and education, that are less sensitive to downturns.

Figure F shows unemployment rates by race and ethnicity of college graduates age 21–24 who are not enrolled in further schooling. The data by race and ethnicity are very volatile year-to-year due to small sample sizes, so it is important not to emphasize year-over-year changes but to instead focus on longer-run trends. What they show is that the unemployment rate of young college graduates who are racial and ethnic minorities tends to be higher than that of young white non-Hispanic college graduates, in good times and bad. The unemployment rate of young black college graduates was 8.1 percent in 2007, rose to 20.7 percent by 2011, and has since improved to 11.4 percent. The unemployment rate of young Hispanic college graduates was 7.3 percent in 2007, rose to 14.4 percent by 2010, improved to 7.3 percent by 2014, and has ticked back up to 11.0 percent. Among young white non-Hispanic college graduates, the unemployment rate was 5.1 percent in 2007, rose to 9.0 percent in 2011, and has since improved to 5.8 percent.

Figure F Unemployment rate of young college graduates, by race and ethnicity, 1989–2015* Date White Black Hispanic 1989-12-01 4.5% 6.7% 13.5% 1990-01-01 4.4% 6.7% 13.7% 1990-02-01 4.3% 7.3% 14.3% 1990-03-01 4.3% 7.4% 15.2% 1990-04-01 4.3% 8.4% 14.0% 1990-05-01 4.3% 8.9% 14.5% 1990-06-01 4.3% 8.8% 14.0% 1990-07-01 4.5% 9.5% 13.3% 1990-08-01 4.8% 9.6% 13.7% 1990-09-01 4.7% 9.6% 12.2% 1990-10-01 4.9% 10.0% 11.6% 1990-11-01 4.7% 10.4% 9.8% 1990-12-01 4.7% 10.6% 9.7% 1991-01-01 5.0% 10.9% 9.6% 1991-02-01 5.3% 11.7% 9.5% 1991-03-01 5.4% 12.0% 9.8% 1991-04-01 5.4% 11.2% 10.2% 1991-05-01 5.4% 11.6% 10.4% 1991-06-01 5.5% 12.3% 11.0% 1991-07-01 5.7% 12.6% 10.7% 1991-08-01 5.8% 12.1% 10.8% 1991-09-01 5.9% 12.0% 10.6% 1991-10-01 6.0% 12.0% 10.9% 1991-11-01 6.2% 11.7% 11.8% 1991-12-01 6.4% 11.9% 12.3% 1992-01-01 6.3% 11.6% 11.8% 1992-02-01 6.4% 10.5% 10.7% 1992-03-01 6.4% 10.6% 12.6% 1992-04-01 6.4% 11.5% 12.8% 1992-05-01 6.5% 11.2% 12.6% 1992-06-01 6.6% 11.1% 12.2% 1992-07-01 6.6% 10.5% 12.7% 1992-08-01 6.6% 10.5% 12.7% 1992-09-01 6.7% 9.7% 12.6% 1992-10-01 6.5% 8.9% 12.1% 1992-11-01 6.4% 9.3% 11.1% 1992-12-01 6.3% 9.0% 11.0% 1993-01-01 6.2% 9.1% 11.0% 1993-02-01 6.2% 10.3% 12.0% 1993-03-01 6.3% 10.7% 9.0% 1993-04-01 6.3% 10.6% 9.2% 1993-05-01 6.3% 11.1% 9.0% 1993-06-01 6.1% 10.9% 8.5% 1993-07-01 6.0% 10.5% 10.3% 1993-08-01 5.9% 10.3% 10.1% 1993-09-01 5.9% 10.9% 9.4% 1993-10-01 5.7% 11.6% 9.9% 1993-11-01 5.7% 11.8% 10.4% 1993-12-01 5.7% 12.3% 11.3% 1994-01-01 5.7% 12.4% 10.0% 1994-02-01 5.5% 11.1% 9.1% 1994-03-01 5.3% 10.7% 8.9% 1994-04-01 5.2% 10.3% 8.3% 1994-05-01 5.0% 9.6% 8.2% 1994-06-01 5.0% 9.4% 8.0% 1994-07-01 5.1% 9.1% 6.7% 1994-08-01 5.1% 8.8% 6.8% 1994-09-01 5.2% 7.7% 7.1% 1994-10-01 5.3% 6.8% 7.1% 1994-11-01 5.2% 6.4% 7.0% 1994-12-01 5.2% 5.7% 6.2% 1995-01-01 5.2% 5.2% 7.7% 1995-02-01 5.3% 5.7% 8.0% 1995-03-01 5.4% 5.2% 7.9% 1995-04-01 5.5% 5.2% 8.4% 1995-05-01 5.5% 6.1% 8.0% 1995-06-01 5.4% 6.6% 8.0% 1995-07-01 5.2% 7.4% 8.3% 1995-08-01 5.1% 7.6% 8.7% 1995-09-01 5.1% 7.9% 9.6% 1995-10-01 5.2% 8.0% 10.5% 1995-11-01 5.4% 7.4% 9.7% 1995-12-01 5.4% 7.6% 9.8% 1996-01-01 5.5% 8.0% 8.4% 1996-02-01 5.4% 8.0% 8.8% 1996-03-01 5.6% 8.6% 8.6% 1996-04-01 5.5% 8.5% 8.2% 1996-05-01 5.7% 7.4% 8.3% 1996-06-01 6.0% 6.3% 8.3% 1996-07-01 6.1% 6.0% 9.1% 1996-08-01 6.1% 6.5% 8.7% 1996-09-01 5.9% 7.6% 7.5% 1996-10-01 5.8% 7.3% 6.3% 1996-11-01 5.6% 7.4% 6.4% 1996-12-01 5.4% 8.3% 6.2% 1997-01-01 5.3% 8.3% 6.3% 1997-02-01 5.3% 7.9% 5.9% 1997-03-01 5.0% 7.7% 6.3% 1997-04-01 4.9% 7.3% 6.5% 1997-05-01 4.6% 7.6% 6.5% 1997-06-01 4.2% 7.9% 6.7% 1997-07-01 3.9% 7.4% 5.5% 1997-08-01 3.7% 8.1% 5.7% 1997-09-01 3.7% 7.1% 5.8% 1997-10-01 3.6% 7.2% 6.0% 1997-11-01 3.3% 7.4% 6.3% 1997-12-01 3.4% 6.8% 6.5% 1998-01-01 3.2% 6.4% 7.8% 1998-02-01 3.0% 6.6% 7.4% 1998-03-01 2.9% 6.6% 7.0% 1998-04-01 3.0% 7.0% 6.8% 1998-05-01 3.1% 6.4% 7.2% 1998-06-01 3.3% 6.3% 7.0% 1998-07-01 3.5% 7.1% 7.4% 1998-08-01 3.7% 6.1% 6.8% 1998-09-01 3.8% 6.8% 6.9% 1998-10-01 3.8% 7.0% 6.9% 1998-11-01 3.9% 6.7% 7.8% 1998-12-01 3.9% 6.9% 7.9% 1999-01-01 4.0% 7.1% 7.3% 1999-02-01 4.2% 7.0% 7.0% 1999-03-01 4.3% 6.6% 7.1% 1999-04-01 4.3% 6.7% 7.1% 1999-05-01 4.3% 7.5% 6.9% 1999-06-01 4.5% 7.3% 6.5% 1999-07-01 4.6% 8.2% 6.6% 1999-08-01 4.4% 8.3% 7.8% 1999-09-01 4.4% 8.4% 7.8% 1999-10-01 4.7% 7.9% 7.4% 1999-11-01 4.8% 8.1% 6.3% 1999-12-01 4.8% 7.9% 6.4% 2000-01-01 5.0% 7.8% 5.8% 2000-02-01 4.9% 8.7% 5.9% 2000-03-01 5.1% 9.3% 5.8% 2000-04-01 5.0% 8.8% 5.9% 2000-05-01 5.1% 8.2% 5.5% 2000-06-01 4.9% 8.4% 5.6% 2000-07-01 4.7% 7.0% 5.3% 2000-08-01 4.5% 6.6% 5.1% 2000-09-01 4.3% 6.6% 5.5% 2000-10-01 4.1% 6.9% 5.5% 2000-11-01 4.0% 6.5% 6.0% 2000-12-01 3.8% 6.9% 5.9% 2001-01-01 3.8% 7.2% 5.9% 2001-02-01 3.8% 5.6% 6.0% 2001-03-01 3.8% 5.0% 6.2% 2001-04-01 3.9% 5.0% 6.3% 2001-05-01 3.9% 5.0% 6.5% 2001-06-01 4.0% 5.7% 7.7% 2001-07-01 4.0% 5.8% 9.2% 2001-08-01 4.5% 7.3% 8.9% 2001-09-01 5.0% 7.5% 9.3% 2001-10-01 5.1% 7.6% 9.2% 2001-11-01 5.3% 7.9% 9.6% 2001-12-01 5.4% 9.0% 9.5% 2002-01-01 5.4% 8.9% 9.2% 2002-02-01 5.5% 9.8% 9.7% 2002-03-01 5.5% 9.4% 9.5% 2002-04-01 5.4% 10.0% 10.0% 2002-05-01 5.4% 10.1% 10.4% 2002-06-01 5.4% 9.5% 9.8% 2002-07-01 5.3% 10.4% 9.5% 2002-08-01 5.3% 8.4% 9.3% 2002-09-01 5.1% 7.9% 9.0% 2002-10-01 5.1% 7.9% 8.8% 2002-11-01 5.0% 7.8% 8.1% 2002-12-01 5.1% 6.7% 8.0% 2003-01-01 5.3% 7.0% 8.2% 2003-02-01 5.3% 7.0% 8.6% 2003-03-01 5.4% 7.0% 9.2% 2003-04-01 5.5% 6.3% 9.5% 2003-05-01 5.5% 7.0% 9.5% 2003-06-01 5.6% 7.5% 10.0% 2003-07-01 5.8% 7.5% 10.6% 2003-08-01 5.8% 8.4% 11.1% 2003-09-01 5.7% 8.6% 11.3% 2003-10-01 5.8% 8.3% 12.3% 2003-11-01 5.9% 8.4% 12.3% 2003-12-01 5.8% 8.0% 11.1% 2004-01-01 5.6% 8.0% 10.4% 2004-02-01 5.6% 8.6% 9.3% 2004-03-01 5.6% 9.1% 9.1% 2004-04-01 5.7% 9.5% 8.2% 2004-05-01 5.6% 8.9% 7.4% 2004-06-01 5.8% 8.5% 6.6% 2004-07-01 5.6% 8.3% 5.5% 2004-08-01 5.3% 7.7% 4.7% 2004-09-01 5.2% 7.3% 5.9% 2004-10-01 5.1% 8.0% 5.2% 2004-11-01 5.3% 8.1% 5.4% 2004-12-01 5.3% 8.9% 5.9% 2005-01-01 5.4% 8.9% 6.8% 2005-02-01 5.5% 7.9% 6.7% 2005-03-01 5.3% 7.8% 6.3% 2005-04-01 5.4% 7.6% 6.4% 2005-05-01 5.4% 7.7% 6.8% 2005-06-01 5.1% 7.8% 7.2% 2005-07-01 5.3% 7.6% 7.4% 2005-08-01 5.3% 8.3% 7.6% 2005-09-01 5.4% 8.5% 6.1% 2005-10-01 5.4% 8.2% 6.5% 2005-11-01 5.2% 8.5% 6.7% 2005-12-01 5.0% 7.8% 6.9% 2006-01-01 4.9% 7.8% 5.6% 2006-02-01 4.8% 8.3% 5.1% 2006-03-01 4.9% 8.2% 5.3% 2006-04-01 4.6% 8.3% 5.3% 2006-05-01 4.5% 8.3% 4.9% 2006-06-01 4.5% 9.0% 6.0% 2006-07-01 4.4% 10.1% 7.0% 2006-08-01 4.3% 9.9% 8.5% 2006-09-01 4.3% 9.8% 7.6% 2006-10-01 4.5% 9.5% 7.1% 2006-11-01 4.5% 9.0% 6.9% 2006-12-01 4.7% 8.8% 6.4% 2007-01-01 4.7% 8.4% 6.2% 2007-02-01 4.6% 8.5% 6.4% 2007-03-01 4.4% 8.4% 6.0% 2007-04-01 4.6% 8.9% 5.5% 2007-05-01 4.7% 8.7% 5.5% 2007-06-01 4.7% 8.4% 5.2% 2007-07-01 4.7% 7.3% 5.8% 2007-08-01 5.0% 6.6% 5.7% 2007-09-01 5.3% 6.9% 6.3% 2007-10-01 5.2% 7.2% 6.7% 2007-11-01 5.3% 7.6% 6.9% 2007-12-01 5.1% 8.1% 7.3% 2008-01-01 5.2% 8.6% 7.4% 2008-02-01 5.1% 8.5% 7.9% 2008-03-01 5.2% 8.1% 8.3% 2008-04-01 5.2% 7.7% 8.3% 2008-05-01 5.2% 8.2% 8.3% 2008-06-01 5.3% 8.2% 8.6% 2008-07-01 5.5% 9.1% 7.8% 2008-08-01 5.5% 10.0% 7.7% 2008-09-01 5.4% 9.8% 7.4% 2008-10-01 5.6% 9.5% 7.3% 2008-11-01 5.6% 9.4% 7.2% 2008-12-01 5.8% 9.4% 7.1% 2009-01-01 6.0% 9.2% 8.3% 2009-02-01 6.2% 10.2% 9.0% 2009-03-01 6.4% 11.9% 9.3% 2009-04-01 6.6% 12.9% 9.5% 2009-05-01 6.8% 13.2% 10.0% 2009-06-01 7.1% 13.5% 10.6% 2009-07-01 7.0% 14.0% 10.8% 2009-08-01 7.4% 14.6% 10.7% 2009-09-01 7.4% 15.4% 11.0% 2009-10-01 7.5% 16.1% 11.9% 2009-11-01 7.6% 15.6% 12.7% 2009-12-01 7.5% 15.8% 13.7% 2010-01-01 7.6% 15.7% 13.6% 2010-02-01 7.5% 15.3% 14.1% 2010-03-01 7.6% 14.5% 14.2% 2010-04-01 7.9% 14.1% 14.4% 2010-05-01 8.0% 14.3% 14.0% 2010-06-01 8.0% 15.6% 13.1% 2010-07-01 8.1% 18.3% 13.1% 2010-08-01 7.9% 19.7% 13.0% 2010-09-01 7.9% 19.2% 13.6% 2010-10-01 7.9% 19.6% 13.6% 2010-11-01 8.1% 19.8% 14.0% 2010-12-01 8.2% 20.0% 13.8% 2011-01-01 8.5% 20.7% 13.6% 2011-02-01 8.7% 20.3% 12.6% 2011-03-01 8.8% 20.0% 12.4% 2011-04-01 8.7% 19.1% 12.4% 2011-05-01 8.5% 19.0% 12.1% 2011-06-01 8.6% 17.8% 13.2% 2011-07-01 8.9% 14.8% 13.7% 2011-08-01 9.0% 13.0% 14.4% 2011-09-01 9.0% 12.8% 13.7% 2011-10-01 8.9% 12.3% 13.8% 2011-11-01 8.8% 11.1% 13.2% 2011-12-01 8.6% 10.6% 12.7% 2012-01-01 8.4% 10.4% 12.7% 2012-02-01 8.2% 10.2% 12.7% 2012-03-01 8.0% 9.9% 11.8% 2012-04-01 8.0% 10.2% 11.8% 2012-05-01 8.0% 9.8% 12.6% 2012-06-01 7.8% 9.0% 12.1% 2012-07-01 7.6% 9.2% 11.5% 2012-08-01 7.4% 9.8% 11.2% 2012-09-01 7.3% 10.1% 10.3% 2012-10-01 7.2% 9.6% 9.4% 2012-11-01 7.1% 10.0% 9.3% 2012-12-01 7.1% 10.4% 9.2% 2013-01-01 7.3% 10.4% 8.6% 2013-02-01 7.3% 11.6% 8.1% 2013-03-01 7.4% 13.2% 8.7% 2013-04-01 7.4% 12.7% 9.1% 2013-05-01 7.5% 13.0% 8.3% 2013-06-01 7.6% 13.5% 7.9% 2013-07-01 7.6% 13.4% 8.1% 2013-08-01 7.8% 15.1% 8.3% 2013-09-01 7.9% 14.5% 8.9% 2013-10-01 8.0% 14.9% 9.0% 2013-11-01 8.1% 15.1% 8.7% 2013-12-01 8.2% 15.0% 8.4% 2014-01-01 8.2% 15.1% 8.3% 2014-02-01 8.2% 13.8% 8.1% 2014-03-01 8.0% 13.1% 7.8% 2014-04-01 7.7% 13.3% 7.3% 2014-05-01 7.5% 12.7% 7.5% 2014-06-01 7.3% 13.4% 7.7% 2014-07-01 7.1% 14.1% 7.8% 2014-08-01 6.8% 12.5% 8.4% 2014-09-01 6.7% 12.3% 8.8% 2014-10-01 6.6% 11.9% 8.9% 2014-11-01 6.5% 11.1% 9.4% 2014-12-01 6.3% 11.0% 9.4% 2015-01-01 6.1% 10.5% 10.1% 2015-02-01 5.9% 11.7% 11.2% 2015-03-01 5.8% 11.4% 11.0% Chart Data Download data The data below can be saved or copied directly into Excel. The data underlying the figure. * Data reflect 12-month moving averages; data for 2015 represent 12-month average from April 2014 to March 2015. Note: Data are for college graduates age 21–24 who do not have an advanced degree and are not enrolled in further schooling. Shaded areas denote recessions. Race/ethnicity categories are mutually exclusive (i.e., white non-Hispanic, black non-Hispanic, and Hispanic any race). Source: EPI analysis of basic monthly Current Population Survey microdata Share on Facebook Tweet this chart Embed Copy the code below to embed this chart on your website. Download image

One would think there would be little disparity in the unemployment rates of young college graduates, who have the same basic degree and are in the same labor market position (i.e., college graduates, age 21–24, not enrolled in school, and either employed or actively seeking work). It is notable that having an equivalent amount of higher education and a virtual blank slate of prior professional work experience still does not generate parity in unemployment across races and ethnicities. The unemployment rates of black and Hispanic college graduates remain much more elevated than those of whites. This suggests other factors may be in play, such as discrimination or unequal access to the informal professional networks that often lead to job opportunities.

Figure G presents unemployment and underemployment data for young college graduates age 21–24 who are not enrolled in further schooling. Currently, while the unemployment rate of this group is 7.2 percent, the underemployment rate is more than twice that, at 14.9 percent. In other words, in addition to the substantial share who are officially unemployed, a large amount of these young, highly educated workers either have a job but cannot attain the hours they need, or want a job but have given up looking for work. Similar to the story for high school graduates, the underemployment-to-unemployment ratio for recent college graduates is the highest it’s ever been, at 2.1. This signifies that young college graduates are still experiencing significant labor market slack.

Figure G Unemployment and underemployment rates of young college graduates, 1994–2015* Date Unemployment rate Underemployment rate 1994-12-01 5.3% 10.2% 1995-01-01 5.3% 10.4% 1995-02-01 5.5% 10.6% 1995-03-01 5.6% 10.6% 1995-04-01 5.7% 10.8% 1995-05-01 5.8% 10.9% 1995-06-01 5.8% 10.8% 1995-07-01 5.6% 10.7% 1995-08-01 5.6% 10.8% 1995-09-01 5.7% 10.9% 1995-10-01 5.7% 11.0% 1995-11-01 5.8% 11.1% 1995-12-01 5.8% 11.0% 1996-01-01 5.8% 10.8% 1996-02-01 5.7% 10.5% 1996-03-01 5.9% 10.6% 1996-04-01 5.7% 10.3% 1996-05-01 5.8% 10.3% 1996-06-01 6.0% 10.6% 1996-07-01 6.1% 10.8% 1996-08-01 6.1% 10.8% 1996-09-01 6.0% 10.6% 1996-10-01 5.8% 10.4% 1996-11-01 5.7% 10.2% 1996-12-01 5.5% 9.9% 1997-01-01 5.4% 9.8% 1997-02-01 5.4% 9.6% 1997-03-01 5.2% 9.5% 1997-04-01 5.1% 9.5% 1997-05-01 4.9% 9.2% 1997-06-01 4.6% 8.7% 1997-07-01 4.2% 8.2% 1997-08-01 4.2% 8.1% 1997-09-01 4.0% 7.8% 1997-10-01 3.9% 7.7% 1997-11-01 3.7% 7.5% 1997-12-01 3.8% 7.8% 1998-01-01 3.7% 7.7% 1998-02-01 3.6% 7.6% 1998-03-01 3.4% 7.5% 1998-04-01 3.4% 7.6% 1998-05-01 3.6% 7.8% 1998-06-01 3.7% 7.9% 1998-07-01 4.0% 8.1% 1998-08-01 4.0% 8.0% 1998-09-01 4.2% 8.1% 1998-10-01 4.2% 7.9% 1998-11-01 4.4% 7.9% 1998-12-01 4.4% 7.6% 1999-01-01 4.3% 7.5% 1999-02-01 4.4% 7.6% 1999-03-01 4.5% 7.4% 1999-04-01 4.5% 7.1% 1999-05-01 4.5% 7.1% 1999-06-01 4.7% 7.1% 1999-07-01 4.8% 7.3% 1999-08-01 4.7% 7.3% 1999-09-01 4.7% 7.2% 1999-10-01 5.0% 7.4% 1999-11-01 5.0% 7.5% 1999-12-01 5.0% 7.6% 2000-01-01 5.1% 7.7% 2000-02-01 5.2% 7.7% 2000-03-01 5.4% 7.9% 2000-04-01 5.4% 8.0% 2000-05-01 5.4% 8.2% 2000-06-01 5.3% 8.1% 2000-07-01 5.0% 7.9% 2000-08-01 4.9% 7.7% 2000-09-01 4.7% 7.5% 2000-10-01 4.5% 7.4% 2000-11-01 4.4% 7.3% 2000-12-01 4.3% 7.1% 2001-01-01 4.3% 7.1% 2001-02-01 4.2% 7.1% 2001-03-01 4.1% 7.1% 2001-04-01 4.1% 7.0% 2001-05-01 4.1% 7.0% 2001-06-01 4.2% 7.2% 2001-07-01 4.3% 7.3% 2001-08-01 4.9% 8.1% 2001-09-01 5.4% 8.7% 2001-10-01 5.5% 9.0% 2001-11-01 5.8% 9.3% 2001-12-01 5.9% 9.4% 2002-01-01 5.9% 9.5% 2002-02-01 6.1% 9.9% 2002-03-01 6.2% 10.0% 2002-04-01 6.3% 10.2% 2002-05-01 6.3% 10.3% 2002-06-01 6.2% 10.2% 2002-07-01 6.3% 10.3% 2002-08-01 6.1% 9.8% 2002-09-01 5.8% 9.6% 2002-10-01 5.9% 9.4% 2002-11-01 5.7% 9.2% 2002-12-01 5.7% 9.3% 2003-01-01 6.0% 9.6% 2003-02-01 6.0% 9.6% 2003-03-01 6.1% 9.8% 2003-04-01 6.1% 9.8% 2003-05-01 6.1% 10.0% 2003-06-01 6.2% 10.3% 2003-07-01 6.3% 10.6% 2003-08-01 6.4% 10.8% 2003-09-01 6.2% 10.7% 2003-10-01 6.4% 11.0% 2003-11-01 6.5% 11.3% 2003-12-01 6.4% 11.3% 2004-01-01 6.3% 11.3% 2004-02-01 6.2% 11.5% 2004-03-01 6.3% 11.6% 2004-04-01 6.3% 11.6% 2004-05-01 6.1% 11.3% 2004-06-01 6.2% 11.3% 2004-07-01 6.0% 11.0% 2004-08-01 5.7% 10.7% 2004-09-01 5.7% 10.8% 2004-10-01 5.6% 10.7% 2004-11-01 5.7% 10.6% 2004-12-01 5.9% 10.7% 2005-01-01 6.1% 10.7% 2005-02-01 6.1% 10.7% 2005-03-01 5.9% 10.4% 2005-04-01 5.9% 10.6% 2005-05-01 6.0% 10.7% 2005-06-01 5.7% 10.4% 2005-07-01 6.0% 10.5% 2005-08-01 6.1% 10.7% 2005-09-01 6.1% 10.6% 2005-10-01 6.0% 10.5% 2005-11-01 5.8% 10.4% 2005-12-01 5.5% 10.1% 2006-01-01 5.3% 9.9% 2006-02-01 5.1% 9.8% 2006-03-01 5.1% 9.6% 2006-04-01 4.9% 9.3% 2006-05-01 4.8% 9.1% 2006-06-01 4.9% 9.2% 2006-07-01 4.8% 9.2% 2006-08-01 4.8% 9.0% 2006-09-01 4.7% 8.8% 2006-10-01 4.8% 8.9% 2006-11-01 4.8% 8.8% 2006-12-01 5.0% 8.9% 2007-01-01 5.0% 9.0% 2007-02-01 5.0% 8.8% 2007-03-01 4.9% 8.7% 2007-04-01 5.1% 8.8% 2007-05-01 5.1% 8.9% 2007-06-01 5.2% 9.0% 2007-07-01 5.2% 9.1% 2007-08-01 5.2% 9.2% 2007-09-01 5.5% 9.5% 2007-10-01 5.5% 9.5% 2007-11-01 5.6% 9.6% 2007-12-01 5.5% 9.6% 2008-01-01 5.6% 9.3% 2008-02-01 5.6% 9.4% 2008-03-01 5.6% 9.4% 2008-04-01 5.5% 9.5% 2008-05-01 5.5% 9.6% 2008-06-01 5.5% 9.9% 2008-07-01 5.7% 10.0% 2008-08-01 5.8% 10.2% 2008-09-01 5.7% 10.1% 2008-10-01 5.8% 10.3% 2008-11-01 5.8% 10.4% 2008-12-01 5.9% 10.8% 2009-01-01 6.2% 11.4% 2009-02-01 6.5% 11.9% 2009-03-01 6.9% 12.6% 2009-04-01 7.2% 13.1% 2009-05-01 7.4% 13.5% 2009-06-01 7.8% 14.0% 2009-07-01 7.9% 14.4% 2009-08-01 8.3% 15.2% 2009-09-01 8.4% 15.8% 2009-10-01 8.7% 16.3% 2009-11-01 8.9% 16.8% 2009-12-01 9.1% 17.3% 2010-01-01 9.1% 17.5% 2010-02-01 9.2% 17.8% 2010-03-01 9.2% 17.7% 2010-04-01 9.3% 17.9% 2010-05-01 9.3% 18.1% 2010-06-01 9.3% 18.1% 2010-07-01 9.5% 18.3% 2010-08-01 9.4% 17.8% 2010-09-01 9.4% 18.0% 2010-10-01 9.4% 18.1% 2010-11-01 9.5% 18.2% 2010-12-01 9.6% 18.2% 2011-01-01 9.7% 18.4% 2011-02-01 9.8% 18.5% 2011-03-01 9.9% 18.6% 2011-04-01 9.8% 18.4% 2011-05-01 9.7% 18.2% 2011-06-01 9.7% 18.3% 2011-07-01 9.9% 18.5% 2011-08-01 9.9% 19.0% 2011-09-01 9.9% 18.8% 2011-10-01 9.8% 18.6% 2011-11-01 9.5% 18.4% 2011-12-01 9.3% 18.0% 2012-01-01 9.1% 17.8% 2012-02-01 9.0% 17.7% 2012-03-01 8.7% 17.5% 2012-04-01 8.7% 17.5% 2012-05-01 8.7% 17.4% 2012-06-01 8.5% 17.2% 2012-07-01 8.3% 17.2% 2012-08-01 8.2% 17.0% 2012-09-01 8.0% 17.0% 2012-10-01 7.8% 16.8% 2012-11-01 7.9% 16.6% 2012-12-01 8.0% 16.9% 2013-01-01 8.0% 16.8% 2013-02-01 8.1% 16.8% 2013-03-01 8.2% 16.8% 2013-04-01 8.2% 16.9% 2013-05-01 8.3% 17.2% 2013-06-01 8.3% 17.1% 2013-07-01 8.3% 17.0% 2013-08-01 8.4% 16.9% 2013-09-01 8.6% 17.0% 2013-10-01 8.6% 17.1% 2013-11-01 8.6% 17.2% 2013-12-01 8.6% 16.9% 2014-01-01 8.6% 17.0% 2014-02-01 8.6% 16.9% 2014-03-01 8.5% 16.8% 2014-04-01 8.2% 16.4% 2014-05-01 8.0% 16.0% 2014-06-01 7.9% 15.9% 2014-07-01 7.9% 15.8% 2014-08-01 7.6% 15.4% 2014-09-01 7.6% 15.2% 2014-10-01 7.7% 15.1% 2014-11-01 7.6% 15.1% 2014-12-01 7.5% 15.1% 2015-01-01 7.4% 15.0% 2015-02-01 7.3% 15.1% 2015-03-01 7.2% 14.9% Chart Data Download data The data below can be saved or copied directly into Excel. The data underlying the figure. * Data reflect 12-month moving averages; data for 2015 represent 12-month average from April 2014 to March 2015. Note: Shaded areas denote recessions. Underemployment data are only available beginning in 1994. Data are for college graduates age 21–24 who do not have an advanced degree and are not enrolled in further schooling. Source: EPI analysis of basic monthly Current Population Survey microdata Share on Facebook Tweet this chart Embed Copy the code below to embed this chart on your website. Download image

Employed college graduates are ending up in lower-level jobs

Although the measure of underemployment used in Figure G—the U-6 measure of labor underutilization—includes hours-based underemployment (i.e., part-time workers who want full-time work), it does not include “skills/education–based” underemployment (e.g., the young college graduate working as a barista). A recent paper by researchers at the Federal Reserve Bank of New York (Abel and Deitz 2014) offers insight into skills/education–based underemployment of recent college graduates. They categorize occupations according to whether the U.S. Department of Labor’s Occupational Information Network (O*NET) characterizes them as requiring a four-year college degree, and calculate what share of recent college graduates with jobs are working in jobs that actually require a college degree. First, it is important to note that even in good economic times, a surprisingly high share of young college graduates work in jobs that do not require their college degree. For example, in 2000—when jobs were plentiful and the unemployment rate was 4.0 percent—36 percent of employed college graduates age 22–27 worked in jobs that did not require a college degree. No matter how strong the labor market is, recent college graduates often require some time to transition smoothly into their desired career track.

However, the share of young college graduates working in jobs not requiring a college degree increased over the weak 2000–2007 business cycle, increased further in the Great Recession, and has not yet begun to improve. In 2007, 38 percent of employed college graduates under age 27 were working in a job that did not require a college degree, and this share increased to 46 percent by 2014 (Abel and Deitz 2014). Furthermore, the “non-college” jobs that workers with a college degree are ending up in are of lower quality now than they used to be. In 2000, half of recent college graduates who were in a job that did not require a college degree were nevertheless in a “good” job that tended to be career-oriented and fairly well-compensated—such as electrician, dental hygienist, or mechanic. That share has dropped substantially, while at the same time, there has been an increase in the share of recent college grads who are in low-wage jobs, such as bartender, food server, or cashier. The bottom line is that for recent college graduates, finding a good job has become much more difficult. These findings are consistent with other research showing that among the workforce as a whole, there has been a decline in the demand for “cognitive skills” since 2000 (Beaudry, Green, and Sand 2013).

These trends also underscore that the unemployment crisis since 2007 among young workers more broadly did not arise because young people today lack enough education or skills. Rather, it stems from weak demand for goods and services, which makes it unnecessary for employers to significantly ramp up hiring. For more on the fact that today’s labor market weakness is due to weak demand and not workers lacking the right skills or education, see Shierholz 2014.

Young workers are not “riding out” the recession by “sheltering in school”

Educational opportunity is often identified as a possible silver lining to the dark cloud of unemployment and underemployment that looms over today’s young graduates. The assumption is that a lack of job opportunities propels young workers to “shelter” from the downturn by attaining additional schooling, which may improve their long-run career prospects. However, there is little evidence of an uptick in enrollment due to the Great Recession, and in fact, enrollment plummeted over 2012–2014 and still has not recovered.

Figure H shows the share of young high school graduates (age 17–20) enrolled in college or university. The share of young high school graduates who go on to enroll in college has steadily increased over time, from 44.1 percent in 1989 to 57.3 percent in 2015. Women saw particularly steep increases in enrollment since 1989 (44.6 percent to 61.0 percent) compared with men (43.4 percent to 53.6 percent). Notably, the increases in enrollment between 2007 and 2012 simply followed this historical trend; they were no greater than the structural rise that had been happening before the Great Recession began. The overall enrollment rate increased 0.7 percentage points per year on average between 2000 and 2007, and it also increased 0.7 percentage points per year between 2007 and 2012 (for women, the increase was 0.8 percentage points per year for both periods, while for men, the increase in the two periods was 0.7 percentage points per year and 0.5 percentage points per year, respectively). In other words, there is little evidence of a Great Recession–induced increase in enrollment. And in 2012 and 2013, enrollment rates for both men and women dropped substantially. Enrollment rates have recently been on a slight upswing, in line with the historical trend, but have not fully recovered to the peak levels reached at the beginning of 2012. The share of young high school graduates enrolling in college is now 57.3 percent, in line with the 2009 share. Taken together, all of this suggests that young high school graduates have not been “riding out” the recession-induced lack of job opportunities by “sheltering in school.”

Figure H Share of young high school graduates enrolled in college or a university, by gender, 1989–2015* Date All Men Women 1989-12-01 44.1% 43.4% 44.6% 1990-01-01 44.1% 43.5% 44.5% 1990-02-01 44.1% 43.5% 44.6% 1990-03-01 44.2% 43.6% 44.7% 1990-04-01 44.2% 43.4% 44.9% 1990-05-01 44.3% 43.5% 45.1% 1990-06-01 44.4% 43.5% 45.2% 1990-07-01 44.5% 43.5% 45.4% 1990-08-01 44.9% 44.0% 45.7% 1990-09-01 45.0% 44.1% 45.7% 1990-10-01 45.1% 44.4% 45.8% 1990-11-01 45.4% 44.6% 46.0% 1990-12-01 45.6% 44.9% 46.2% 1991-01-01 45.7% 45.0% 46.2% 1991-02-01 45.6% 45.0% 46.2% 1991-03-01 45.7% 45.0% 46.2% 1991-04-01 45.7% 45.1% 46.2% 1991-05-01 45.3% 44.8% 45.7% 1991-06-01 45.4% 44.9% 45.9% 1991-07-01 45.6% 45.1% 46.0% 1991-08-01 45.5% 45.1% 45.9% 1991-09-01 45.5% 45.0% 45.9% 1991-10-01 45.6% 45.0% 46.1% 1991-11-01 45.7% 44.9% 46.3% 1991-12-01 45.7% 44.8% 46.5% 1992-01-01 45.8% 44.8% 46.8% 1992-02-01 45.9% 44.9% 46.9% 1992-03-01 46.0% 44.9% 46.9% 1992-04-01 46.0% 45.0% 46.8% 1992-05-01 46.2% 45.2% 47.0% 1992-06-01 46.3% 45.4% 47.2% 1992-07-01 46.4% 45.4% 47.2% 1992-08-01 46.2% 45.1% 47.2% 1992-09-01 46.5% 45.2% 47.5% 1992-10-01 46.6% 45.3% 47.7% 1992-11-01 46.6% 45.2% 47.7% 1992-12-01 46.5% 45.3% 47.6% 1993-01-01 46.4% 45.4% 47.4% 1993-02-01 46.4% 45.4% 47.4% 1993-03-01 46.5% 45.3% 47.5% 1993-04-01 46.5% 45.1% 47.8% 1993-05-01 46.8% 45.3% 48.1% 1993-06-01 47.0% 45.5% 48.3% 1993-07-01 47.0% 45.5% 48.4% 1993-08-01 47.1% 45.5% 48.5% 1993-09-01 47.0% 45.5% 48.4% 1993-10-01 46.9% 45.5% 48.2% 1993-11-01 47.1% 45.6% 48.3% 1993-12-01 47.1% 45.5% 48.4% 1994-01-01 47.1% 45.4% 48.7% 1994-02-01 47.2% 45.3% 48.9% 1994-03-01 47.3% 45.4% 49.0% 1994-04-01 47.4% 45.6% 49.1% 1994-05-01 47.6% 45.8% 49.2% 1994-06-01 47.5% 45.8% 49.1% 1994-07-01 47.8% 46.1% 49.2% 1994-08-01 48.4% 46.7% 49.8% 1994-09-01 48.6% 46.8% 50.1% 1994-10-01 48.6% 46.9% 50.2% 1994-11-01 48.7% 47.1% 50.2% 1994-12-01 48.8% 47.1% 50.4% 1995-01-01 48.8% 47.1% 50.4% 1995-02-01 48.7% 46.9% 50.3% 1995-03-01 48.4% 46.6% 50.0% 1995-04-01 48.2% 46.4% 49.7% 1995-05-01 48.2% 46.5% 49.8% 1995-06-01 48.4% 46.8% 49.8% 1995-07-01 48.6% 46.9% 50.1% 1995-08-01 48.6% 47.0% 50.0% 1995-09-01 48.6% 47.2% 49.8% 1995-10-01 48.6% 47.2% 49.8% 1995-11-01 48.3% 46.9% 49.6% 1995-12-01 48.2% 46.8% 49.5% 1996-01-01 48.2% 46.6% 49.6% 1996-02-01 48.4% 46.8% 49.8% 1996-03-01 48.6% 47.0% 50.1% 1996-04-01 48.9% 47.1% 50.4% 1996-05-01 48.5% 46.7% 50.1% 1996-06-01 48.5% 46.6% 50.1% 1996-07-01 48.5% 46.4% 50.4% 1996-08-01 49.2% 46.9% 51.3% 1996-09-01 49.2% 46.7% 51.5% 1996-10-01 49.4% 46.8% 51.8% 1996-11-01 49.6% 47.1% 51.9% 1996-12-01 49.8% 47.5% 51.9% 1997-01-01 50.0% 47.9% 52.0% 1997-02-01 50.1% 48.0% 51.9% 1997-03-01 50.0% 47.9% 51.9% 1997-04-01 49.9% 47.8% 51.7% 1997-05-01 49.9% 47.8% 51.8% 1997-06-01 50.0% 47.7% 52.0% 1997-07-01 49.9% 47.7% 51.9% 1997-08-01 50.1% 48.0% 52.0% 1997-09-01 50.2% 48.3% 51.9% 1997-10-01 50.3% 48.4% 51.9% 1997-11-01 50.4% 48.6% 52.0% 1997-12-01 50.5% 48.6% 52.3% 1998-01-01 50.6% 48.6% 52.4% 1998-02-01 50.8% 48.7% 52.6% 1998-03-01 50.9% 48.8% 52.9% 1998-04-01 51.2% 48.9% 53.3% 1998-05-01 51.3% 49.0% 53.4% 1998-06-01 51.7% 49.5% 53.7% 1998-07-01 51.8% 49.7% 53.8% 1998-08-01 52.0% 49.9% 53.9% 1998-09-01 52.1% 50.0% 54.0% 1998-10-01 52.2% 50.1% 54.1% 1998-11-01 52.4% 50.1% 54.4% 1998-12-01 52.4% 50.1% 54.6% 1999-01-01 52.5% 50.1% 54.7% 1999-02-01 52.6% 50.1% 54.8% 1999-03-01 52.7% 50.2% 54.9% 1999-04-01 52.6% 50.3% 54.7% 1999-05-01 52.8% 50.4% 55.0% 1999-06-01 52.8% 50.3% 55.0% 1999-07-01 52.7% 50.3% 54.9% 1999-08-01 52.6% 50.1% 54.8% 1999-09-01 52.6% 50.0% 54.9% 1999-10-01 52.4% 49.9% 54.7% 1999-11-01 52.4% 49.8% 54.7% 1999-12-01 52.2% 49.7% 54.5% 2000-01-01 52.1% 49.6% 54.4% 2000-02-01 52.0% 49.5% 54.3% 2000-03-01 51.9% 49.4% 54.1% 2000-04-01 51.8% 49.3% 54.0% 2000-05-01 51.8% 49.4% 54.0% 2000-06-01 51.6% 49.2% 53.7% 2000-07-01 51.7% 49.1% 54.0% 2000-08-01 51.8% 49.2% 54.1% 2000-09-01 51.7% 49.1% 54.0% 2000-10-01 51.6% 48.8% 54.1% 2000-11-01 51.5% 48.6% 54.1% 2000-12-01 51.5% 48.4% 54.1% 2001-01-01 51.5% 48.5% 54.1% 2001-02-01 51.6% 48.7% 54.1% 2001-03-01 51.7% 49.0% 54.1% 2001-04-01 51.7% 49.2% 54.0% 2001-05-01 51.9% 49.5% 53.9% 2001-06-01 52.1% 49.8% 54.1% 2001-07-01 52.3% 50.2% 54.1% 2001-08-01 53.0% 50.9% 54.8% 2001-09-01 53.0% 51.0% 54.9% 2001-10-01 53.0% 51.2% 54.7% 2001-11-01 52.9% 51.1% 54.5% 2001-12-01 53.0% 51.3% 54.5% 2002-01-01 53.0% 51.2% 54.5% 2002-02-01 53.0% 51.2% 54.7% 2002-03-01 53.0% 51.3% 54.6% 2002-04-01 53.1% 51.2% 54.7% 2002-05-01 52.9% 50.9% 54.7% 2002-06-01 52.9% 50.9% 54.7% 2002-07-01 53.1% 51.1% 54.8% 2002-08-01 53.0% 51.3% 54.7% 2002-09-01 53.2% 51.5% 54.7% 2002-10-01 53.4% 51.6% 55.1% 2002-11-01 53.6% 51.6% 55.4% 2002-12-01 53.7% 51.6% 55.6% 2003-01-01 53.9% 51.8% 55.8% 2003-02-01 54.0% 51.9% 55.9% 2003-03-01 54.1% 51.8% 56.2% 2003-04-01 54.1% 51.6% 56.4% 2003-05-01 54.0% 51.6% 56.3% 2003-06-01 54.0% 51.4% 56.4% 2003-07-01 54.0% 51.3% 56.6% 2003-08-01 54.0% 51.1% 56.7% 2003-09-01 54.0% 51.0% 56.8% 2003-10-01 54.0% 51.0% 56.9% 2003-11-01 54.1% 51.2% 56.8% 2003-12-01 54.2% 51.2% 56.9% 2004-01-01 54.2% 51.2% 57.0% 2004-02-01 54.3% 51.3% 57.1% 2004-03-01 54.5% 51.4% 57.4% 2004-04-01 54.9% 51.8% 57.8% 2004-05-01 55.4% 52.2% 58.3% 2004-06-01 55.7% 52.6% 58.6% 2004-07-01 56.0% 52.9% 58.8% 2004-08-01 56.0% 52.8% 59.0% 2004-09-01 56.2% 52.8% 59.3% 2004-10-01 56.3% 52.9% 59.4% 2004-11-01 56.3% 52.8% 59.5% 2004-12-01 56.3% 52.8% 59.6% 2005-01-01 56.2% 52.7% 59.4% 2005-02-01 56.1% 52.4% 59.4% 2005-03-01 56.1% 52.5% 59.3% 2005-04-01 56.0% 52.6% 59.2% 2005-05-01 56.1% 52.9% 59.0% 2005-06-01 55.9% 52.6% 58.9% 2005-07-01 55.6% 52.4% 58.6% 2005-08-01 55.5% 52.3% 58.4% 2005-09-01 55.5% 52.4% 58.4% 2005-10-01 55.6% 52.6% 58.4% 2005-11-01 55.6% 52.6% 58.4% 2005-12-01 55.6% 52.6% 58.4% 2006-01-01 55.6% 52.5% 58.4% 2006-02-01 55.4% 52.3% 58.3% 2006-03-01 55.2% 51.9% 58.2% 2006-04-01 55.0% 51.7% 58.1% 2006-05-01 55.0% 51.5% 58.3% 2006-06-01 55.0% 51.5% 58.2% 2006-07-01 55.0% 51.3% 58.5% 2006-08-01 55.1% 51.3% 58.5% 2006-09-01 54.9% 51.1% 58.4% 2006-10-01 54.6% 50.8% 58.2% 2006-11-01 54.6% 50.8% 58.1% 2006-12-01 54.6% 50.9% 58.2% 2007-01-01 54.8% 51.0% 58.4% 2007-02-01 55.0% 51.2% 58.5% 2007-03-01 55.0% 51.3% 58.4% 2007-04-01 55.1% 51.4% 58.5% 2007-05-01 55.0% 51.3% 58.5% 2007-06-01 55.1% 51.3% 58.7% 2007-07-01 55.4% 51.5% 59.0% 2007-08-01 56.0% 52.3% 59.5% 2007-09-01 56.1% 52.5% 59.6% 2007-10-01 56.3% 52.8% 59.7% 2007-11-01 56.4% 52.9% 59.7% 2007-12-01 56.5% 53.1% 59.7% 2008-01-01 56.5% 53.2% 59.5% 2008-02-01 56.6% 53.3% 59.6% 2008-03-01 56.7% 53.5% 59.7% 2008-04-01 56.6% 53.3% 59.8% 2008-05-01 56.5% 53.1% 59.7% 2008-06-01 56.7% 53.6% 59.7% 2008-07-01 56.7% 53.5% 59.7% 2008-08-01 56.6% 53.4% 59.7% 2008-09-01 56.8% 53.5% 59.9% 2008-10-01 56.8% 53.5% 59.9% 2008-11-01 56.8% 53.5% 60.0% 2008-12-01 56.8% 53.5% 60.1% 2009-01-01 57.0% 53.5% 60.3% 2009-02-01 56.9% 53.5% 60.2% 2009-03-01 56.9% 53.5% 60.2% 2009-04-01 57.0% 53.6% 60.3% 2009-05-01 57.2% 53.9% 60.5% 2009-06-01 57.4% 53.9% 60.9% 2009-07-01 57.6% 54.1% 61.1% 2009-08-01 57.6% 54.2% 61.0% 2009-09-01 57.8% 54.3% 61.2% 2009-10-01 58.0% 54.4% 61.4% 2009-11-01 58.3% 54.8% 61.7% 2009-12-01 58.4% 54.9% 61.9% 2010-01-01 58.6% 55.1% 62.0% 2010-02-01 58.8% 55.3% 62.2% 2010-03-01 58.9% 55.4% 62.4% 2010-04-01 59.0% 55.3% 62.4% 2010-05-01 59.0% 55.3% 62.5% 2010-06-01 59.0% 55.3% 62.5% 2010-07-01 59.1% 55.5% 62.4% 2010-08-01 59.3% 55.6% 62.9% 2010-09-01 59.3% 55.6% 62.8% 2010-10-01 59.3% 55.6% 62.8% 2010-11-01 59.2% 55.4% 62.8% 2010-12-01 59.1% 55.4% 62.7% 2011-01-01 58.9% 55.4% 62.3% 2011-02-01 58.8% 55.5% 62.0% 2011-03-01 58.8% 55.5% 61.8% 2011-04-01 58.8% 55.6% 61.9% 2011-05-01 59.0% 55.7% 62.2% 2011-06-01 59.2% 56.0% 62.3% 2011-07-01 59.4% 56.1% 62.7% 2011-08-01 59.5% 56.2% 62.7% 2011-09-01 59.6% 56.1% 62.9% 2011-10-01 59.6% 56.2% 63.0% 2011-11-01 59.6% 56.1% 63.0% 2011-12-01 59.7% 55.9% 63.3% 2012-01-01 59.9% 55.9% 63.7% 2012-02-01 60.0% 55.8% 64.0% 2012-03-01 60.2% 56.0% 64.3% 2012-04-01 60.2% 56.1% 64.2% 2012-05-01 60.3% 56.4% 64.1% 2012-06-01 60.1% 56.2% 63.9% 2012-07-01 59.9% 55.9% 63.8% 2012-08-01 60.3% 56.2% 64.3% 2012-09-01 60.3% 56.1% 64.4% 2012-10-01 60.1% 55.8% 64.2% 2012-11-01 59.9% 55.7% 64.1% 2012-12-01 59.8% 55.6% 63.8% 2013-01-01 59.5% 55.3% 63.6% 2013-02-01 59.5% 55.2% 63.6% 2013-03-01 59.4% 55.0% 63.5% 2013-04-01 59.2% 54.9% 63.3% 2013-05-01 58.9% 54.5% 63.0% 2013-06-01 58.4% 54.2% 62.4% 2013-07-01 58.0% 53.9% 61.9% 2013-08-01 57.5% 53.4% 61.4% 2013-09-01 57.2% 53.2% 61.0% 2013-10-01 57.1% 53.2% 60.8% 2013-11-01 57.0% 53.2% 60.6% 2013-12-01 56.7% 53.0% 60.4% 2014-01-01 56.7% 53.0% 60.3% 2014-02-01 56.5% 53.0% 60.0% 2014-03-01 56.4% 52.8% 59.9% 2014-04-01 56.5% 53.0% 59.9% 2014-05-01 56.5% 53.0% 59.9% 2014-06-01 56.6% 53.0% 60.1% 2014-07-01 56.7% 53.0% 60.2% 2014-08-01 56.5% 53.0% 59.9% 2014-09-01 56.4% 52.9% 59.8% 2014-10-01 56.6% 53.1% 60.0% 2014-11-01 56.8% 53.1% 60.3% 2014-12-01 57.0% 53.5% 60.5% 2015-01-01 57.2% 53.5% 60.7% 2015-02-01 57.3% 53.6% 60.8% 2015-03-01 57.3% 53.6% 61.0% Chart Data Download data The data below can be saved or copied directly into Excel. The data underlying the figure. * Data reflect 12-month moving averages; data for 2015 represent 12-month average from April 2014 to March 2015. Note: Shaded areas denote recessions. Data are for high school graduates age 17–20 who may have previous college experience. Source: EPI analysis of basic monthly Current Population Survey microdata Share on Facebook Tweet this chart Embed Copy the code below to embed this chart on your website. Download image

The same holds true for young college graduates. Figure I shows the share of young college graduates (age 21–24) enrolled in additional schooling (for example, to get a master’s degree). This share has also greatly increased over time (from 18.0 percent in 1989 to 26.3 percent in 2015), also with particularly steep increases for women (17.1 percent to 27.3 percent) compared with men (19.2 percent to 25.0 percent). The data in Figure I are quite volatile due to small sample sizes, but they show that college graduates’ increases in enrollment since 2007 have been no greater than what had been happening before the Great Recession. The overall enrollment rate increased 0.5 percentage points per year on average between 2000 and 2007, while it did not increase at all on average since 2007. Similar to high school graduates’ post-recession dip in college enrollment, college graduates saw a large decrease in their graduate school enrollment rates, occurring over 2013–2014. Men in particular saw large decreases, with their graduate school enrollment rates declining 6.0 percentage points over 2011–2014. Women’s enrollment rates experienced a decrease of 2.9 percentage points over 2013–2014. Since 2014, enrollment rates have been on a slight uptick and are in line with levels seen in 2009. In short, there is little evidence of a Great Recession–induced increase in enrollment. While state breakdowns of enrollment by educational attainment are not available, Appendix Table A3 shows enrollment rates by state of all high school graduates (including those with college degrees) under age 25.

Figure I Share of young college graduates enrolled in further education, by gender, 1989–2015* Date All Men Women 1989-12-01 18.0% 19.2% 17.1% 1990-01-01 18.0% 19.2% 17.1% 1990-02-01 18.3% 19.8% 17.2% 1990-03-01 18.7% 20.4% 17.4% 1990-04-01 18.8% 20.0% 17.8% 1990-05-01 19.2% 20.1% 18.5% 199