I initially developed the PATH2 program to help students determine their Top Career and Best Major because of the following types of alarming college statistics:
- 75% of college students change their major 1 to 3 times.
- 70% of Graduates do not find employment for 6 months after graduation.
- About 60% are not hired into jobs related to their major.
- Almost 50% of graduates end up in careers not needing a college degree.
Up until recently, I thought that there were lots of college related jobs available for any student who was in the right major and obtained good internships. I did not give a lot of thought to, “Are there enough college related careers available?”
While writing a social media post, I decided to dig further into factors related to the, “almost 50% of college graduates get jobs not requiring a degree,” statistic. In the process, I came across a great study by the Center for College Affordability and Productivity, titled “Why Are Recent College Graduates Underemployed?”. This Report is a real eye-opener and is a “must read” for any student and/or parent planning a college career.
I also read 4 additional underemployment reports by reputable organizations. Those reports conclude that between 43% and 50% of recent graduates are underemployed, confirming that nearly 50% of college graduates get jobs not requiring a degree.
My main take-away from the initial report was that each year, the number of students graduating amount to about twice the number of jobs that require a degree. Therefore, there are simply not enough college level jobs available for 50% of the graduates; and I conclude that the underemployed is primarily made up of the many students who change their major 2 or 3 times and still don’t know the career they are best suited for.
Because of the limited supply of jobs requiring a degree, most of those 50% of students are essentially guaranteed to become “underemployed,” in careers not requiring a degree.
See www.path2happisuccess.com for more.