ERIC Number: ED228933
Record Type: Non-Journal
Publication Date: 1982-Aug
Reference Count: N/A
The Overeducated American in the 1980s.
Freeman, Richard B.; McCarthy, Wiley
The 1982 job market for college graduates and future prospects are considered and the current conditions are compared to the economic rewards of the 1970s. A moderate improvement in the relative earnings and occupational attainment of college graduates began in the mid-1970s and continued through the early 1980s, but did not equal the pre-1970's level. Paralleling a relative income drop of college graduates is a deterioration of employment opportunities for college graduates. Humanities and social science majors experienced a loss in real starting pay of 20 percent from 1969 to 1975 and 9 percent from 1975 to 1982. Accountants and general business graduates did somewhat less poorly, while chemists and mathematicians gained in the later period. Engineers fared the best from 1970 to 1975. Longitudinal comparisons of income of the same persons or cohorts indicate that both 1966-1981 and 1971-1976 college graduates experienced an improvement in their income as they aged 5 years. However, graduates appear to have had slower increases in earnings relative to high school graduates than has historically been the case. (SW)
Publication Type: Reports - Descriptive
Education Level: N/A
Authoring Institution: National Commission on Student Financial Assistance, Washington, DC.