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ERIC Number: ED528241
Record Type: Non-Journal
Publication Date: 2012
Pages: 20
Abstractor: ERIC
Reference Count: 0
Hard Times, College Majors, Unemployment and Earnings: Not All College Degrees Are Created Equal
Carnevale, Anthony P.; Cheah, Ban; Strohl, Jeff
Georgetown University Center on Education and the Workforce
The question, as individuals slowly dig out from under the wreckage left by the Great Recession, is unavoidable: "Is college worth it?" The authors' answer: "Yes, extensive research, ours included, finds that a college degree is still worth it." A Bachelor's degree is one of the best weapons a job seeker can wield in the fight for employment and earnings. And staying on campus to earn a graduate degree provides safe shelter from the immediate economic storm, and will pay off with greater employability and earnings once the graduate enters the labor market. Unemployment for students with new Bachelor's degrees is an unacceptable 8.9 percent, but it's a catastrophic 22.9 percent for job seekers with a recent high school diploma--and an almost unthinkable 31.5 percent for recent high school dropouts. This paper takes a look at several factors that current and future college students should consider as they choose their courses. Underemployment and Earnings for College Majors are appended. (Contains 1 footnote.)
Georgetown University Center on Education and the Workforce. 3300 Whitehaven Street NW Suite 5000 Box 571444, Washington, DC 20057. Tel: 202-687-4922; Fax: 202-687-3110; e-mail:; Web site:
Publication Type: Numerical/Quantitative Data; Reports - Evaluative
Education Level: Higher Education
Audience: N/A
Language: English
Sponsor: Lumina Foundation; Bill and Melinda Gates Foundation
Authoring Institution: Georgetown University, Center on Education and the Workforce