With college commencement ceremonies winding down for 2016, new graduates are likely hitting the pavement in search of a job. In many respects, the job market for recent graduates is finally on the uptick. According to research by the Federal Reserve Bank of New York, the rate of unemployment for recent graduates is under 5 percent, basically back to pre-recession levels.
However, their research also shows that 45 percent of recent college graduates have jobs that don’t require their degrees. And while job opportunities have expanded, college grads still face stagnant wages and the highest student debt load ever. The research also shows that not all degrees are equal in the job market. Grads with health sciences degrees (i.e. nursing) are more in demand and have higher starting salaries than grads with liberal arts, humanities or political science degrees.
To view an interactive chart on this research by the Federal Reserve Bank, click here.