From Hard Times to Better Times: College Majors, Unemployment, and Earnings

This third installment of "Hard Times" updates the previous analyses of college majors, unemployment, and earnings over the Great Recession. While there is wide variation by college majors, hard times have become better times for most college graduates, but the recovery is far from complete. Hard times are becoming better times for most college graduates, though how much better varies widely among college majors--and for Communications and Journalism majors, whose unemployment rates are still rising, better times have yet to arrive. Overall, however, unemployment rates among college graduates are declining. The earnings advantage they enjoy over high school diploma workers is holding up, though this is due in part to declining earnings among the latter group. The national trend on earnings has been flat or slightly declining, and earnings among college graduates are no exception. A full recovery in the employment of college graduates, especially at the Bachelor's degree level, may be as far off as 2017 and a full recovery in earnings may take longer. Appended are: (1) Unemployment rates for grouped undergraduate majors, 2009-2012, based on data from the American Community Survey; (2) Median earnings for grouped undergraduate majors, 2009-2012; (3) Unemployment rates by detailed majors, 2009-2012; and (4) Median earnings by detailed major, 2009-2012.