Its researchers analyzed data from the U.S. Census Bureau, American Community Survey (IPUMS), as published by the New York Fed, to determine unemployment, underemployment, and median wages for different college majors and rank them by unemployment rate. The Mass Media. More about percentile wages. Statistics show that the unemployment rate for recent college graduates has been steadily moving upward, while the general unemployment rate for all … Graduates in mechanical, industrial, aerospace, and chemical engineering all have unemployment rates below 4%, while graduates in Engineering Technologies have an unemployment rate of 5.5%. And 103,151 online job postings over the … Although English majors might enter a variety of fields that involve reading and writing, there is no clear career track as with pre-professional programs like nursing or engineering. Perhaps doubling that with another major would have been a better decision career-wise? Unemployment, underemployment and wage data is from the U.S. Census Bureau, American Community Survey (IPUMS), republished by the Federal Reserve Bank of New York. The unemployment rate for associate’s degree holders in the US is 3.5%. Almost two-thirds of Mass Media graduates are either unemployed or underemployed. The early-career median wage for Earth Sciences majors is $40,000. The degree program mostly deals with biology, chemistry and physics. https:// ensures that you are connecting to the official website and that any Other potentially surprising majors grappling with unemployment include actuarial science, which had an unemployment rate of 5.1 percent, as well as mathematics and computer science, at 4.5 percent. was sourced directly from the U.S. Census Bureau, American Community Survey (IPUMS) and only includes people aged 22 to 27. These estimates are calculated with data collected from employers in all industry sectors, all metropolitan and nonmetropolitan areas, and all states and the District of Columbia. A May 2013 study from the Georgetown University Center on Education and the Workforce reveals that students who studied architecture have a high unemployment rate of 12.8 percent among recent college graduates, defined as those between ages 22 and 26 with bachelor degrees. The U.S. unemployment rate was 3.7% as of July 2019, according to the U.S. Bureau of Labor Statistics, and the unemployment rate for Bachelor’s degree recipients was 2.2%. Many graduates who studied English find themselves underemployed or unemployed, leading to a low median wage of $35,000. college majors Newsletter Given the job environment today, Biochemists and Biophysicists can consider themselves quite lucky, as only 3.0% are currently unemployed. This discipline has the highest unemployment rate of any STEM fields listed here. This list shows the spot unemployment rate for each major, obtained from the 27,480 alumni who have taken our survey. Employment Opportunities; Chemical engineers are hired at major companies that include pharmaceutical companies and laboratories. For a list of all industries with employment in this occupation, see the Create Customized Tables function. College majors that are hampered by high unemployment rates include a variety of psychology degrees, fine arts and architecture. The analysis indicates that most of the majors with high unemployment are in the humanities, social sciences, and fine arts. In this category, I used information from the NCES to consider the lowest-value majors. While the majority of college majors have unemployment rates of 3% or lower, there are others with jobless numbers closer to 9%. Their average unemployment rate is 4 to 7 percent. The Number of recent graduates was sourced directly from the U.S. Census Bureau, American Community Survey (IPUMS) and only includes people aged 22 to 27. This statistic shows the unemployment rate of recent graduates in the United States from January 2016 to September 2020. Photo Credit: Cultura Creative (RF) / Alamy Stock Photo. Here is how you know. The Salary and Employment Status Survey (also known as the Comprehensive Salary Survey) is conducted annually among domestic ACS members under 70 years old and not student-, retired-, or emeritus-status members. The unemployment rate for high school degree holders in the US is 4.3%. Georgetown's recent survey provides insight into the salary and unemployment prospects by college major. https://www.creditsesame.com/blog/education/college-majors-with-highest-unemployment/, Although the unemployment rate for college graduates is significantly lower than the overall rate, Credit Sesame wanted to see how unemployment statistics vary by college major. Although the unemployment rate for college graduates is significantly lower than the overall rate, Credit Sesame wanted to see how unemployment statistics vary by college major. Over the last 20 years, employment rates are either flat or down in each major discipline, from computer science to chemistry. (1) Estimates for detailed occupations do not sum to the totals because the totals include occupations not shown separately. Excludes “Biochemists and Biophysicists” (19-1021) and “Geoscientists, Except Hydrologists and Geographers” (19-2042). This graph depicts the mean unemployment rates by major category, using the college_with_divisions data frame again. Other OES estimates and related information: May 2019 National Occupational Employment and Wage Estimates, May 2019 State Occupational Employment and Wage Estimates, May 2019 Metropolitan and Nonmetropolitan Area Occupational Employment and Wage Estimates, May 2019 National Industry-Specific Occupational Employment and Wage Estimates, Division of Occupational Employment Statistics, NATIONAL INDUSTRY-SPECIFIC AND BY OWNERSHIP, Pharmaceutical and Medicine Manufacturing, Scientific Research and Development Services, Architectural, Engineering, and Related Services, Chemical Manufacturing (3251, 3252, 3253, and 3259 only), Federal Executive Branch (OES Designation), Chemical Manufacturing (3255 and 3256 only), Philadelphia-Camden-Wilmington, PA-NJ-DE-MD, Washington-Arlington-Alexandria, DC-VA-MD-WV, Balance of Lower Peninsula of Michigan nonmetropolitan area, West Texas Region of Texas nonmetropolitan area, Mountain North Carolina nonmetropolitan area, Coastal Plains Region of Texas nonmetropolitan area, North Texas Region of Texas nonmetropolitan area. Unemployment Rate: 6.22% Next up on our top 10 list of majors with the highest unemployment rate is foreign languages. College Majors with High Unemployment Rates. Graphic design and history majors are doing a little better, with unemployment rates for recent grads near 10 … The list is ordered by unemployment rate. Students who graduate with a degree in Fine Arts also have one of the lowest median wages, at $32,000. Also, the study basically confirms what we already know; business, engineering, and computer related majors enjoy the highest wages. Fine Arts, Drama And Theater Arts, Music, and Visual And Performing Arts represent some of the various majors within the Art major category. A deeper dive into the data suggests that not all majors are valued equivalently in the workplace. A location quotient greater than one indicates the occupation has a higher share of employment than average, and a location quotient less than one indicates the occupation is less prevalent in the area than average. However, the median annual earnings of these 25- to 29-year-olds, in constant 2018 dollars, were not measurably different between these two years. The number of surveys, years, major, motivation levels and tenacity all play a role in employment rates, and overall employability. This is a significant decrease from the peak 10% unemployment in October 2009, at the height of the recession. A Pumpkin Spice Latte Can Affect My Credit Score? The Starting Salaries of … In the event of a tie, the major with the highest underemployment rate was ranked higher. Mass Media majors have an unemployment rate of 7.8%. The data shown represents 2015-2016 averages and only includes people aged 22 to 27 with a bachelor’s degree or higher. 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