The job market for college graduates continues to improve, according to the latest quarterly report on The Labor Market for Recent College Graduates from the New York Fed Bank.
The unemployment rate for recent college grads, aged 22 to 27, fell to 3.9% in the fourth quarter of last year, its lowest level since the Great Recession and below the 4.7% national jobless rate and 8.6% jobless rate for young workers, according to the New York Fed.
The underemployment rate, which the bank defines as the percentage of graduates in jobs that don't require a college degree, dropped to 43.5%. That seems high at first glance but the underemployment rate, like the jobless rate for recent grads, was also at a post-Great Recession low, according to the NY Fed.
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Bernice Napach
Bernice Napach is a senior writer at ThinkAdvisor covering financial markets and asset managers, robo-advisors, college planning and retirement issues. She has worked at Yahoo Finance, Bloomberg TV, CNBC, Reuters, Investor's Business Daily and The Bond Buyer and has written articles for The New York Times, TheStreet.com, The Star-Ledger, The Record, Variety and Worth magazine. Bernice has a Bachelor of Science in Social Welfare from SUNY at Stony Brook.
