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Degree holders remain unaffected by Recession hit job markets in USA

Degree holders remain unaffected by Recession hit job markets in USA

The US job market hit by economic recession is taking its toll on less educated people or people who have not completed their graduation. A study conducted by Georgetown University revealed that Americans who did not have formal education or were less educated lost more jobs compared to those with a formal undergraduate degree. 4.5% unemployment was recorded among graduates who had pursued a 4 year course while recent graduates recorded a 6.8% rate. A 24% rate was recorded among the sector of fresh graduates holding only a high school diploma.From the initial stages of 2010 to early 2012, people who did not complete their graduation lost approximately 2, 00,000 jobs.

The study was based on information collected by the Bureau of Labor Statistics and the Census Bureau. The whole nation’s workforce population of 140 million was divided into three strata-

  • People possessing a bachelor’s degree, at least
  • People with some education or any associate degree
  • People with no education at all

In the best educated strata, a 5% growth was recorded with no loss of jobs while the least educated witnessed a decline of 10% in job rates. The middle strata also did not register too many job losses instead recorded a growth in the initial stages of 2012.

There has been a growth in differences in employment depending on education since 1980. Industries such as manufacturing, transport and construction have experienced red tapism the most. Men seem to have lost more jobs than women as these sectors predominantly employ the former.

However, the recent figures show that sex disproportion has reduced with women leveraging less from the recovery as they are disproportionately affected by the slump in government recruitment. More men are enrolling to pursue undergraduate degrees to increase their employability rate compared to women.

Source: New York Times

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