Unemployment Steady, But More Jobs Available for College Graduates

By Catherine Groux
Posted June 01, 2012 09:00 AM

College graduates still have the best chance at finding a job.
College graduates still have the best chance at finding a job.
Although the economy has shown signs of improvement since the 2008 financial crisis began, new data shows that the national unemployment rate failed to decrease in May. According to the U.S. Bureau of Labor Statistics (BLS), the figure remained largely unchanged, hovering at 8.2%.

This information may be discouraging for new college graduates, but statistics indicate that earning a degree still gives individuals a better chance of finding a job, even in a struggling economy. In May, the unemployment rate for Americans with some college or an associate's degree was 7.9%. For those who earned a bachelor's degree or higher, this figure fell significantly to 3.9%.

Additionally, college graduates have the option of choosing a major in a field that has been consistently growing. For example, the BLS report shows that while overall unemployment rates largely remained consistent throughout May, about 33,000 jobs were added in the healthcare industry. Throughout the year, employment in this sector has risen by 340,000 positions.

Additionally, the number of jobs in wholesale trade has risen. The BLS states that about 16,000 jobs were added in this field throughout May, while about 184,000 positions were created in the past year.

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