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Study Shows How Recent College Grads Did in the Great Recession

College GraduateStudy after study has shown that if you earn a bachelor’s degree, you’re more likely to get a better job, earn more money and survive layoffs. But what if you just graduated from college? Since the Great Recession began in 2008, we’ve been hearing how tough it is for recent college graduates to find work. Can a bachelor’s degree really help a recent graduate?

Absolutely, according to a new study from Pew Charitable Trusts. The study, titled “How Much Protection Does a College Degree Afford?” looks at how recent graduates have done in today’s economy. The study looks at 21- to 24-year-olds with just high school diplomas, two-year associate degrees or four-year bachelor’s degrees. Looking at employment patterns before, during and after the Great Recession, the study found:

• Before the Great Recession, 69 percent of young bachelor’s degree holders were employed. This compares to 64 percent of associate degree graduates and 55 percent of high school graduates.

• During the Great Recession, employment for young bachelor’s degree holders fell 7 percent. This compares to 11 percent for associate degree graduates and 16 percent for high school graduates.

• Before the Great Recession, young bachelor’s degree holders had twice as many college-level jobs as associate degree holders, and four times as many as high school graduates. After the recession, totals fell just 3 percent for bachelor’s degree holders, but plunged 10 percent for associate degree graduates and 12 percent for high school graduates.

• All three groups experienced some drop in waves as a result of the recession. But, again, the more education, the lower the drop. Between 2007 and 2011, recent bachelor’s degree holders saw their wages fall 5 percent to $645 per week from $681 per week. For young associate degree holders, the drop was 12 percent to $452 per week from $512 per week. And for young people with just a high school diploma, the drop was 10 percent to $394 per week from $438 per week.

“The data here are at odds with media accounts suggesting that young college graduates are finding it much more difficult to get jobs, are accepting much less desirable positions and lower wages when they can get jobs, and are increasingly ‘camping out’ at home and in schools when they cannot get jobs,” the Pew report concludes. “When the comparative lens is applied, it is evident that recent college graduates were well-protected against the worst effects of the recession.”

In other words, getting a bachelor’s degree still pays.

Get Your Bachelor’s Degree from Everest University Online

You can earn a bachelor’s degree without having to leave your current job by getting your degree from Everest University Online, a division of Everest University. Offering flexible schedules that allow you to attend classes in the evening and on weekends, Everest University Online has bachelor’s degree programs in:

  • Accounting
  • Applied Management
  • Business
  • Computer Information Science
  • Criminal Justice
  • Homeland Security
  • Paralegal

Everest University is accredited by the Accrediting Council for Independent Colleges and Schools (ACICS).

For more information on Everest’s online degree programs, contact Everest University Online today.

Financial aid is available for those who qualify.

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