College graduates in 2019 face higher unemployment, slow wage growth

If the labor market is tight, 2019 is entering the labor force at a time when jobs can be found quickly and easily. However, the slower wage hikes and higher unemployment rates of recent graduates may mean that young people may not find a better job market than they were 20 years ago.

According to a recent study by the Washington Policy Tank Economic Policy Institute, university graduates are experiencing higher unemployment today than in 2000. Color graduates, in particular, face a steep unemployment rate compared to nearly 20 years ago.

  • Asian American / Pacific Islander graduates have an unemployment rate of 7.7{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5}, 1.8{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} higher than in 2000.
  • Black graduates have an unemployment rate of 6.8 percent, 1.2 percent higher than in 2000.
  • Hispanic graduates have an unemployment rate of 6.4{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5}, 1.6{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} higher than in 2000.
  • The unemployment rate for Caucasian graduates is 4.2{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5}, 0.2{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} higher than in 2000.

And the percentage of college graduates who want to work full-time while working part-time increased slightly from 10{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} in 2019, a 3.6{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} increase since 2000.

Wage Gap: The black and white wage gap is widening. It's worse in Texas.

The study found that college graduates' wages recovered from the 2008 recession, with the average wages of college graduates in 2019 surpass those of graduates in 2000. The average hourly wage for graduates employed by inflation adjustments was $ 20.74 per hour in March, compared to $ 19.66 per hour in March 2000.

However, after graduation, men's wages have risen slightly faster than women graduates in the last 20 years. The study found that the gender wage gap for young college graduates increased slightly, with female graduates accounting for 87.1{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} of men in 2019 and 89.3{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} in 2000.

According to the EPI, almost one in five young people has a college degree. People with degrees are disproportionately female, Caucasian or Asian American / Pacific islanders.


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