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Within a year of graduating, about 52% of people who recently earned bachelor's degrees in the US are working jobs that don't require a college education, according to a new joint report by two research firms.
The vast majority of underemployed graduates — 88% of them — are working high school-level jobs such as office support, food service, and retail within five years of graduation,
per the report by the data research firms Burning Glass Institute and the Strada Education Foundation.
The report, published on Thursday, was based on a dataset of 60 million people's careers in the US, including those of 10.8 million people with a bachelor's degree.
Its findings present a bleak outlook for new graduates hoping that a degree will guarantee them significantly better opportunities.
While college graduates typically earn more than those with only a high-school education, "a sizable share of graduates do not experience the economic outcome they expected from earning a bachelor's degree," the report said.
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The difference in pay is significant. Underemployed graduates earn about 25% more than workers with only a high school diploma.
But that's far less than they would make if they had found a job that requires a degree. People working college-level jobs earn 88% more than those with only a high school education, the report said.
That means that the typical graduate working a college-level job earns around 50% more than an underemployed graduate, it added.
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