Unemployment Rates Vary Widely Among Recent College Grads

New study finds unemployment and underemployment levels differ greatly by college major

Published on Feb. 23, 2026

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A new Federal Reserve Bank of New York study analyzed unemployment and underemployment rates among recent college graduates, finding significant disparities across different college majors. While the overall unemployment rate for recent grads stands at 5.6%, certain majors like anthropology, computer engineering, and fine arts experienced much higher jobless rates. Underemployment, defined as working in a job that doesn't require a college degree, also varied widely, with over 50% of recent graduates in fields like criminal justice, performing arts, and fine arts considered underemployed.

Why it matters

The study provides important insights into the current state of the job market for recent college graduates, highlighting how the value and demand for certain skills and degrees can shift over time. As the economy and job landscape evolve, particularly with the rise of AI, some traditionally strong majors are facing new hiring challenges, while other fields like education are seeing relatively low unemployment rates among recent grads.

The details

The study, which analyzed 2024 U.S. Census data, found that recent college graduates (ages 22-27) had an unemployment rate of 5.6%, lower than the 7.8% rate for young workers without a college degree but higher than the 4.2% rate for adults overall. The majors with the highest unemployment rates included anthropology (7.9%), computer engineering (7.8%), fine arts (7.7%), and computer science (7.0%). In contrast, special education (0.7%), miscellaneous education (1.1%), and elementary education (1.2%) had the lowest unemployment rates among recent graduates. The study also looked at underemployment, finding that 42% of recent grads were working in jobs that typically don't require a college degree, with majors in the arts, humanities, and social sciences experiencing the highest rates of underemployment.

  • The data used in the study were drawn from 2024 U.S. Census figures, which were the most recent available.

The players

Federal Reserve Bank of New York

The organization that conducted the study on unemployment and underemployment rates among recent college graduates.

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The takeaway

As the economy and job landscape evolve, particularly with the rise of AI, the study shows that the employment prospects for recent college graduates can vary significantly depending on their chosen field of study. This underscores the importance for students to carefully consider the job market and potential career paths when selecting a college major.