The Pew Center on the States released an important study this week analyzing how the economic downturn has affected three groups of students 1) high school graduates 2) associate degree recipients and 3) college graduates. The report focused exclusively on students who graduated or entered the workforce during the economic downturn.
The goal was to explore how the recession has uniquely impacted each group of students and if a college degree conferred the same advantage it did before the economic downturn. Using data from the 2003–2011 Current Population Survey for 21- through 24-year-olds, it reveals that a four-year college degree helped shield recent graduates from a range of poor outcomes during the Great Recession, including unemployment, low-skill jobs, and lesser wages.
Key Findings
- Although all 21–24-year-olds experienced declines in employment and wages during the recession, the decline was considerably more severe for those with only high school or associate degrees.
- The comparatively high employment rate of recent college graduates was not driven by a sharp increase in those settling for lesser jobs or lower wages.
- The share of non-working graduates seeking further education did not change markedly during the recession.
- Out-of-work college graduates were able to find jobs during the downturn with more success than their less-educated counterparts.
To access the full Pew Center on the States report: http://www.pewstates.org/research/reports/how-much-protection-does-a-co…