@Canuckguy - Those are both excellent books. Some excerpts:
"One in four of the students surveyed and interviewed for the book reported that they were living at home two years after graduation, a proportion that is nearly double than in the 1960s. More than half said their lives lacked direction. Seven percent reported being unemployed, 12 percent said they had part-time jobs, and 30 percent were working full-time but earning less than $30,000 a year. Half of those graduates were earning less than $20,000.
College selectivity did not significantly affect the graduates’ chances of employment, the authors write, and neither did gender, race or parental education.
Field of study had little effect on the probability of whether a graduate was working an unskilled or skilled occupation two years after graduation – except for students who studied engineering and computer science. While the probability of graduates who studied social sciences, humanities, science, math, and communication working an unskilled job hovered between 14 and 17 percent, the probability for graduates who studied engineering and computer science was just 4 percent.
Field of study did affect the probability of unemployment, with graduates who studied business and STEM-related fields having lower unemployment rates than those who studied social sciences, liberal arts, and the humanities. Business majors had a 2 percent unemployment rate among the graduates surveyed for the book, while social work, education, and health majors were at 8 percent unemployment. Communications majors had an unemployment rate of 9 percent. "
It is very clear that the higher education system is failing a large part of today’s students and parents. There are too many post high school educational institutions in this country, and too many kids are attending schools that they have little chance of graduating from. Too large a percentage of those who graduate study fields that they cannot find meaningful employment, and end up taking jobs they could have gotten without a college degree.