A new study reveals that nearly half of Americans with four-year college degrees are employed in jobs that require less than a bachelor's degree.
The report, “Why Are Recent College Graduates Underemployed? University Enrollments and Labor Market Realities,” published by the nonprofit research group the Center for College Affordability and Productivity, found that about 48 percent of U.S. college graduates are in jobs that require less than a bachelor’s degree, and 37 percent are working in positions that only require a high-school diploma. Instead, they’re taxi drivers, firefighters, sales clerks and telemarketers.
"A lot of people, particularly people with bachelor's degrees, are getting jobs, but not good jobs," said Ohio University economist Richard Vedder, one of the report’s co-authors.
Vedder is a longtime opponent of college for all, arguing that too many Americans go to college since they’re aren’t enough jobs in the economy that require skills taught at college.
Combing through U.S. Bureau of Labor Statistics data, the report’s authors found that about 15 percent of taxi drivers had at least a bachelor's degree in 2010, compared with less than 1 percent of taxi drivers in 1970.