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RECENT GRAD UNDEREMPLOYMENT

percent working in jobs that do not typically require a college degree, ages 22–27 with a bachelor's degree or higher · 1990–2026 · lower is better · Federal Reserve Bank of New York, The Labor Market for Recent College Graduates
42.0%
Jun 2026 (latest)
39.0%
Nov 2022
43.4%
high · Oct 2020
38.1%
low · Jan 2023
+3.0 pts
since Nov 2022
50 YearsSince 200010 Years5 Years1 Year
40.4%41.7%43.0%44.4%201620182020202220242026 COVID-19 pandemic (2020)’20
┊ on the monthly chart the dashed line marks ChatGPT released (Nov 30, 2022); on the annual views, 1991 Gulf War recession · 2001 Dot-com bust & 9/11 · 2008 Global financial crisis · 2020 COVID-19 pandemic
Method & caveats. Share of employed recent college graduates (ages 22–27, bachelor's or higher) working in a job that does not typically require a college degree, by the New York Fed's O*NET-based classification of occupations, from CPS microdata, monthly from January 1990 (seasonally adjusted moving average), published quarterly. Annual figure is the twelve-month average.
Sources

Every value on this page is read from the publisher below. Current and historical source documents:

Monthly data

The publisher's own cadence, every period. The annual table below is derived from these values (annual average); the annual figures are what the almanac pages and the machine-readable exports carry.

PeriodRecent Grad UnderemploymentChange
Jun 202642.0%+0.1 pts
May 202641.8%+0.2 pts
Apr 202641.6%+0.1 pts
Mar 202641.5%−0.1 pts
Feb 202641.6%−0.3 pts
Jan 202641.9%−0.4 pts
Dec 202542.3%−0.1 pts
Nov 202542.4%+0.2 pts
Oct 202542.2%+0.4 pts
Sep 202541.8%+0.1 pts
Aug 202541.7%−0.1 pts
Jul 202541.9%+0.4 pts
Jun 202541.5%+0.3 pts
May 202541.2%−0.1 pts
Apr 202541.2%−0.1 pts
Mar 202541.3%+1.1 pts
Feb 202540.2%+1.1 pts
Jan 202539.2%+0.5 pts
Dec 202438.6%−0.6 pts
Nov 202439.2%−0.5 pts
Oct 202439.7%−0.8 pts
Sep 202440.4%−0.3 pts
Aug 202440.7%+0.0 pts
Jul 202440.7%−0.0 pts
Jun 202440.7%+0.2 pts
May 202440.5%−0.2 pts
Apr 202440.7%−0.0 pts
Mar 202440.7%−0.2 pts
Feb 202440.9%+0.1 pts
Jan 202440.8%+0.4 pts
Dec 202340.4%+0.1 pts
Nov 202340.3%−0.1 pts
Oct 202340.3%+0.2 pts
Sep 202340.1%−0.4 pts
Aug 202340.5%+0.5 pts
Jul 202340.1%−0.0 pts
Jun 202340.1%+0.8 pts
May 202339.3%−0.2 pts
Apr 202339.5%+0.2 pts
Mar 202339.3%+0.8 pts
Feb 202338.5%+0.4 pts
Jan 202338.1%−0.2 pts
Dec 202238.3%−0.7 pts
Nov 202239.0%−0.6 pts
Oct 202239.6%+0.0 pts
Sep 202239.5%−0.6 pts
Aug 202240.1%−0.0 pts
Jul 202240.1%−0.7 pts
Jun 202240.8%−0.2 pts
May 202241.0%−0.1 pts
Apr 202241.2%+0.0 pts
Mar 202241.1%−0.2 pts
Feb 202241.3%−0.2 pts
Jan 202241.5%−0.1 pts
Dec 202141.6%+0.0 pts
Nov 202141.6%−0.0 pts
Oct 202141.6%+0.2 pts
Sep 202141.4%+0.2 pts
Aug 202141.3%+0.5 pts
Jul 202140.7%+0.1 pts
Jun 202140.7%+0.1 pts
May 202140.5%+0.1 pts
Apr 202140.5%+0.3 pts
Mar 202140.1%+0.1 pts
Feb 202140.0%−0.2 pts
Jan 202140.3%−0.6 pts
Dec 202040.9%−1.4 pts
Nov 202042.3%−1.1 pts
Oct 202043.4%+0.4 pts
Sep 202043.0%+1.9 pts
Aug 202041.1%+2.0 pts
Jul 202039.1%+1.0 pts
Jun 202038.1%−0.8 pts
May 202039.0%−1.5 pts
Apr 202040.5%−1.1 pts
Mar 202041.6%+0.3 pts
Feb 202041.3%+0.0 pts
Jan 202041.3%−0.3 pts
Dec 201941.5%−1.0 pts
Nov 201942.6%+0.5 pts
Oct 201942.1%+0.6 pts
Sep 201941.4%+1.0 pts
Aug 201940.4%−0.5 pts
Jul 201940.9%−0.4 pts
Jun 201941.2%−0.3 pts
May 201941.5%+0.4 pts
Apr 201941.1%−0.2 pts
Mar 201941.3%−0.5 pts
Feb 201941.8%−0.5 pts
Jan 201942.3%−0.1 pts
Dec 201842.5%+0.6 pts
Nov 201841.9%+0.9 pts
Oct 201841.0%+0.6 pts
Sep 201840.4%−0.4 pts
Aug 201840.8%−0.4 pts
Jul 201841.2%−0.8 pts
Jun 201842.0%+0.1 pts
May 201841.9%+0.0 pts
Apr 201841.9%+0.2 pts
Mar 201841.7%+0.1 pts
Feb 201841.6%−0.5 pts
Jan 201842.2%−0.9 pts
Dec 201743.1%−0.3 pts
Nov 201743.4%−0.2 pts
Oct 201743.6%+0.6 pts
Sep 201743.0%+0.2 pts
Aug 201742.9%+0.0 pts
Jul 201742.8%−0.3 pts
Jun 201743.2%−0.6 pts
May 201743.8%−0.4 pts
Apr 201744.2%−0.4 pts
Mar 201744.5%−0.4 pts
Feb 201744.9%+0.4 pts
Jan 201744.5%+0.6 pts
Dec 201643.9%+0.4 pts
Nov 201643.4%−0.4 pts
Oct 201643.9%−0.4 pts
Sep 201644.2%+0.5 pts
Aug 201643.7%+0.2 pts
Jul 201643.5%+0.3 pts
Jun 201643.3%−0.3 pts
May 201643.6%+0.3 pts
Apr 201643.3%−0.6 pts
Mar 201643.8%−1.2 pts
Feb 201645.0%−1.3 pts
Jan 201646.4%−0.2 pts
Dec 201546.6%+1.3 pts
Nov 201545.3%+0.8 pts
Oct 201544.5%+0.8 pts
Sep 201543.7%−0.8 pts
Aug 201544.5%−0.3 pts
Jul 201544.8%−0.4 pts
Jun 201545.2%−0.4 pts
May 201545.6%+0.2 pts
Apr 201545.5%+0.1 pts
Mar 201545.4%+1.0 pts
Feb 201544.4%+0.6 pts
Jan 201543.8%+0.3 pts
Dec 201443.5%+0.3 pts
Nov 201443.2%−0.6 pts
Oct 201443.7%−0.8 pts
Sep 201444.5%−1.5 pts
Aug 201446.1%−0.3 pts
Jul 201446.4%+0.2 pts
Jun 201446.1%+0.6 pts
May 201445.6%+0.3 pts
Apr 201445.3%+0.0 pts
Mar 201445.2%−0.4 pts
Feb 201445.6%−0.3 pts
Jan 201445.8%−0.8 pts
Dec 201346.6%−0.4 pts
Nov 201347.0%−0.4 pts
Oct 201347.4%+0.3 pts
Sep 201347.1%+0.8 pts
Aug 201346.3%−0.4 pts
Jul 201346.7%+0.2 pts
Jun 201346.5%−0.4 pts
May 201347.0%+1.1 pts
Apr 201345.9%+0.0 pts
Mar 201345.8%+0.1 pts
Feb 201345.8%+0.2 pts
Jan 201345.5%+0.6 pts
Dec 201244.9%+0.3 pts
Nov 201244.6%−0.0 pts
Oct 201244.7%−0.4 pts
Sep 201245.1%−0.2 pts
Aug 201245.3%+0.0 pts
Jul 201245.3%+0.1 pts
Jun 201245.2%−0.4 pts
May 201245.6%−0.9 pts
Apr 201246.5%−0.8 pts
Mar 201247.3%−0.2 pts
Feb 201247.4%+0.8 pts
Jan 201246.6%+1.2 pts
Dec 201145.5%+1.4 pts
Nov 201144.1%+0.4 pts
Oct 201143.7%+0.4 pts
Sep 201143.4%−0.3 pts
Aug 201143.6%−0.4 pts
Jul 201144.0%−0.0 pts
Jun 201144.0%+0.8 pts
May 201143.3%+0.5 pts
Apr 201142.8%−0.6 pts
Mar 201143.4%−1.0 pts
Feb 201144.4%−1.0 pts
Jan 201145.4%−0.4 pts
Dec 201045.8%−0.3 pts
Nov 201046.1%−0.0 pts
Oct 201046.1%+0.2 pts
Sep 201045.9%+0.1 pts
Aug 201045.9%+0.1 pts
Jul 201045.8%+0.3 pts
Jun 201045.5%+0.4 pts
May 201045.1%+0.3 pts
Apr 201044.8%+0.1 pts
Mar 201044.7%+0.1 pts
Feb 201044.6%+0.0 pts
Jan 201044.6%−0.0 pts
Dec 200944.6%+0.0 pts
Nov 200944.6%+0.5 pts
Oct 200944.1%−0.1 pts
Sep 200944.3%+0.2 pts
Aug 200944.1%+0.3 pts
Jul 200943.8%+0.2 pts
Jun 200943.6%−0.0 pts
May 200943.6%−0.5 pts
Apr 200944.1%−0.1 pts
Mar 200944.3%−0.3 pts
Feb 200944.5%+0.2 pts
Jan 200944.3%+0.6 pts
Dec 200843.8%+0.4 pts
Nov 200843.4%+0.0 pts
Oct 200843.3%+0.3 pts
Sep 200843.0%+0.5 pts
Aug 200842.5%+0.2 pts
Jul 200842.3%−0.6 pts
Jun 200842.9%−0.6 pts
May 200843.5%+0.4 pts
Apr 200843.0%+1.2 pts
Mar 200841.8%+0.9 pts
Feb 200840.9%+0.3 pts
Jan 200840.6%−0.2 pts
Dec 200740.8%−0.5 pts
Nov 200741.3%−0.7 pts
Oct 200742.0%−0.5 pts
Sep 200742.5%+0.2 pts
Aug 200742.3%+0.5 pts
Jul 200741.8%+0.5 pts
Jun 200741.3%−0.4 pts
May 200741.6%−0.4 pts
Apr 200742.0%−0.6 pts
Mar 200742.6%−0.4 pts
Feb 200743.0%−0.2 pts
Jan 200743.2%−0.2 pts
Dec 200643.4%−0.0 pts
Nov 200643.4%−0.1 pts
Oct 200643.6%+0.1 pts
Sep 200643.5%−0.2 pts
Aug 200643.6%+0.2 pts
Jul 200643.4%+0.4 pts
Jun 200643.0%+0.9 pts
May 200642.1%+0.3 pts
Apr 200641.9%−0.7 pts
Mar 200642.5%−0.9 pts
Feb 200643.5%−0.5 pts
Jan 200644.0%+0.1 pts
Dec 200543.9%+0.7 pts
Nov 200543.2%+0.4 pts
Oct 200542.8%+0.1 pts
Sep 200542.7%+0.1 pts
Aug 200542.6%−0.2 pts
Jul 200542.8%+0.1 pts
Jun 200542.6%−0.1 pts
May 200542.7%−0.6 pts
Apr 200543.3%+0.0 pts
Mar 200543.2%−0.5 pts
Feb 200543.7%−0.4 pts
Jan 200544.1%−0.8 pts
Dec 200444.8%−0.3 pts
Nov 200445.1%+0.5 pts
Oct 200444.6%+0.6 pts
Sep 200444.0%+0.4 pts
Aug 200443.7%−0.3 pts
Jul 200444.0%−0.9 pts
Jun 200444.8%−0.7 pts
May 200445.5%−0.0 pts
Apr 200445.5%+0.8 pts
Mar 200444.8%+1.4 pts
Feb 200443.3%+1.1 pts
Jan 200442.3%+1.1 pts
Dec 200341.2%−0.2 pts
Nov 200341.4%−0.4 pts
Oct 200341.8%−0.6 pts
Sep 200342.4%−0.1 pts
Aug 200342.5%+0.1 pts
Jul 200342.4%−0.0 pts
Jun 200342.4%+0.1 pts
May 200342.4%+0.8 pts
Apr 200341.5%+1.0 pts
Mar 200340.5%+1.2 pts
Feb 200339.4%+0.5 pts
Jan 200338.8%+0.9 pts
Dec 200238.0%+0.4 pts
Nov 200237.6%+0.1 pts
Oct 200237.6%−0.4 pts
Sep 200237.9%−0.2 pts
Aug 200238.1%+0.0 pts
Jul 200238.1%+0.3 pts
Jun 200237.9%−0.6 pts
May 200238.5%−0.3 pts
Apr 200238.8%−1.2 pts
Mar 200240.0%+0.2 pts
Feb 200239.8%+0.2 pts
Jan 200239.5%+1.0 pts
Dec 200138.5%+0.6 pts
Nov 200138.0%+0.1 pts
Oct 200137.9%−0.5 pts
Sep 200138.4%−0.3 pts
Aug 200138.7%+0.0 pts
Jul 200138.7%+0.8 pts
Jun 200137.9%+0.6 pts
May 200137.2%+0.7 pts
Apr 200136.6%−0.1 pts
Mar 200136.7%−0.7 pts
Feb 200137.4%−0.5 pts
Jan 200137.9%−0.9 pts
Dec 200038.8%+0.0 pts
Nov 200038.8%+0.1 pts
Oct 200038.6%+0.7 pts
Sep 200037.9%+0.8 pts
Aug 200037.1%−0.7 pts
Jul 200037.8%−0.3 pts
Jun 200038.0%−1.1 pts
May 200039.1%+0.3 pts
Apr 200038.9%+0.3 pts
Mar 200038.5%+0.5 pts
Feb 200038.0%+0.2 pts
Jan 200037.9%−0.1 pts
Dec 199938.0%−0.3 pts
Nov 199938.3%−0.1 pts
Oct 199938.4%+0.2 pts
Sep 199938.2%+0.1 pts
Aug 199938.1%−0.4 pts
Jul 199938.5%−1.0 pts
Jun 199939.5%−0.5 pts
May 199940.0%−0.6 pts
Apr 199940.7%−0.1 pts
Mar 199940.7%−0.8 pts
Feb 199941.5%−0.1 pts
Jan 199941.6%−0.2 pts
Dec 199841.8%+0.1 pts
Nov 199841.7%+0.5 pts
Oct 199841.2%+0.4 pts
Sep 199840.9%+0.4 pts
Aug 199840.4%+0.4 pts
Jul 199840.1%+0.4 pts
Jun 199839.6%+0.4 pts
May 199839.3%−0.2 pts
Apr 199839.4%−0.7 pts
Mar 199840.2%−0.6 pts
Feb 199840.7%−1.0 pts
Jan 199841.7%−0.2 pts
Dec 199741.9%−0.2 pts
Nov 199742.1%+1.2 pts
Oct 199741.0%−0.3 pts
Sep 199741.2%+0.4 pts
Aug 199740.8%−0.5 pts
Jul 199741.3%+0.3 pts
Jun 199741.0%−0.4 pts
May 199741.4%−0.2 pts
Apr 199741.6%−0.4 pts
Mar 199741.9%−0.1 pts
Feb 199742.0%−0.6 pts
Jan 199742.6%−0.0 pts
Dec 199642.6%−0.2 pts
Nov 199642.8%−0.0 pts
Oct 199642.8%−0.4 pts
Sep 199643.2%−0.7 pts
Aug 199643.9%−0.5 pts
Jul 199644.4%+0.2 pts
Jun 199644.2%+0.4 pts
May 199643.8%+0.5 pts
Apr 199643.4%+0.8 pts
Mar 199642.6%+0.5 pts
Feb 199642.1%−0.0 pts
Jan 199642.1%−0.6 pts
Dec 199542.8%−0.8 pts
Nov 199543.5%−0.6 pts
Oct 199544.2%−0.1 pts
Sep 199544.3%−0.1 pts
Aug 199544.4%+0.2 pts
Jul 199544.2%−0.4 pts
Jun 199544.6%−0.2 pts
May 199544.8%−0.2 pts
Apr 199545.0%+0.1 pts
Mar 199544.9%−0.0 pts
Feb 199544.9%+0.2 pts
Jan 199544.7%−0.1 pts
Dec 199444.8%+0.4 pts
Nov 199444.4%−0.1 pts
Oct 199444.5%−0.9 pts
Sep 199445.4%−1.2 pts
Aug 199446.5%−0.7 pts
Jul 199447.2%+0.1 pts
Jun 199447.1%+0.3 pts
May 199446.8%−0.5 pts
Apr 199447.3%−0.6 pts
Mar 199447.9%−0.2 pts
Feb 199448.1%+0.5 pts
Jan 199447.6%+0.9 pts
Dec 199346.7%+0.2 pts
Nov 199346.5%−0.1 pts
Oct 199346.6%−0.2 pts
Sep 199346.8%+0.0 pts
Aug 199346.8%+0.3 pts
Jul 199346.5%+0.0 pts
Jun 199346.4%+0.5 pts
May 199345.9%+0.1 pts
Apr 199345.8%+0.0 pts
Mar 199345.8%−1.1 pts
Feb 199346.9%−0.7 pts
Jan 199347.6%−0.8 pts
Dec 199248.3%−0.1 pts
Nov 199248.4%+0.3 pts
Oct 199248.1%+0.5 pts
Sep 199247.7%+0.4 pts
Aug 199247.3%+0.0 pts
Jul 199247.2%−0.1 pts
Jun 199247.3%−0.4 pts
May 199247.7%−0.3 pts
Apr 199248.0%+0.4 pts
Mar 199247.6%+1.3 pts
Feb 199246.4%+0.9 pts
Jan 199245.5%+0.2 pts
Dec 199145.2%−0.2 pts
Nov 199145.4%+0.8 pts
Oct 199144.6%−0.0 pts
Sep 199144.6%+0.3 pts
Aug 199144.4%−0.5 pts
Jul 199144.8%+0.7 pts
Jun 199144.1%+0.4 pts
May 199143.7%+0.2 pts
Apr 199143.5%−0.4 pts
Mar 199143.9%−0.8 pts
Feb 199144.6%+0.0 pts
Jan 199144.6%−0.0 pts
Dec 199044.6%+0.3 pts
Nov 199044.3%+0.1 pts
Oct 199044.1%+0.2 pts
Sep 199043.9%+0.1 pts
Aug 199043.8%−0.6 pts
Jul 199044.4%−0.6 pts
Jun 199045.0%+0.3 pts
May 199044.8%+0.2 pts
Apr 199044.5%+1.3 pts
Mar 199043.3%+0.0 pts
Feb 199043.2%+0.3 pts
Jan 199042.9%
Annual data
YearRecent Grad UnderemploymentChange
202641.7%+0.3 pts
202541.4%+1.1 pts
202440.3%+0.6 pts
202339.7%−0.6 pts
202240.3%−0.6 pts
202140.9%−0.1 pts
202041.0%−0.5 pts
201941.5%−0.1 pts
201841.6%−2.1 pts
201743.7%−0.4 pts
201644.0%−0.9 pts
201544.9%−0.1 pts
201445.1%−1.4 pts
201346.5%+0.8 pts
201245.7%+1.8 pts
201143.9%−1.5 pts
201045.4%+1.2 pts
200944.2%+1.6 pts
200842.6%+0.6 pts
200742.0%−1.1 pts
200643.2%+0.0 pts
200543.1%−1.2 pts
200444.4%+3.0 pts
200341.4%+2.9 pts
200238.5%+0.6 pts
200137.8%−0.5 pts
200038.3%−1.2 pts
199939.5%−1.1 pts
199840.6%−1.0 pts
199741.6%−1.6 pts
199643.1%−1.2 pts
199544.4%−2.1 pts
199446.5%−0.1 pts
199346.5%−0.9 pts
199247.5%+3.0 pts
199144.5%+0.4 pts
199044.1%
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