In May 2014, the Center for Economic Policy and Research published a report entitled “A College Degree is No Guarantee,” which focuses on the experience of black college graduates in the labor market.
Here’s a breakdown of the executive summary: In 2013, the unemployment rate for black college grads between the ages of 22 and 27 was far higher than the overall unemployment rate – 12.5% vs. 5.6%. That 12.5% rate had nearly tripled from 2007 to 2013. Also in 2013, more than half of working black recent college grads were working in jobs that don’t require a college degree.
These statistics reflect both the overall employment problem for recent college grads and, in particular, how much worse the labor market is for black recent college grads. In an attempt to explain the reasons for this problem, the authors of the report review various studies that point to a weak economic recovery and racial discrimination as culprits.
