A recent report from Yahoo Finance indicates that the underemployment rate for college graduates is higher today than it was a decade ago, meaning more grads are taking minimum wage jobs or jobs that they're overqualified for in order to make ends meet.
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You’ve probably done this (or have a friend or colleague who has). You’re in an extended job search but can’t get the interviews or offers you need. Running out of time and money, you take a lower-level role just to cover the bills and keep a roof over your head. Watch: Fighting Against Underemployment The problem, though, is that once you do this, it gets harder to return your career to its pre-search trajectory and salary. Recruiters and hiring managers will tend to perceive your candidacy as tarnished and you’ll find it more difficult than ever to land interviews, let alone win job interviews. Welcome to the Underemployment Trap!
Recently, an alarming article came out on Bloomberg, which addressed the increasing amount of 'underemployed' college graduates. They quoted a study that showed 44% of Americans ages 22 to 27 with a bachelor's degree now work a job that doesn't require their level of education.
Watch: Fighting Against Underemployment
Worse, that number has increased by 10% since 2001... and with more bright-eyed graduates entering the workforce all the time, it's a fair assumption that competition will only continue to increase...
That means that new graduates, who bought into the promise that their degree would grant them access to the inner circle of success, opportunity, and wealth, need to do something else to stand out and avoid the low-wage and part-time positions they're being forced into.