In 2023, recent graduates in anthropology, physics, and computer engineering experienced significant unemployment challenges, with anthropology grads facing the highest at 9.4%. The Federal Reserve Bank of New York analyzed graduation rates and job prospects across 73 majors, revealing that 28 had unemployment rates above 3.6%. Although computer-related fields also saw high unemployment, employed graduates had better job alignment with their degrees. Economists recommend that graduates leverage networks and focus on areas with hiring demand, highlighting the continued appeal of tech due to high potential salaries.
The Federal Reserve Bank of New York analyzed the unemployment rates of recent college graduates, defined as 22- to 27-year-olds with a bachelor's degree or higher, by major. The analysis used data from the Census Bureau's 2023 American Community Survey covering 73 majors and subject groups.
Recent anthropology graduates had a rate of 9.4%, the highest rate, followed by physics at 7.8%. Recent computer engineering and computer science graduates also had high unemployment.
Daniel Zhao, lead economist at job platform Glassdoor, emphasized the appeal of computer science and engineering due to high potential salaries despite the challenges in the job market.
According to Jaison Abel, head of microeconomics at the New York Fed, the tech sector tends to hire many recent college graduates, although it has shown some overall weakness from mid-2022.
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