The economic downturn of the past several years has made a significant impact on employment and career prospects for an entire generation of Americans of different education levels.
This generation of young adults – those ages 21 to 35 – thought a degree was a guarantee to securing a job. Labeled as members of the “underemployed generation,” they often have jobs unrelated to their desired career path – and earn much less than they otherwise would.
The current level of underemployment for many in this generation has fundamentally changed American society and forced them to rethink the benefits of a post-secondary degree. With a competitive job market, young adults are seeking career-focused education as a means to secure employment in high-demand fields such as healthcare, technology and business.
In February 2013, FTI Consulting surveyed 1,279 underemployed Americans ages 21-35 who met the following criteria:
• Are currently unemployed, looking for work and workforce skills acquisition; or
• Are working in a job that does not require their current level of education; or
• Are working in a job that requires their current level of education, but are seriously considering a career change that would require additional training or a new degree
Among the key findings: Many young Americans have education-related regrets and lack enthusiasm for their current – and often “mismatched” – jobs. The survey also examined the realities of today’s job market, which favors those with practical skills and experience.
