Today we’re going to be talking about the Top 5 Majors with the Highest Unemployment Rates in 2021 in the USA, right. So these are college degrees that people get, and they’re much more likely to end up being unemployed, before we get into the specific majors, let’s talk about the type of degree.
So when it comes to unemployment rates, you’re going to notice that the type of degree whether it’s an Associate or Bachelor’s, or a Master’s, or a Doctorate, is going to have different levels of unemployment.
Top 5 Majors with the Highest Unemployment Rates in 2021 in the USA
So in 2020, for instance, the latest statistics from the Bureau of Labor Statistics, if you had less than a High School Diploma, you’re probably going to have an unemployment rate of around 11.7%. On average, for the average person with a high school diploma, it was about 9%.
Some college but No Degree, it was 8.3% and Associate’s degree was about 7.1%, a Bachelor degree was 5.5%, a Master’s degree was 4.1%, a Professional degree, which would be like a, you know, a lawyer, like a Pharm.D, something along those lines, that was 3.1%.
Then the type of degree that had the lowest unemployment rate was a doctoral degree at 2.5%. So this clearly goes to show that the higher level of education that you have, generally speaking, you’re more likely to be employed. Now looking at data that was collected before 2020.
Obviously, that kind of threw things off, it was very similar.
If you look at this data, you know, you see a lot of engineering degrees, having low levels of unemployment, accounting degrees, you know, 2.3%, here, finance 2.1%, nursing 1.7%, education degrees actually came out on top as a group as you know, 0.9%, for education, other general education was 1.4%.
Now, the way they collected this data, first of all, they only used a very common degree. And then second of all, they kind of bunched a bunch of different degrees together that maybe they shouldn’t have, like General Medical and Health Services, a 2.3%.
Top 5 Majors with the Highest Unemployment Rates in 2021 in the USA Details
That could be so many different degrees. But it’s kind of nice to see a trend here you see a lot of business degrees, a lot of science degrees, math degrees, engineering degrees, and technology degrees, not so surprising.
Then the average for a 25 to 29-year-old with a bachelor’s degree was about a 2.9% unemployment rate. Now, when you dive a little bit more deeply into the data, and you look at specific degrees.
5. Majors in Construction Services
This is what you’re going to find the number five major with the highest unemployment rate is going to be Construction Services. So the unemployment rate again, this was taken before the whole situation in the world.
So these numbers are not going to be exactly the same. But it was 6.1%. More than that the underemployment rate of this degree was 34%.
Underemployment is basically when somebody is maybe like working part-time, they don’t have a full-time job, or they are working in a career that’s completely unrelated to their degree.
Now on top of that, the share of people who graduate with their bachelor’s and end up getting a graduate degree is about 10%, which is pretty low.
4. Majors in Philosophy
Number four is going to be Philosophy, the unemployment rate is going to be about 6.2%. However, the underemployment rate is an astronomical 50.9%. So a lot of people who graduate with a philosophy degree end up doing something that has nothing to do with philosophy.
Now, if you look at the number of people who graduate with a philosophy degree, and then they end up going on to grad school, either to you know, get a Master’s in Philosophy, a PhD in Philosophy, or become a lawyer or something along those lines, it’s 57.3%.
That in my opinion, when you see numbers that high is a very, very bad sign because that means people are not able to get a job with just a bachelor’s, it’s nice to have the option to go back and get your Masters or your doctorate if that’s something you want to do, but you don’t want to be forced into that situation.
3. Majors in Anthropology
Number three is going to be Anthropology this one has an unemployment rate of 6.6%, then the underemployment rate here is a whopping 59.1%. So it’s actually even worse than philosophy.
So again, a lot of people who graduate with an Anthropology Degree are not able to get a career that has anything to do with anthropology then there is a 46.9% share that goes on to get a graduate-level degree. So again, very, very bad sign when you see something up at like 46.9
The first one we talked about construction services was only 10%.
2. Majors in Liberal Arts
Next on the list number two is going to be Liberal Arts. The unemployment rate here is 6.7%. The underemployment rate is 58% and then the share of students who graduated.
This degree ended up getting a graduate-level degree is around 27%. So not as bad as the other ones, but still a relatively high number.
1. Majors in Mass Media
Number one on the list at 7.8%. Unemployment is going to be Mass Media. The underemployment rate here is 55.2% of the share with a graduate degree is a pretty decent 18.3%. But the unemployment rate of 7.8% is very high. I know that probably doesn’t seem like a big difference.
You know, economists have done studies on the unemployment rates for every 1% the unemployment rates go up sometimes they’ll say like, you know, 50,000 extra people die in the United States, for instance, those aren’t exact numbers.
So don’t quote me on that. But studies are very similar to that like the unemployment rate is very important is what I’m trying to say.