2020 college graduates faced bumpy road as pandemic affected employment options

The college class of 2020, like every other one before and after, eagerly anticipated entering the workforce. Just a few month before spring graduation, however, the pandemic began, and the workplace has yet to fully recover.

The National Association of Colleges and Employers recently analyzed what happened to the class, examining what should have been the initial step into professional life for many new graduates. This research provides a baseline for assessing how graduates at all degree levels fared within six months of graduation.

Associate degrees. The outcomes rate of 83.9 percent is down from the high set by the class of 2019 (89 percent) but still well above that recorded for the class of 2018 (79 percent).  Employment outcomes actually were higher in 2020 than they were in 2019. More than 43 percent of 2020 graduates reported being employed full time, compared with just less than 41 percent for the class of 2019.

The percentage of the class pursuing continuing education in 2020 decreased significantly compared with 2019. In 2020, the percentage pursuing continuing education was slightly more than 31 percent. In 2019, nearly 40 percent pursued continuing education.

Bachelor’s degrees. Students graduating in 2020 had a difficult year. The outcomes rate for 2020 was 82.4 percent, down significantly from 86 percent in 2019. In fact, the rate was the lowest recorded since the association began reporting outcomes with the class of 2014.

The overall  drop was driven by the decline in full-time employment outcomes. Only 53.6 percent of the class was employed full time six months after graduation. By comparison  comparison, 59 percent of the class of 2019, 58.7 percent of the class of 2018 and 57.8 percent of the class of 2017 were employed within the same timeframe.

Somewhat lessening the effect of employment decline was an increase in the percent moving on to continuing education to pursue either an advanced degree or a certificate. Just more than 21 percent of the class of 2020 pursued continuing education as their first destination after receiving a bachelor’s degree. This compares with 18.6 percent who went on to continuing education in 2019.

Master’s degrees. As was the case with bachelor’s level outcomes, the employment outcomes for the master’s degree declined in 2020 in comparison with 2019. Overall full-time employment declined from 75.5 percent for the class of 2019 to 72.5 percent for the class of 2020. Full-time employment in standard employment settings dropped a bit more, from 69.4 percent in 2019 to 66 percent in 2020.

Doctoral degrees.  The overall outcomes rate declined from slightly less than 93 percent in 2019 to 89.3 percent in 2020. The class of 2020 had the lowest outcomes rate for any graduation group since the class of 2015, except for the class of 2016 (89 percent).   Full-time employment decreased from 82 percent in 2019 to 80 percent in 2020. Again, this is the lowest rate recorded except for the class of 2016 (79.6 percent).