Many college graduates are finding themselves taking jobs that do not make use of their degrees, requiring relatively few skills and low levels of education.
A survey of 500,000 young workers determined that about 63 percent of those between the ages of 18 and 29 had a bachelor's degree, but most jobs that college graduates take did not require one, SmartMoney reports. Other studies have made similar findings. The reason for this is that many of the jobs these workers would have taken are occupied by older Americans, according to the news source.
This is partly because employers see older workers as more likely to stay. Their greater experience may also be a factor. Additionally, those who are already established may not be retiring as early as they would have due to financial concerns brought on or contributed to by the recession and the housing crisis, among other things.
The result is higher unemployment and underemployment for young workers, many of whom have their own financial concerns. Employers who do hire from this demographic may find them to be less picky about some job characteristics as a result of their limited options.
The future of the job market
Eventually, the baby boomers occupying many of these positions will retire. It is not entirely clear how gradually or abruptly that might occur. Employers may wish to plan for a gradual transition as the aging of the population forces more of these experienced workers to retire, considering adjustments to their HR management system and any other aspects of the business.
For now, they may have more time to develop an understanding of what younger employees want by considering those applying for positions. With job opportunities limited, those employers who cater effectively to younger workers may be able to secure talent more easily than in the past.
