More than half of graduates are likely to find work, according to a new report from the Institute for College Access and Success.
It’s a good sign for graduates looking to earn a degree, says Katie Schulte, president of the non-profit organization.
“It’s encouraging to see that more graduates are entering the workforce, but we need to have more students entering the labor force,” she said.
More than 1 in 5 graduates in the United States were unemployed at the end of the 2014-15 academic year, according the report.
Schulte said that’s a reflection of the nation’s continuing economic challenges, which has created a need for college graduates to find a job.
The report found that the median annual income for graduates of a three-year bachelor’s degree program was $55,000, while the median income for non-graduates was $44,000.
The institute’s research also found that a majority of graduates have never worked.
“There’s an enormous amount of untapped talent, and that talent is really needed,” Schultes said.
In the report, the Institute found that only 8 percent of graduates had a college degree, while 30 percent of non-students had a degree.
A high percentage of graduates also had a high school diploma, while only 3 percent of students had a GED.
While most students need to start their own businesses, the institute found that just 1 in 20 graduates had ever worked at a restaurant, a company, or in the construction industry.