Tuition fees in the United States can be extremely high. Some leading schools have tuition, room and board fees that exceed $ 60,000 per year. Even public schools can cost residents tens of thousands of dollars for a four-year education. A side effect of this is that student debt levels have skyrocketed and it takes some graduates years, if not decades, to pay off student loans. These debt levels lead many students to question whether the university is profitable, in terms of future jobs and income. One answer to the question about student debt levels is which college majors have the best employment levels.
Using data from the 2019 American Community Survey (ACS) from the US Census Bureau, 24/7 Wall St. identified the college major with the lowest unemployment rate. For all workers with a bachelor’s degree, the annual unemployment rate was 2.6% in 2019. For holders of certain diplomas, the unemployment rate is less than 1%.
It’s important to note that since 2019, the U.S. job market has changed dramatically, in large part due to the COVID-19 pandemic. Unemployment has risen from a decades-long low to a record high since the Great Depression in just a few months, affecting Americans at all levels of education
As student debt skyrockets in the United States, job security in future career prospects is not the only factor for students to consider when choosing a major. The earning potential will also affect the financial situation of college graduates, and many of the most secure jobs don’t necessarily pay well.
The college major with the lowest unemployment rate is soil science. Here are the details:
- Unemployment rate: 0.0%
- Average salary: $ 47,202
- Holders of an undergraduate degree with a master’s or professional degree or above: 30.7%
- Undergraduate degree holders in the workforce: 6,371
Soil science majors study soil, typically in the context of agriculture, learning the chemical properties of the soil, which soils are best suited for specific crops, weed control, and conservation and maintenance. soil management. Students who choose this major often end up working as advisers to domestic and foreign farmers, analyzing the mineral content of soil samples or specializing in a specific type of crop.
Demand for agricultural science workers is expected to grow faster than average in the coming years, according to the Bureau of Labor Statistics, as pressing new challenges arise from population growth, climate change and increased demand for resources. The unemployment rate among the 6,400 active people who have specialized in soil science is indeed 0%.
Methodology: To determine the college major with the lowest unemployment rate, 24/7 Wall St. examined data on employment status and undergraduate major from the sample summary files of public use microdata from ACS 2019. Undergraduate college majors have been ranked based on the number of unemployed with a bachelor’s degree in that major as a percentage of all civilian workforce with that major in 2019 .
Data on earnings and educational attainment also come from the Census Bureau. Data on field of study and employment status were self-reported by survey respondents. To be included in the dataset, respondents must have graduated and have a bachelor’s degree. Although respondents were able to list the field of study for any bachelor’s degree they obtained and were able to list multiple majors, only the first major listed was considered in this analysis.
Majors scored as a diverse subset of a more common field of study were excluded from our analysis.
Click here to see all the university majors with the lowest unemployment rates.