People Who Get A Degree In One Of These 5 Fields Are Most Likely To Stay Employed Post-Graduation, According To A New York Federal Reserve Analysis
By far, it's the people who fix things, analyze things and build things who are the most secure.
fstop123 | Getty Images Signature | Canva Pro With the cost of a bachelor's degree reaching ludicrous heights, many people's chief concern when it comes to choosing a degree field to pursue is simple finances.
However, figuring out which majors are the most likely to have secure employment can be difficult to parse. Luckily, the federal government keeps track of these things, and their report on the unemployment rates of various degree fields provides a helpful strategy for students planning their future.
Here are the 5 degree fields with the lowest unemployment rates, according to the Federal Reserve:
As of July 2024, the national unemployment rate was 4.3% — still within the optimal 3% to 5% targets but up slightly since the month before.
Whether this is indicative of an upward trend remains to be seen, but the good news is that the Federal Reserve of New York's February 2024 analysis shows that even in our chaotic job market, there are certain fields where unemployment is so low — less than 1.5% — it's almost shocking.
So, if you or someone you love is one of the droves of people entering or re-entering college this fall, steering toward one of these five fields just might be the key to a steady, stable career.
1. Nursing
Remember that nursing shortage we heard so much about during the pandemic? Well, it hasn't gone anywhere — the Fed's analysis found that nursing has an unemployment rate of just 1.3% nationally.
That shortage is projected to intensify in the coming years as more and more baby boomers, who make up nearly 21% of the American population, enter old age and retire. That shortage is also due to lots of resignations amid the pandemic and its aftermath, however — it's a hard job that has only gotten harder.
Still, it's not just highly in demand, but many nursing jobs are now coming with sweet incentives like hiring bonuses and free tuition for continuing education. And, if you can be a traveling nurse? The money is even better.
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2. Social workers and other social science careers
You may have noticed that, um, the world and our society seem to be coming apart at the seams. Accordingly, that means jobs in the social sciences are in high demand nowadays.
The field has an unemployment rate of just .6% and includes jobs like social workers, therapists, school counselors, and public health professionals.
Of course, these fields aren't exactly known for being lucrative, but social science degrees also lay the groundwork for careers in everything from law to market research, so there are lots of options to choose from.
3. Medical technology
These jobs include everything from laboratory scientists to X-ray technicians and medical sonographers — many of the myriad jobs in medicine besides doctors and the aforementioned nurses.
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So if you were the type of kid who loved a microscope and can see yourself analyzing blood and tissue samples or helping doctors decipher x-rays and medical imaging, this is the field for you — and with a .4% unemployment rate, you'll likely stay employed regardless of what happens in the economy.
4. Construction services
The construction industry is booming and has a .4% unemployment rate to show for it. The field encompasses everything from the various specialties involved in building roads, bridges, buildings, and houses to architects, engineers, and those who manage and oversee construction projects.
It's a lucrative field as well — the Fed's analysis shows a median early career salary of $64,000 and a median mid-career salary of $100,000.
5. Industrial engineering
Far and away the most secure field is industrial engineering, with an unemployment rate of just .2% — which is tantalizingly close to zero. And it's the highest paid of all the fields the Fed analyzed, with median early and mid-career salaries of $71,000 and $100,000 respectively.
So what kind of jobs are we talking about? Well, you detail- and numbers-oriented folks are shoo-ins. Industrial engineering is all about collecting and analyzing data to improve manufacturing or service procedures, from quality control to cost-effectiveness.
Industrial engineering joins engineering in general as a stable career field, according to the Fed — and an honorable mention goes to education, which, for obvious reasons (namely low pay and the difficulty of the job), is always looking for solid workers.
Stick to one of these fields and your degree will surely pay off from a job security standpoint, and often from a salary standpoint too.
John Sundholm is a news and entertainment writer who covers pop culture, social justice, and human interest topics.