Fed economists reveal that some might be wasting their time and money going to college;
Reinforcing research by others, Mr. Abel and the other New York Fed economists find that those who major in engineering, math, computers and other technical fields as well as those in growing parts of the economy such as health and education tend to do better. Those who major in leisure and hospitality, communications, liberal arts, social sciences and business are more likely to be underemployed after they graduate.
Among leisure and hospitality majors in their 20s, 63% were working in jobs that generally don’t require a college degree; only 38% of those with technology majors were doing so. (The researchers note that this may reflect a tendency of sharper college students to pursue technical majors.) These trends, the economists say, bolster the case for giving college students more and better information about the likelihood of finding a job in particular fields before the students choose their majors.Or before they choose to go to college at all.