Andrew Yang on labor: what the evidence says · JRE #1245
SUBJECT: LABOR
The short answer
Yang claims the underemployment rate for recent college graduates is 44%. The 44% figure traces to the Federal Reserve Bank of New York's ongoing labor market research, which defines underemployment as working in a job that typically does not require a bachelor's degree.
Not a true/false call. Every claim is logged with its sources; read the exhibits below.
The underemployment rate for recent college graduates today is 44%.
What the evidence says 01 / RECORD
The 44% figure traces to the Federal Reserve Bank of New York's ongoing labor market research, which defines underemployment as working in a job that typically does not require a bachelor's degree. According to that data series, the underemployment rate for recent college graduates has fluctuated between roughly 38% and 48% since 2008 (about 42.5% as of the most recent reading cited), so a figure of 44% falls squarely within the historically normal range documented by the Fed's own data and is well supported.