College Majors and Employment Outcomes: A 2026 Update

Attending college still confers significant benefits in the labor market, but the choice of major increasingly impacts post-graduation employment prospects. A recent analysis from the Federal Reserve Bank of New York ranks employment outcomes for college graduates ages 22 to 27 based on their field of study, including early and mid-career earning potential.

The Value of a Degree Remains

Despite challenges faced by many recent college graduates in finding ideal employment, a degree continues to provide a significant advantage, particularly in terms of compensation. But, the labor market landscape is shifting, and certain majors are proving more advantageous than others.

Tech Hiring Slowdown

A notable finding from the New York Fed research is the cooling of the tech job market. Employers, after rapid expansion during the pandemic, are now pulling back on hiring in technology fields like computer science and engineering Federal Reserve Bank of New York.

Underemployment Rates Vary Widely by Major

The analysis also measured underemployment rates – the proportion of graduates working in jobs that don’t require a college degree – across different majors. Significant disparities exist.

For example, recent computer science majors have a 7% unemployment rate, compared to a national average of 4.3%. However, only 19% of computer science graduates are considered underemployed.

In contrast, criminal justice graduates face a much higher underemployment rate of nearly 66%, while those with degrees in the performing arts approach 64% Federal Reserve Bank of New York.

Major-Specific Employment Prospects (2026)

Here’s a snapshot of how college majors stack up in terms of employment prospects and earning potential, based on the New York Fed’s analysis:

• Computer Science: 7% unemployment, 19% underemployment
• Criminal Justice: ~66% underemployment
• Performing Arts: ~64% underemployment

Broader Trends in the College Labor Market

Recent data indicates a worsening labor market for recent college graduates. The unemployment rate climbed to 5.7% in the fourth quarter of 2025, up from an average of 5.3% in the third quarter. The underemployment rate rose to 42.5%, its highest level since 2020 Federal Reserve Bank of New York.

research from the Cleveland Federal Reserve suggests that the job-finding rate among young college graduates has been declining since around 2000, coinciding with a narrowing gap in unemployment rates between college and high school graduates Cleveland Fed.

Looking Ahead

While a college degree remains a valuable asset, the choice of major is becoming increasingly critical. Students and prospective students should carefully consider labor market trends and potential underemployment rates when selecting a field of study. The Federal Reserve Bank of New York continues to monitor these trends, providing valuable data for students, educators, and policymakers alike Federal Reserve Bank of New York.