A study by The Center for College Affordability illustrates the on-going dynamics of the U.S. labor force, especially for college graduates. Money quote via the study:
The mismatch between the educational requirements for various occupations and the amount of education obtained by workers is large and growing significantly over time. The problem can be viewed two ways. In one sense, we have an “underemployment” problem; College graduates are underemployed, performing jobs which require vastly less educational tools than they possess. The flip side of that, though, is that we have an “overinvestment” problem: We are churning out far more college graduates than required by labor-market imperatives.
Graphic Credit: Center for College Affordability and Productivity