Unemployment Rates by Major: What You Need to Know

Unemployment rates vary significantly by major, with some fields experiencing much higher rates than others.

In the United States, the unemployment rate for engineering majors is around 2.5%.

For those with a business major, the unemployment rate is slightly higher, at around 3%.

Some fields, such as those in the arts, have much higher unemployment rates, with rates reaching as high as 10% or more.

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The national unemployment rate was 4.2 percent in April, according to the U.S. Bureau of Labor Statistics.

This low unemployment rate can be a great opportunity for college students to find jobs in their field, especially if they choose a major with a high rate of return. Workers with STEM bachelor's degrees were likelier to report higher salaries and lower unemployment rates.

The most valuable college majors are those in STEM fields, which have consistently yielded high rates of return over the last several years. STEM majors secured every one of the top 10 spots in Bankrate's 2024 ranking of the most and least valuable college majors.

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Here are the top 10 most valuable college majors, based on median salaries, unemployment rates, and the percentage of graduates who pursue advanced degrees:

Electrical engineering took the No. 1 spot this year with a median annual salary of $115,000 and an unemployment rate of 1.9 percent.

Computer engineering majors may face relatively high unemployment rates due to the sector scaling back on spending starting in 2022.

Liberal arts majors could have higher unemployment rates because of a lack of specialized skills and limited demand in the labor market.

Industries like healthcare and engineering have experienced strong and stable growth, with rising employment for several years.

Workers with STEM bachelor's degrees were likelier to report higher salaries and lower unemployment rates, according to Bankrate's 2024 ranking of the most and least valuable college majors.

Arts and humanities degrees landed at the bottom of the ranking, with arts majors claiming six of the bottom 10 spots, largely due to their low earnings prospects and higher unemployment rates.

For more insights, see: Different Types of Unemployment Rates

The bottom 10 majors in our ranking have median salaries that range between $40,000 and $53,000 annually and unemployment rates that range between 2.9 percent and 5.5 percent.

New data from the Federal Reserve Bank of New York shows that some majors are linked to higher-than-average unemployment rates, even as the job market continues to rebound.

The unemployment rate for recent graduates hit 5.8% in early 2025, the highest since the pandemic-era spikes of 2021.

Here's a list of the 10 least valuable college majors, which have median salaries ranging from $40,000 to $53,000 annually and unemployment rates ranging from 2.9% to 5.5%:

STEM majors secured every one of the top 10 spots in the ranking, with engineering degrees claiming eight of the top 10 spots.

The top 10 majors have median salaries that range between $95,000 and $115,000 annually.

Workers with STEM bachelor’s degrees were likelier to report higher salaries and lower unemployment rates.

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Electrical engineering took the No. 1 spot with a median annual salary of $115,000 and an unemployment rate of 1.9 percent.

Computer engineering is the second-most valuable major, followed by petroleum engineering, with median incomes of $112,000 and $100,000 per year, respectively.

Unemployment rates for the top 10 majors range between 0.9 percent and 2.3 percent.

More than half of electrical engineering graduates (nearly 48 percent) earned advanced degrees, but still have been working in jobs that don’t require advanced degrees.

A comparison of the median salary of electrical engineering ($115,000) and studio arts ($40,000) shows a $75,000 difference in annual income for full-time workers.

Here are the top 10 most valuable college majors, ranked by median annual salary: