Study: Nearly half of Americans are working at jobs they are overqualified for

A new study shows that nearly half of Americans with college degrees are working at jobs that they are overqualified for.

It's a trend that's likely to continue for new graduates, according to the Center for College Affordability and Productivity, which released the study.

The number of Americans with bachelor's degrees grew from 25 percent to 41 million between 2002 to 2012. And the number of those with associate's degrees increased to 31 percent. Those with master's or doctorate degrees went up to 45 percent and 43 percent.

But the number of jobs that require degrees has not kept up.

In 2010, there were nearly 42 million college graduates, but fewer than 29 million available jobs.

That same year, 15 percent of taxi drivers had bachelor's degrees, compared to just 1 percent in 1970.

Also in 2010, 25 percent of retail sales clerks had bachelor's degrees compared to 5 percent in 1970.

READ MORE: Study: Nearly half are overqualified for their jobs

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