U.S. college graduates now face higher unemployment than average workers for first time on record
By
Dr. Randal S. Olson
Master baker tier. Every paragraph earns its place on the tray.
Summary
A long-standing trend where new U.S. college graduates enjoyed lower unemployment than the average worker has reversed. Since early 2019 (pre-pandemic, pre-ChatGPT), recent grads have faced higher unemployment than the general workforce, and this gap is now the widest on record. The article examines this surprising shift in the labor market for educated workers.
Key quotes
· 4 pulledA fresh college degree used to come with a quiet edge in the job market.
New grads had better odds of landing work than the average worker, and that edge held for as long as anyone tracked it. Not anymore.
The reversal did not start with ChatGPT, and it did not start with the pandemic. It started in early 2019, before either one was on the radar.
They now face higher unemployment than the workforce as a whole, and the gap is the widest on record.
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