Recent College Graduates Face Higher Unemployment Than Other Workers - for the First Time in Decades (msn.com)
- Reference: 0178297924
- News link: https://it.slashdot.org/story/25/07/07/0028221/recent-college-graduates-face-higher-unemployment-than-other-workers---for-the-first-time-in-decades
- Source link: https://www.msn.com/en-us/careers/job-search/college-degree-no-longer-guarantees-post-grad-employment/ar-AA1GTARM
> While the national unemployment rate has hovered around 4% for months, the rate for 20-something degree holders is nearly 6%, data from the Federal Reserve Bank of New York shows. [And for young workers (ages 22 to 27) without a degree it's 6.9%.] The amount of time young workers report being unemployed [2]is also on the rise .
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> Economists attribute some of the shift to normal post-pandemic cooling of labor market, which is [3]making it harder for job-seekers of all ages to land a gig. But there's also widespread economic uncertainty causing employers to pull back on hiring and signs AI could replace entry-level positions....
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> Business schools nationwide were among the first to see the labor market shift in early 2023 as [4]tech industry cuts bled into other sectors, said Maggie Tomas, Business Career Center executive director at Carlson. Tariffs and stock market volatility have only added to the uncertainty, she said. In 2022, when workers had their pick of jobs, 98% of full-time Carlson MBA graduates had a job offer in a field related to their degree within three months of graduation, according to the school. That number, which Tomas said is usually 90% or higher, dropped to 89% in 2023 and 83% in 2024.
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> Part of the challenge, she said, is recent graduates are now competing with more experienced workers who are re-entering the market amid layoffs and hiring freezes... After doing a lot of hiring in 2021 and 2022, Securian Financial in St. Paul is prioritizing internal hires, said Human Resources Director Leah Henrikson. Many entry-level roles have gone to current employees looking for a change, she said. "We are still looking externally, it's just the folks that we are looking for externally tend ... to fulfill a specific skill gap we may have at that moment in time," Henrikson said.
[1] https://www.msn.com/en-us/careers/job-search/college-degree-no-longer-guarantees-post-grad-employment/ar-AA1GTARM
[2] https://data.bls.gov/dataViewer/view/timeseries/LNU03008287#
[3] https://www.startribune.com/minnesota-job-labor-market-unemployment-layoff-people-color-career-fair/601333141
[4] https://www.startribune.com/after-hiring-bonanza-tech-workers-now-grapple-with-layoffs-and-disillusionment/600361538
Re: Shrug (Score:2)
Idk if you are actually the guy that you link to on your profile, but acting and speaking like a lunatic is usually not the way to get people to want to watch your video game system review of a 35 year old system. Are you thinking of running for office?
Re: (Score:2)
Actually mr. Bitterman, im not selling anything. Its a username, you fucking youtube loser. Just because you put epic in yours does not make you so. The sad sacks love to bring it up, its actually a joke based on someones sad reality. You know dark humor, the kind your boy leon loves.
What do you expect? (Score:3, Insightful)
Recipe for success?
1. Make college very expensive
2. Teach very little, build no usable experience
3. Make every graduate believe they're worth six figures out of the gate
I've had significantly better luck hiring people who want to learn on their own, and providing them everything I can to help.
Re: (Score:2)
> Recipe for success?
>
> 1. Make college very expensive
> 2. Teach very little, build no usable experience
> 3. Make every graduate believe they're worth six figures out of the gate
> I've had significantly better luck hiring people who want to learn on their own, and providing them everything I can to help.
This is all well and good, but how do you know who to interview? You either need personal recommendations, or you go entirely off their resume. The part about hiring good people is obvious, but it's also obvious that absent the recommendation, you can't tell anything about how good they are. That's why something that is probably not that much of a discriminator becomes so important for someone who has very little work experience.
Hiring only experienced engineers (Score:2)
with at least 15 years experience with OpenAI.....
Re: Hiring only experienced engineers (Score:2)
That's ok, they can do all fifteen years in parallel over one year.
Re: (Score:1)
Only if they're here on an H1B...
I sometimes wonder what it must be like to be able to just go to a diploma Mill and instantly have access to all the jobs you could want. As an American if I go to a diploma mail and get a fake diploma every employer knows that and won't hire me. Do the same thing with an H1B visa and you're in like Flynn.
I understand the point is to bring in more labor in order to depress wages but it's still pisses me off. I'm also sick and fucking tired of neolib dipshits telling
Re: (Score:1)
> It is not a moral panic. It is a push back against hyper aggressive and often violent mentally ill men who look at a penis in the mirror and see a vagina.
How often are trans people "hyper agressive" and "violently mentally ill?" Why did you make this up?
Re: (Score:2)
> How about addressing anything else I said? You picked out a single line in a long post you felt was weak
I didn't pick out a line I felt was weak. I picked out a line I felt was heinous. Something is wrong with you.
Hating people is much worse than feeling like a woman. Don't be a hater.
> How about this one: how does a man know what it really feels like to be a woman?
There are plenty of youtube videos that talk about this if you actually want to know the answer.
Re: (Score:2)
> Hating people is much worse than feeling like a woman. Don't be a hater.
He is way smarter than you, just not sane or well adjusted. There are many medical conditions that blur gender identity, making blanket statements for political points is hateful and ignorant.
Like that new party, what's their slogan again, more luney than looney.
Re: (Score:2)
Keep up the good work.
They manufacture the panic; many try things out and when something sticks enough they run with it. They don't even need anything to find and distort anymore; just make it up and if lucky, they can ambush somebody who will stay the wrong thing when responding unaware of the narrative setup around the absurdities. Trans has been a problem for some time with it being such a tiny nothing it hardly gets noticed but it resonated more at this time so it became a crisis.
Re: (Score:2)
Many moons ago when you applied for a job it was the engineers who looked over the resumes. Today you have to make it past the HR department. It’s especially tough if you don’t have a degree. A good engineer can talk with someone for a few minutes and see if they’re competent or just full of shit. HR won’t pass you along unless you’re that unicorn matching every requirement to a T.
Re: (Score:2)
Yeah, they all want long years of experience. Job requirements are nothing more than a pipe dream, and they always were. When they really need to hire someone, they'll take somebody that checks off 50% of their wish list items.
If you don't hire entry-level workers now... (Score:2)
... where will you find experienced workers seven years from now? Seems like someone's making a really big bet on AI improving a whole lot soon. And when the next AI winter comes, a lot of people will be paying a lot more for the workforce they need.
Re: (Score:2)
OK, before we panic, the grad unemployment rate is 6%. That's still very, very low by historic standards. It means that if you're a college grad, you have to stand out more than the bottom 6% of your peers, to get hired. A 94% chance of success still seems pretty darn good to me.
Speculation (Score:2)
Its not clear what that statistic means and the reasons for it seem to be pure speculation. It could be students just want higher salaries than are being offered. It could also be that the market for some jobs, like MBA's, has been saturated with more graduates than it can absorb. The problem isn't less hiring, its more people looking for jobs. It could also be that a lot of workers have become discouraged and stopped looking for jobs, but college graduates are still out there trying. In other words its not
This is the vision for the future (Score:2)
Rightly or wrongly, this absolutely mirrors what Republicans are saying now. The value of a college degree is degrading and there is a dream to bring masses of labor jobs back to America. The answer is that people stop going to school and just accept that their future lies in a steady 9-5 making iPhones in a factory. Or replacing the hoards of illegal migrants who are due to be deported away from their low paying jobs. Of course none of those Republican politicians, lobbyists, lawyers or their corporate fri
Re: (Score:3)
Almost. The value of a four year degree in any majors is degrading. Community college and skilled trades are doing well. I didn't see a single AI or robot at work when the local town was putting in new water tower.
Not a single AI or robot was helping when the Well #3 pump failed and the operators had to replace it. Certified Water Operator is a real thing by the way and legally required in all Group A water systems. A four year degree is not needed for that.
The pruning crew in the orchards around me were en
Re: (Score:2)
Don't worry, the skilled trades will be devalued as well. They already are.
Companies just don't want to pay proper wages and will make every lame excuse they can to justify it.
Most people who work full time struggle just to pay rent.
Lazy (Score:2)
Why don't they start the next SpaceX or Microsoft?
Source for the non-degrer statistic? (Score:2)
Does anyone have a source for the non-degree holding unemployment rate being 6.9? That's a very interesting piece of the puzzle.
"College for everyone" is failing (Score:4)
Too many graduates, not enough jobs. People going into debt for worthless fluff degrees but even the STEM degrees have a surplus now.
All of that when the trades have a shortage of trained people.
A 94% chance of getting hired (Score:2)
So, a 6% unemployment rate means that, if you want to get hired, you have to stand out more than the bottom 6% of candidates. I'll take those odds any day!
Re: The natural state... (Score:2)
Elon, are you high again? This is not twitter.