Recent College Grads Face Challenges in the Job Market
- Wanjiru Waweru
- May 30
- 2 min read
Wanjiru Waweru, Jadetimes Contributor
W. Waweru is a Jadetimes News Reporter Covering America & Business News
Headlines reported that the job market is frequently frozen; however, for recent college graduates to enter, the reality feels very challenging. According to NewsNation, “recent college grads faced a 5.8% unemployment rate as of March — the highest since 2021 and more than double the rate for all college graduates.”
The unemployment rate in the United States has increased more than ever: “41% of new graduates are now working in jobs that typically don’t require a college degree.”
Daniel Zhao, a lead economist at Glassdoor, reported that the job market may not be suitable for college graduates at this moment due to typical circumstances.
“The job market right now for recent grads is not in a great place, even though the hard economic data … is still relatively strong,” said Zhao. “A lot of employers aren’t hiring right now.”
Over the years, Americans with a bachelor’s degree have had a lower unemployment rate than the recent workforce; however, this popular trend has not been sustained for recent college graduates between the ages of 22 and 27.
According to a New York study, “while the overall unemployment rate hovered around 4% in the first quarter, the rate for recent grads climbed toward 6%. For those who majored in anthropology (9.4%), physics (7.8%), and computer engineering (7.5%), unemployment was even higher as of 2023.”
“For folks who went into computer science or these related fields with the promise of high-paying jobs coming out of undergrad, it feels like that promise has kind of been broken,” Zhao said. “I think a lot of people underestimate how broadly applicable their skills might be, especially for an entry-level job.”
A New York study also reported that ”recent report suggests graduating from college is still worth it for most, and the wage premium remains near an all-time high. However, for the quarter of graduates who end up in relatively low-paying jobs, a college degree may not be worth it.”
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