Plain English with Derek Thompson
The Job Market for Young Grads Is Flashing Red
May 6, 2025
David Deming, a Harvard economist specializing in education and the future of work, dives into the alarming rise in unemployment rates for recent graduates, reaching a four-decade high. He discusses the struggles faced by business school grads and the transformative impact of AI on job markets. The conversation explores how AI might reshape the need for college degrees while addressing the essential skills future workers must develop to thrive amidst these changes. Unpacking these complex dynamics, Deming sheds light on the evolving challenges young professionals face today.
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Quick takeaways
- The unemployment rate for recent college grads has reached nearly 6%, highlighting a significant disconnect between education and employment opportunities.
- The rise of AI technologies threatens to reshape entry-level job roles, necessitating an urgent adaptation in educational approaches to cultivate relevant skills.
Deep dives
Rising Unemployment Rates for Recent Graduates
The unemployment rate for recent college graduates has surged to nearly 6%, the highest level recorded in over four decades. Elite programs, including Harvard MBAs, indicate that a significant percentage of graduates are struggling to find work shortly after completing their degrees. This concerning trend highlights a disconnect between education and employment opportunities, particularly for new graduates. The conversation suggests that the longer-term effects of economic uncertainty are contributing factors to this rise in unemployment, which has been exacerbated during these volatile times.
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