While doom and gloom often colors the public narrative about the job market for recent college graduates, some of the latest available data shows that having a degree still pays for most young people trying to establish themselves in a tight labor market.
But that doesn’t mean it’s not a tough time for new graduates, who are bombarded with reports about a cooling market and predictions that artificial intelligence will soon eliminate a big share of entry-level white collar jobs.
“It’s not the worst it’s ever been. The aftermath of the Great Recession was a more challenging period of time, but I also don’t want to minimize it: It’s a tough time for new graduates,” said Jaison Abel, head of microeconomics at the Federal Reserve Bank of New York, which has tracked quarterly unemployment and underemployment rates for new college graduates since 1990.
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