"This is a generation of people that was really given the hardest sell of any generation in history of why they need to go to college. Everyone, from their parents and family members to the president, Barack Obama and Bill Clinton, talked about how in the 21st century, everyone's got to go to college. Unfortunately, all of this was happening at the precise moment when a college degree was becoming less valuable than it had been in many decades."
"The New York Federal Reserve has tracked the unemployment rate for recent college graduates since the late 1980s. For roughly three decades, it almost never exceeded the overall unemployment rate. Since 2022, it has stayed stubbornly above it."
Since around 2005, the American labor market has seen a significant shift where the number of college degrees increased, but good job opportunities did not. Despite a strong push for higher education from various societal figures, the value of a college degree has declined. The Great Recession of 2008 exacerbated this issue, leading to stagnant employment growth for recent graduates. By 2022, the unemployment rate for recent college graduates has remained consistently higher than the overall unemployment rate, a trend not seen for decades.
Read at Fortune
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