A Job Market Leaving Young Graduates Behind Could Scar Them for Years

Young college graduates are facing a gloomy economic future.Confronting the toughest job market since the depths of the pandemic, they are likely to make less money in the long term and have more trouble advancing their careers, economists warn.The rise of artificial intelligence also poses a new threat to the kinds of entry-level knowledge jobs that young graduates have long sought, which could further scramble employment prospects and upend career trajectories.The result is that the current crop of recent graduates could be left with deep scars that include a reduction in earnings, diminished employment opportunities and even widespread job displacement.“There are going to be lasting effects,” said Lisa Kahn, an economist at the University of Rochester.“The cohorts that were lucky enough to just finish a little bit earlier or a little bit later I think are going to be doing better.”The full impact of graduating into this hiring downturn will not come into focus for years, and much remains uncertain, especially about A.I.’s role.But history suggests that there is still trouble ahead for young graduates.Economists have broadly found that workers who graduate from college during bad economies fare worse in the long run than their more fortunate counterparts.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access.

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