New workforce entrants account for a larger share of unemployment than at any point since the late 1980s, exceeding levels seen during the Great Recession. Hiring slowdowns close opportunities first for people without an existing foothold. For the class of 2026, conditions are especially unfavorable. Fewer entry-level jobs are available, and job seekers face more applications per opening. Older workers are also staying employed longer, reducing openings for younger entrants. As a result, unemployment for recent graduates has risen above the national average.
"At one point last summer, new workforce entrants made up a larger share of the unemployed than at any point since the late 1980s - higher even than during the Great Recession."
"When hiring slows, the door closes first on those without an existing foothold. For the class of 2026, the timing could hardly be worse."
"Fewer entry level jobs, more applications per job, and older people working longer have nudged unemployment for recent graduate above the national average."
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