Recent college graduates, typically having lower unemployment rates, are now facing a rising joblessness rate, reported at 6.6 percent for those aged 22 to 27. This increase marks a departure from the historical trend of better employment for this demographic. Various factors, including the pandemic, rising interest rates, and tariff policies, have contributed to labor market instability. Additionally, generative AI technology is impacting job opportunities by enabling applicants to submit many applications quickly. As a result, the competition for available jobs is intense, requiring applicants to focus on relationships and networking to improve their chances of employment.
The actual battle for the jobs that do exist is fiercer than ever because, through the use of ChatGPT or even more customized AI tools, an individual student can pump out 500 or 1,000 applications in the blink of an eye.
All of it has brought the job market to a breaking point, and applicants will have to go back to first principles if they want to succeed.
Our own human algorithms are wired for relationships and trust. Employers are always going to pick someone who's a friend of a friend or is referred.
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