The labor market for recent college graduates has deteriorated, with their unemployment rates rising to 4.6% and a diminished unemployment 'safety premium' of only -2.8 percentage points. Historically, college grads had a significant edge over non-degree holders in job-finding rates, but recent trends show this advantage has decreased markedly. As unemployment rates for young graduates climb beyond typical levels during strong economies, questions around the long-term value of a college degree emerge, prompting a reevaluation of its significance in today’s job market.
"Recent data suggests that the labor market for recent college graduates has weakened at a time when the broader labor market has appeared healthy."
"The unemployment 'safety premium' for college grads - how much less likely they are to be unemployed compared to non-degree peers - has shrunk to just -2.8 percentage points."
"The gap is the smallest it's been in decades, raising questions about the enduring value of a college education in today's economy."
"Historically, college grads could expect to find work more quickly than their non-degree peers, but recently job-finding rates have declined significantly."
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