Job market for recent college grads 'deteriorating rapidly,’ new report finds

Young college graduates face a job market that is “deteriorating rapidly” as even the unemployment rate for STEM and business fields are seeing rising unemployment rates, a report from a workforce think tank found.

The Burning Glass Institute report, titled “No Country for Young Grads,” describes the challenging environment college graduates face, while noting “non-college graduates” face a “stable” job market and the economy overall is performing well.

The report describes the unemployment gap between college-degree holders and peers with a lower level of education as being “the narrowest in 30 years,” while layoff rates for young college graduates “have nearly doubled compared to pre-pandemic levels.”