Job market is slowing down and younger graduates are paying the price!

1 day ago

Hi HODLers and Hiveans,

US Economics and Job Data have been good lately and speaking with workers and young graduates, it does not seem to reflect the current environment they are experiencing.

Interestingly, entry levels and tech jobs have been the most affected. Could we see the rise of AI as the main driver? Corporate profits and US GDP are both growing and trending well.

Hiring slowdown hurts young workers; entry-level hiring down 17% since April 2019; grads face competition and experience demands.

It might not seem like much but even "golden age" working group is facing some headwinds:

35 to 44 with bachelor’s degrees had a 2.2% unemployment rate over the past 12 months. This is up from 1.8% over the prior period.

This 0.4% increase is a 22% increase over a 12 months period. Not so insignificant. In addition, I believe a LOT of people made good money during the previous 5 years (especially in tech) and might not be looking for a job or apply for unemployment and therefore might not even be reflected in the data.