Recent college graduates hoping to snag an entry-level corporate job are running into a new, digital hurdle: artificial intelligence. According to the career platform Handshake, job postings for entry-level white-collar positions—long seen as the first step for new grads—have fallen by 15%, reports CBS News. Meanwhile, competition is up, with 30% more applications per job. The latter stat tracks with a Business Insider piece noting that more people than ever are getting bachelor's degrees—nearly 2 million in the 2022-23 academic year, up from 1.8 million a decade ago.
In March, the unemployment rate for Americans ages 22 to 27 with college degrees stood at 5.8%, compared to a national rate of 4%, according to the New York Federal Reserve. At the same time, "quit rates" are falling, which translates into fewer job openings, per Business Insider. Doug Calidas of Americans for Responsible Innovation flags AI as a factor in this shift, telling CBS MoneyWatch that high unemployment among recent grads suggests "early warning signs" that automation is elbowing out the least experienced workers.
Most graduates are still landing jobs, but Calidas says the outlook is "deteriorating." AI is especially adept at handling repetitive tasks—often the bread and butter of entry-level roles. In a recent interview with Gen Z economist Kyla Scanlon, Ezra Klein of the New York Times points out that it's "totally plausible" that AI could double or even triple unemployment for those ages 18 to 24 in the next six years. The problem is that politicians don't seem to have "an inkling of a policy answer for it," he added. Responded Scanlon: "I am not surprised to hear that. I don't know if anybody has a good answer."
,
uBlock 
,
and
Ghostery 
)
