Monday, October 11, 2021

NYT: new college graduates getting hired

Via the New York Times, looks like it's a good year to be a young college graduate: 
“The appetite for college labor is strong right now, whether it’s student positions, or part time, all the way through entry-level jobs,” said Jennifer Neef, director of the Career Center at the University of Illinois Urbana-Champaign.

That appetite at this stage of the pandemic — when overall U.S. employment remains more than five million jobs below the level in early 2020 — underscores the longstanding economic premium for those with a college education over holders of just a high school diploma.

The unemployment rate for all workers with a college degree stood at 2.5 percent in September, compared with 5.8 percent for high school graduates with no college. Among workers 22 to 27, the jobless rate in June was 6.2 percent for those with at least a bachelor’s degree and 9.6 percent for those without one, according to a study by the Federal Reserve Bank of New York.

“We’ve seen a bifurcation in the labor market recovery,” said Gregory Daco, chief U.S. economist at Oxford Economics. “College graduates were less affected by job losses and have seen a faster rebound while people with high school diplomas or less witnessed a much more serious decline in employment opportunities during the Covid crisis.”

 Good news for this year's grads. Will be interesting to see how long the good times keep rolling. 


  1. More curious as to what companies are paying these new graduates? The other day I saw a job ad for a fast food restaurant offering 80% the hourly rate I made as a freshly minted MS chemist nearly a decade ago.

    1. Interestingly I saw this reddit post not too long ago:
      While the job market is definitely better than last year around the same time, same can be said for other career paths - every grocery store I went to has a help needed sign and they all pay ~$17 per hour. Last time I checked (which was way too long ago and probably just wrong) entry chemists here pay ~$18-25/hr.

    2. I often regret not getting an engineering degree. Still playing catch-up.


looks like Blogger doesn't work with anonymous comments from Chrome browsers at the moment - works in Microsoft Edge, or from Chrome with a Blogger account - sorry! CJ 3/21/20