The unemployment rate for Americans with a bachelor’s degree or higher rose to 2.8 percent in September, up from 2.3 percent a year earlier.
With a changing economy, artificial intelligence (AI) replacing many jobs, and widespread unpreparedness for the job market, the time-honored tradition of tossing their caps in the air to celebrate earning their degrees and starting exciting new careers has turned into disappointment for many college graduates.
Statistics released by the Department of Labor on Nov. 20 show that 25 percent of the 7.6 million unemployed Americans in September held at least a bachelor’s degree.
With more than 1.9 million unemployed college graduates on the market, the September data show little or no change from that of August in major industries to which young degree-holders typically gravitate. These include financial activities, professional and business services, wholesale and retail trade, the federal government, and transportation.
The seasonally adjusted overall unemployment rate was 4.4 percent in September, while the rate for degree holders rose to 2.8 percent from 2.7 percent in August—well above the 2.3 percent recorded in September 2024.
Frustrated With Job Search
Stacey Cohen, author of Brand Up 2.0: Propel Your Early Career Success, has been working with college graduates, and even high school students, to prepare them for future careers.
“I’ve been talking with many recent graduates and a lot of them are frustrated and upset about not finding a job yet,” she told The Epoch Times. “They feel like they’ve worked so hard over the past four years and now nobody wants them.”
Cohen believes the current situation, with so many unemployed college graduates, could be the result of several factors, including a changing economy, AI replacing many entry-level jobs, and graduates who may be unprepared for the job market. “One graduate told me about sending hundreds of resumes out and not hearing back from anyone,” she said.
Cohen noted that some graduates she has counseled have taken side jobs—such as waitressing, golf caddying, or other temporary work—while continuing their search for a permanent position. “It’s better to have some job experience on your resume—you don’t want any big gaps in there,” she said.
By Mary Prenon
