Recent college graduates are having a harder time finding work, despite their higher education degrees, which usually give job-seekers a leg up in the labor market.
That’s according to a new report from Oxford Economics which shows that unemployed recent college grads account for 12% of an 85% rise in the national unemployment rate since mid-2023. That’s a high number, given that this cohort only makes up 5% of the total labor force.
What’s more, the rate of unemployment among workers who have recently graduated from college and are between the ages of 22 and 27, is nearing 6% —which is above the national unemployment rate of 4.2%.
Let’s give him the benefit of the doubt (because I don’t think this is going to work out like you’re saying) and say that tariffs on imports will drive an increase in manufacturing jobs. Well how long does it take for a new factory to translate from concept to production? The answer is years, so I guess we can anticipate this payoff starting in 2027? Meanwhile, all the legislation actually passed under Biden to incentivize American manufacturing jobs, he’s actively undermining, e.g. the CHIPS Act and IRA.
First, manufacturing jobs aren’t jobs of the future. That’s why manufacturing was moved overboard. Second, your estimate is way too agressive, it takes decades and some supply chains cannot be moved at all. Third, the current unemployment rate is around 4% which is almost full employment. Where will you find the workers for these manufacturing jobs current people in the USA aren’t qualified for?
I think you misunderstood me and I may I have misunderstood you