The Dow crossed 50,000 last week, but unemployment for college grads age 22 to 27 hit 5.6% in December, matching recession levels. Despite popular beliefe, the culprit isn’t AI. It’s a massive mismatch between what colleges produce and what employers need, reports The Wall Street Journal.
Many grads lack basic skills employers demand, having skated through credential mills that hand out A’s for minimal effort. Meanwhile, 31% of small business owners have job openings they can’t fill, mostly in skilled trades.
The labor market is top heavy with heavily credentialed workers who have less work experience and are often less productive than older counterparts. Some relied on AI tools like ChatGPT to complete coursework and struggle when those crutches disappear. Employers report continued challenges finding skilled labor in engineering, healthcare, and trades, while rote work that college grads can do may soon be replaced by AI anyway.
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The Dow crossed 50,000 last week, but unemployment for college grads age 22 to 27 hit 5.6% in December, matching recession levels. Despite popular beliefe, the culprit isn’t AI. It’s a massive mismatch between what colleges produce and what employers need, reports The Wall Street Journal.
Many grads lack basic skills employers demand, having skated through credential mills that hand out A’s for minimal effort. Meanwhile, 31% of small business owners have job openings they can’t fill, mostly in skilled trades.
The labor market is top heavy with heavily credentialed workers who have less work experience and are often less productive than older counterparts. Some relied on AI tools like ChatGPT to complete coursework and struggle when those crutches disappear. Employers report continued challenges finding skilled labor in engineering, healthcare, and trades, while rote work that college grads can do may soon be replaced by AI anyway.
Read more
Sign up for the Entrepreneur Daily newsletter to get the news and resources you need to know today to help you run your business better. Get it in your inbox.
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