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College Graduate Unemployment Hits 5.8%, Highest in Decades

3 months 1 week ago
Recent college graduates face the worst job market in decades, with unemployment reaching 5.8%, according to recently released New York Federal Reserve data. The "recent-grad gap" - the difference between unemployment rates of young college graduates versus the overall labor force - has hit its lowest point in four decades, indicating college graduates are facing unusual difficulties securing employment. (The New York Federal Reserve said labor conditions for recent college graduates have "deteriorated noticeably" in the past few months.) Even graduates from elite MBA programs are struggling to find work, while law school applications have surged as young people seek shelter from the difficult job market. Economists are attributing the decline to three potential factors: incomplete recovery from pandemic disruptions, diminishing returns on college education, and possibly AI replacing entry-level positions. "When you think about what generative AI can do, it's the kind of things that young college grads have done," said David Deming, a Harvard economist. "They read and synthesize information and data. They produce reports and presentations." Further reading: Young Men in US Abandoning College Education at Record Rates.

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Most Americans Use Federal Science Information On a Weekly Basis, a New Poll Finds

3 months 1 week ago
Most people in the United States rely on federal science in their daily lives but don't realize it, a new nationwide poll of U.S. adults shows. NPR: The poll was conducted in early April by the Association of Science and Technology Centers, the association for science museums and other educational science centers in the U.S. The poll found that on a weekly basis more than 90% of people use weather forecasts, job market reports, food safety warnings and other information that is based on federal science. But only 10% of respondents are concerned that cuts to federal support for science might impact their access to such information. The Trump administration has made deep budget and personnel cuts to federal agencies that collect weather data and do safety inspections at factories that make food and prescription drugs, among many science-related functions. The association conducted the poll to understand current attitudes about science in the U.S. and inform how their member institutions, which include science museums, aquariums and zoos, can better serve the public.

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