Landing that first job is proving tougher than ever for the class of 2024, Bloomberg reports.
Despite strong resumes, internships and degrees in high-demand fields, many new grads are struggling to even get callbacks—let alone interviews—as companies pull back on hiring and entry-level roles vanish.
Artificial intelligence is partly to blame, with more firms using it to replace administrative and junior-level work once done by early-career employees. Meanwhile, corporate layoffs, economic uncertainty and tighter immigration policies are adding more pressure, especially for grads on student visas.
While some majors—like nutrition and construction services—boast near-zero unemployment, fields like computer engineering and marketing are flooded with applicants and few openings. According to Oxford Economics, over 85% of the rise in the U.S. unemployment rate since mid-2023 stems from new entrants to the workforce.
Even a short stint of post-grad unemployment can have long-term financial consequences. For many of these young job seekers, already hit hard by pandemic-era disruptions, the outlook is increasingly uncertain—and the student loan bills are about to come due.
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