The most recent underemployment figures from the Federal Reserve Bank of New York, indicating that 43% of 22-27 year old college graduates who are working in jobs that do not require their university degrees, show a nearly 2% increase from February 2020, pre-COVID economic disruption.
Yet, as college graduates are usually the last cohort to be more widely affected in economic downturns, and Wells Fargo & Co is the latest corporate employer to announce plans to cut $10 Billion in costs, potentially affecting “tens of thousands” of employees, perhaps underemployment may become unemployment.
What are the job prospects of current college students who will graduate in 2021, after enduring the historical and holistic disruption of the last third of their college education? Perhaps their concerns are best summarized by the following popular meme amongst college students:
For more information about how Creative Marbles experts can help students and parents navigate the new normal of a college education and prepare for a complex labor market, contact us at Creative Marbles Consultancy