Young New Yorkers are facing a tough job market — and a college degree may not make a difference
Source: Business Insider ·
Unemployment rates in NYC show that young workers with degrees face challenges similar to those of non-degree holders. It may be because of AI.
From the source
Workers walking in New York City.Spencer Platt/Getty ImagesUnemployment rates for NYC graduates and non-graduates are converging.22- to 27-year-old New Yorkers face similar unemployment rates whether or not they have a degree.Fewer Americans see college as vital, partly due to rising costs, per a recent Gallup poll.It's been a cornerstone of the job market for decades: Higher education is the surest path to steady employment. But in the Big Apple, there are signs that may no longer be the case.The unemployment gap between young New Yorkers with college degrees and their peers without degrees has dramatically narrowed; for a few months this year, the latter actually had slightly lower unemployment than the former — a potential sign that entry-level white-collar roles are succumbing to AI creep.Business Insider analyzed the 12-month moving average of the unemployment rate for 22- to 27-year-olds with and without college degrees in the NYC metro area, using data from the Current…