Let’s talk a little bit about career
planning. Um, college grads in the US no
longer able to find jobs faster than
high school grads. What? This is a
Bloomberg. Did you just say college
grads have a hard time getting jobs than
high school grads? Yes. Bloomberg said
- There is no way this is a real
story. Well, let’s read it. What do they
mean by this? That folks from high
school like, are they worried you go to
college, get brainwashed, and you’re not
a good employee to hire? What are they
talking about here?
College graduates have historically
found jobs more quickly than people only
a high school degree. But that average
has become a thing of the past according
to a new research from the Federal
Reserve Bank of Cleveland. Recently, the
job finding rate for younger college
educated workers have declined to be
roughly in the line with the rate of
young high school educated workers,
indicating that a long period of
relativity easier job finding prospects
for college grads has ended. Uh the the
this is by Alexander Klein saying this
from the Cleveland Fed researchers. The
study follows the latest monthly
employment uh data released on November
20th which showed the unemployment rate
for college educated workers continue to
rise in September amid an ongoing
slowdown in white collar hiring fueled
in part by investments in artificial
intelligence. Young workers in
particular have borne the brunt of the
slowdown. The unemployment rate for
people between the ages of 20 to 24 was
9.2%.
Uh up from uh two up 2.2% 2% points from
a previous year. In their report, they
also showed that the job finding rate
for US college graduates between 20 to
27 defined as the share of unemployed
who find jobs on a monthly basis has
been declining steadily since around
- Tom,
so it’s very interesting. There was also
a study here. The most common phrase,
you know, um for in in parental homes
used to be how was your day? However,
this year, you know what the most common
phrase is? What’s that? Get off my damn
couch. So, what has happened is you have
9.2% unemployment of the 20 to 24, up
from 7 uh 7.0. But let’s go take a look.
Why can’t they find jobs, Pat? Let’s
talk about college grad. A grad’s not a
grad. So, we turn to Words Talk, Number
Scream. And here’s the number. Guess
what? Over the last five years, Pat,
take a look at this chart of jobs. Are
you ready? If people with business
degrees 18 to 19% of the degrees, STEM
17 to 18, healthcare at 13 to 17, ladies
and gentlemen, that’s 52. I think that
adds up to 52%. Right. Yeah, I think so.
52%. Then we get down into social
sciences and history 8%. Psychology 7%.
Hell, that’s seven out of the 9%
unemployment right there. Um, and then
engineering 7%. So, let’s put the
engineering on the 52. We’re up to
almost 60% of a degree you can do
something with. And guess what? In the
last 10 years, this has not moved as
fast as it needs to. Liberal arts is
slowly coming down, but not slow enough.
And so people with liberal arts degrees,
repeat after me. Would you like fries
with that?
Wow. You think so?
I I think that’s by the way, in a
changing economy with technology jobs,
people say, “Oh, it’s AI. it’s AI. No,
it’s also a fact that there’s a lot of
liberal arts degrees that are still
being pursued and those people don’t
have like a 9% unemployment. It’s closer
to 16 or 17
as the people that are unable it’s like
um Rob, let’s let’s go grab a a quick ai
on this. Says a percent of grads unable
to find work. What’s the worst major?
And you’re going to find some shocking
things or worse majors ranked and you’ll
probably find five of them. And there’s
still tens of thousands of students just
here in Florida, those majors. Here we
- Here we go.
Anthropology, 9.4%.
Now, physics, computer, engineering,
don’t understand those numbers, but
commercial, art and graphic design, fine
arts, sociology. You’ve got the usual
suspects on here. Your kid says, “I want
to go study this.” You ask him a
question. What are you going to do with
that degree?
