College grads’ edge in job market erodes

In what it dubs “a tale of two job markets,” the Federal Reserve Bank of Cleveland says many of the longstanding job benefits traditionally offered by having a college degree may be eroding. Since the pandemic, many young college graduates are grappling with higher-than-average unemployment, slower hiring and job search difficulties, partially because of tech-sector layoffs and the trend of AI replacing many entry-level roles. Long-term data shows the unemployment gap between high school and college graduates is only 2.5%, a record low, though the report notes that college graduates still enjoy greater job security and better compensation once hired.