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New U.S. college grads now have higher unemployment than the average worker

randalolson.com

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Re: New U.S. college grads now have higher unemployment than the average worker

#161

Post by OutOfHere »

bigthymer wrote: post #57
QQ00 wrote: post #33

Earlier quoted context omitted.

law is a parasitic job, with shit life-work balance, if you want a job, unless you want to work solo, good luck finding a law firm that wants you. medicine will always be the most secure and stable career, still has a shit life-work balance too.

> medicine will always be the most secure and stable career, still has a shit life-work balance too. It only is because it effectively has a guild\cartel system preventing an oversupply of doctors and that we have an aging population that increasingly demands medical care.

The government protects their cartel system at every level. I can't even legally get a blood test without authorization from the cartel.

Re: New U.S. college grads now have higher unemployment than the average worker

#162

Post by trhway »

beej71 wrote: post #150
epistasis wrote: post #58

The story here isn't college grads as much as young people in general. We are eating our young. We stopped building new housing, which turns housing into a transfer of wealth from those who don't have it (the young) to those who have been holding it (the not young). We have eliminated entry level positions, saddled college graduates with massive amounts of debt by defunding universities, and created great security fo…

We're building like mad in our town. Have been for years. Thousands and thousands of new units. Prices ain't budging. It's odd.

Who would be building in the falling prices market? Whenever real estate prices start falling you see the building activity decreasing.

Re: New U.S. college grads now have higher unemployment than the average worker

#163

Post by paulddraper »

throwaway27448 wrote: post #67
epistasis wrote: post #58

The story here isn't college grads as much as young people in general. We are eating our young. We stopped building new housing, which turns housing into a transfer of wealth from those who don't have it (the young) to those who have been holding it (the not young). We have eliminated entry level positions, saddled college graduates with massive amounts of debt by defunding universities, and created great security fo…

It's not just our young—that just receives disproportionate attention. The entire country is being actively looted under the guise of "economic growth". Anyway, increasing supply isn't going to solve our many problems leading to widespread homelessness and financial insecurity, but the Ezra Klein dunces aren't ready for that conversation yet.

Increasing housing supply will absolutely decrease housing prices.

That’s so obvious it’s nearly a truism.

Rate of new houses is below the rate of new households, and it’s been that way for years.

Re: New U.S. college grads now have higher unemployment than the average worker

#164

Post by Georgelemental »

epistasis wrote: post #58

The story here isn't college grads as much as young people in general. We are eating our young. We stopped building new housing, which turns housing into a transfer of wealth from those who don't have it (the young) to those who have been holding it (the not young). We have eliminated entry level positions, saddled college graduates with massive amounts of debt by defunding universities, and created great security fo…

> defunding universities

No, the problem is that the universities are too bloated, not that we need to take even more in taxes from working people to feed the bloat

Re: New U.S. college grads now have higher unemployment than the average worker

#165

Post by bluealienpie »

Georgelemental wrote: post #164
epistasis wrote: post #58

The story here isn't college grads as much as young people in general. We are eating our young. We stopped building new housing, which turns housing into a transfer of wealth from those who don't have it (the young) to those who have been holding it (the not young). We have eliminated entry level positions, saddled college graduates with massive amounts of debt by defunding universities, and created great security fo…

> defunding universities No, the problem is that the universities are too bloated, not that we need to take even more in taxes from working people to feed the bloat

Universities administrators, yes. Funding for basic research, no.

Re: New U.S. college grads now have higher unemployment than the average worker

#166

Post by jghn »

TurdF3rguson wrote: post #112
jghn wrote: post #81

Earlier quoted context omitted.

This is true for most sub-fields. The average person in them is either a failed dev or more of a pencil pushing box checker. The quality employees are devs with extra specialized expsrtise Security, qa, devops, data emgonerkng, the list goes on and on. Infosec also adds the angle that you want someone with actual grey or black hat hands on experience

I'm actually pretty good at data emgonering, one time I accidentally wiped our production db.

You too?

That was one long ass day!

Re: New U.S. college grads now have higher unemployment than the average worker

#167

Post by epistasis »

bluedino wrote: post #122
epistasis wrote: post #58

The story here isn't college grads as much as young people in general. We are eating our young. We stopped building new housing, which turns housing into a transfer of wealth from those who don't have it (the young) to those who have been holding it (the not young). We have eliminated entry level positions, saddled college graduates with massive amounts of debt by defunding universities, and created great security fo…

We've spend the last fifty years shipping every job and industry overseas. What did we expect to happen?

That is absolutely not the case in any way. The US is the most vibrant and productive economy in the world, the envy of every other country. China is literally trying to climb the economic ladder up to the type of hugely productive, high paying jobs that the US is. And somehow the US got tricked into thinking that the low paying, less productive manufacturing jobs are what we should be climbing down to.

Re: New U.S. college grads now have higher unemployment than the average worker

#168

Post by epistasis »

sleepyguy wrote: post #106
epistasis wrote: post #58

The story here isn't college grads as much as young people in general. We are eating our young. We stopped building new housing, which turns housing into a transfer of wealth from those who don't have it (the young) to those who have been holding it (the not young). We have eliminated entry level positions, saddled college graduates with massive amounts of debt by defunding universities, and created great security fo…

Perhaps they should vote, unfortunately they don't. They are unreliable as a base so politicians ignore them and their needs.

Vote for whom? The political establishment is locking out an entire generation of younger politicians too.

Asking those who have only been able to vote for a few years to have solved the problems, in a system where power is gained only through the accumulation of decades of experience, is, well blaming the victims.

The greed of older generations, their lack of compassion and understanding, and their narcissism are all to blame.

Young people are entering a system built by others with the ladders already pulled up. Violent revolution is the only way they could have changed the system in a short time, and nobody wants that.

Re: New U.S. college grads now have higher unemployment than the average worker

#169

Post by epistasis »

smallmancontrov wrote: post #154
simonw wrote: post #79

Earlier quoted context omitted.

> increasing supply isn't going to solve our many problems leading to widespread homelessness and financial insecurity Why not? (I guess I'm a "dunce", but I'm one that's ready for that conversation)

Abundance only solves scarcity if scarcity is the problem, but the actual problem is economic exclusion, which will always be able to outpace abundance because abundance has physical limits while exclusion does not.

Scarcity of housing is a severe problem, one that has caused the economic exclusion by preventing new people from entering the locations with lots of jobs.

It really is housing and scarcity at the bottom of all the other symptoms we see.

Re: New U.S. college grads now have higher unemployment than the average worker

#170

Post by trescenzi »

majormajor wrote: post #84
trescenzi wrote: post #6

Earlier quoted context omitted.

This isn’t really new. When I graduated in 2013 the barista with a college degree was a trope for a reason. Maybe 50% of my graduating CS class had a CS job within 6 months of graduating. Friends with other degrees spent years trying to find something in their field.

"College grads are fully employed" certainly wasn't true in 2013 but the chart ain't that hard to read. The news here is how much it's changed. 2011 and 2013 were the years most tilted in the other direction since 1991 (unemployment rate 2 percentage points lower among new grads than all others). Only since 2019 have new grad overall had a higher unemployment rate, and it's climbing. One of the interesting aspects he…

I was replying to the comment not necessarily the article. The _not new_ was in reference to college grads not always having an easy time. That being said looking at the cited data I don't really know if I agree with the conclusion.

https://www.newyorkfed.org/research/college-labor-market#--:...

While it is new, since 1990, that recent college grads are doing worse than all workers it's not the case that the degree is no longer a buffer. If you compare Young Workers(7.5%) to Recent College Grads(5.6%), i.e. the same age range, or All Workers(4.3%) to All College Grads(3.1%) as of today there's still a buffer.

Edit: They point this out later in the piece themselves

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