As the job market continues to tighten, young graduates are experiencing unique and often unprecedented challenges in finding work. Palwasha Zahid, 25, who just earned her master’s degree in this field of data analysis. So far, she’s failed to obtain a stable job in her profession. Living in Dublin, California, Zahid represents a growing trend of educated individuals struggling against the odds in a competitive labor landscape.
Zahid graduated in December, feeling optimistic about her prospects of breaking into the data analysis field. Despite her incredible education credentials and a few summer internships in supply chain management and real estate, she has faced overwhelming obstacles. In March, the unemployment rate for recent college graduates (ages 22 to 27) was 5.8%. This is the most in more than a decade, excepting the pandemic years. This terrifying statistic highlights the many struggles that young professionals, such as Zahid, are experiencing today.
One big challenge for Zahid. Her 33-year-old husband, a software developer, provides her with emotional support and stability. Zahid’s worry about the future of work is very real. She fears that with the rise of Artificial Intelligence (AI), even fewer jobs will be available for her to apply to.
In recent months, Zahid took a trip through the San Francisco airport. He saw huge billboard ads advertising AI technology that advertised how they would replace human workers. The ads posed the provocative question: “Why hire a human when you could use AI?” Understandably, this ad campaign strikes a chord with countless graduates who are being left further and further behind by the advance of technology.
Zahid is not alone in her struggles. Lexie Lindo, a 23-year-old graduate, reported applying for over 100 jobs last summer and fall but faced repeated rejections from employers.
“Nobody was taking interviews or responding back to any applications that I filled out,” – Lexie Lindo
Lindo noted that her resume sure does tell a story of no gaps in employment.
“My resume is full, there’s no gaps or anything. Every summer I’m doing something. It’s just, ‘OK, so what else are you looking for?’” – Lexie Lindo
These feelings reflect the angst of many recent post-grads right now. Today, the economic landscape is much different than when this pandemic started, with companies focusing more on technological solutions than hiring people to fill every role. As automation and AI continue to transform the nature of work, specialists cautioned that children and youth will suffer the most from economic instability.
Brad Hersbein, an economist, noted the significant impact of these changes on younger workers:
“Young people are bearing the brunt of a lot of economic uncertainty.” – Brad Hersbein
Zahid’s decision to take her new career direction against this backdrop represents a major personal and professional gamble. She is back at Clark University now, working towards a master’s degree in supply chain management. This decision is an expression of her desire, her hope, that more education will lead to better job opportunities. This past summer, she secured a full-time internship at a Fortune 500 company in Austin, Texas. She can’t wait for the experience and connections it will provide her with.
Zahid remains optimistic about her future. She wants to get a better job next year and she thinks her new degree will help. Though the future is uncertain at this point, she has faith.
It’s true that the broader implications of AI on employment shouldn’t be ignored. Even Amazon CEO Andy Jassy has spoken on AI’s effect on the jobs. His view is that business, as it automates the path to higher efficiency, will continue to shrink their workforces.
“We will need fewer people doing some of the jobs that are being done today, and more people doing other types of jobs,” – Andy Jassy
Well, the answer is no—at least some experts vehemently dispute that point. Of course, they argue, there isn’t enough evidence to demonstrate that AI is affecting younger workers more than older workers. Kory Kantenga stated:
“We don’t see any broad-based evidence that AI is having a disproportionate impact in the labor market or even a disproportionate impact on younger workers versus older workers.” – Kory Kantenga
Perceptions on how AI will affect the labor market vary greatly, depending on who you ask. One thing, though, is certain: recent grads are experiencing some serious struggles in today’s landscape. Job prospects are disappearing. While change isn’t slowing down anytime soon, millions of America’s youth are at a pivotal point.
