Why the current job market has been such a bad match for the college degree and recent grads

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Recent college graduates are struggling to find jobs in a strong labor market, but the decline in the value of a degree is not as simple as it seems.

Demand for jobs that don’t require a college degree are outstripping demand for those that do, but recent grads are also fixated on certain positions with too many applicants rather than high-demand roles.

What Wells experienced personally and now sees professionally – grads confounded and mentally exhausted by the unforgiving job market — is confirmed by labor analysts and academics."What we are experiencing now is a bit of a bifurcation of the labor market. The roles that need filling are often very heavily skewed towards those with less than a bachelor's degree," said Rachel Sederberg, senior economist and research manager at labor analytics firm Lightcast.

"For jobs that don't require a degree, we don't have enough workers by any stretch, and they are having a great experience trying to find jobs," Sederberg says, adding that there is strong demand in the trades, retail, hospitality, and leisure. "The jobs out there don't always align with the wants and needs of the candidates. There is a mismatch between the needs and the talent pool," Meis said.There are plenty of applicants for marketing jobs,"but accounting degrees? We can't produce them fast enough," Meis said. She added that most recent graduates have different experiences they are trying to get out of work than their slightly older counterparts.

 

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