From today's New York Times:
Young workers
tend to suffer more during economic downturns, in part because companies become
less willing to hire inexperienced, entry-level employees. During the aftermath
of the Great Recession, the unemployment rate for people in their early to
mid-20s spiked to 16%+. The pandemic brought an even bigger surge in
joblessness, though young people benefited once the economy reopened and
employers raced to fill open positions.
Recent
graduates generally fare better than people without degrees in periods of weak
hiring, and this moment is no different. While the gap has narrowed in recent
years, the unemployment rate for recent college graduates remains lower than
for all young workers. Young people with college degrees remain more likely to
be employed and to have higher paying jobs.
