Job Market Issues - Younger Workers

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.