Young college graduates are having more difficulty landing work than earlier cohorts. To be sure, the Great Recession and the subsequent slow recovery hit the Millennial generation particularly hard. In the average unemployed college-educated Millennial had been looking for work for 27 weeks—more than double the time it took an unemployed college-educated to year-old in to get a job 12 weeks. Taken together, these two facts—the growing economic return to a college degree and the larger share of college graduates in the Millennial generation—might suggest that the Millennial generation should be earning more than earlier generations of young adults. The CPS is nationally representative of the civilian noninstitutionalized population. But the picture is consistently bleaker for less-educated workers: On a range of measures, they not only fare worse than the college-educated, but they are doing worse than earlier generations at a similar age. It is a subsidiary of The Pew Charitable Trusts. For example, the unemployment rate for Millennials with a college degree is more than double the rate for college-educated Silents in 3.
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