New College Grads Are Making Gains in Employment and Wages During Pandemic
- Unemployment rate for recent college grads falls to 5.4%
- Wages surprisingly pick up for those with Bachelors degree
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Recent U.S. college graduates are doing a lot better in the labor market amid the Covid-19 pandemic than previously thought, underscoring the need for skilled work.
The unemployment rate for recent college grads improved to 5.4% in September and the overall rate for those with a bachelor’s degree or higher fell to 2.9%, both the lowest since the eve of the pandemic, according to data from the Federal Reserve Bank of New York released Friday. The rates are well below the recent peaks in June 2020.