Why today’s graduates are screwed

[Suporter]

by ?....

 

[swathe]

Why today’s graduates are screwed

Until recently the “university wage premium”, where graduates earn more than others, was growing. More recently, though, it has shrunk, including in the US, Britain and Canada. Using data on young Americans from the New York branch of the US Federal Reserve, we estimate that in 2015 the median college graduate earned 69 per cent more than the median high school graduate. By 2024, the premium shrank to 50 per cent.

https://www.straitstimes.com/opinion/why-todays-graduates-are-screwed

How come don't dare of mention SG? The percentage seems similar.

Poly expects $3200 vs NUS $5500. About 69% higher. And also difficult to find job.

 

[Full_Cream_Milk]

Ish not even strait time

Ish kope from the economist

Sinkie journalism ish a sinking ship

I know local journalism has sunk long ago.

But didn’t know it’s in such deep waters.

 

[artncraft]

How come don't dare of mention SG? The percentage seems similar.

Poly expects $3200 vs NUS $5500. About 69% higher. And also difficult to find job.

The original article is written by The Economist.

 

[mynickname]

You're paid for the value you create, not your qualification.

 

[Warocks]

How come don't dare of mention SG? The percentage seems similar.

Poly expects $3200 vs NUS $5500. About 69% higher. And also difficult to find job.

no need create family with this kind of salary

especially if your boomer parents also rely on you

 

[loganrunning]

male go do grab
female go do influenzer
or something like this

security guard in sg is the winner. take course and get the credentials (possibly free via skillsfuture ?), then may be even get placement and workfare.

 

[Song Bro]

This is a lame fear mongering piece la.
The second paragraph gives all the supporting evidence of why every sector is screwed BUT
never give example why journalism is not.
Simple terms, just accept what he say ( ), dun come and 抢饭碗。
As such grads should all enter journalism.

 

[NintendoSwitch]

Why today’s graduates are screwed

Pity the ambitious youngster. For decades the path to a nice life was clear: Go to university, find a graduate job, then watch the money come in. Today’s hard-working youth, however, seem to have fewer options than before.

Go into tech? The big firms are cutting jobs. How about the public sector? That is less prestigious than it used to be. Become an engineer? Lots of innovation, from electric vehicles to renewable energy, now happens in China. A lawyer? Artificial intelligence will soon take your job. Don’t even think about becoming a journalist.

Across the West, young graduates are losing their privileged position; in some cases, they have already lost it. Jobs data hints at the change. Mr Matthew Martin of Oxford Economics, a consultancy, has looked at Americans aged 22 to 27 with a bachelor’s degree or higher. For the first time in history, their unemployment rate is now consistently higher than the national average. Recent graduates’ rising unemployment is driven by those who are looking for work for the first time.

The social and political consequences will be profound. And the trend is not just in America. Across the European Union, the unemployment rate of young folk with tertiary education is approaching the overall rate for that age group. Britain, Canada, Japan – all appear to be on a similar path. Even elite youngsters, such as MBA graduates, are suffering. In 2024, 80 per cent of Stanford’s business school graduates had a job three months after leaving, down from 91 per cent in 2021. At first glance, the Stanford students eating al fresco at the school’s cafeteria look happy. Look again, and you can see the fear in their eyes.

Until recently the “university wage premium”, where graduates earn more than others, was growing. More recently, though, it has shrunk, including in the US, Britain and Canada. Using data on young Americans from the New York branch of the US Federal Reserve, we estimate that in 2015 the median college graduate earned 69 per cent more than the median high school graduate. By 2024, the premium shrank to 50 per cent.

Jobs are also less fulfilling. A large survey suggests America’s “graduate satisfaction gap” – how much more likely graduates are to say they are “very satisfied” with their job than non-graduates – is now around 3 percentage points, down from a long-run advantage of 7 percentage points.

https://www.straitstimes.com/opinion/why-todays-graduates-are-screwed

Set up scam call centres. KK Park had oredi shown the way. Just b careful lao tian ye dun earthquake yr orpic nia.

 

[I_m_limpeh]

Why today’s graduates are screwed

Pity the ambitious youngster. For decades the path to a nice life was clear: Go to university, find a graduate job, then watch the money come in. Today’s hard-working youth, however, seem to have fewer options than before.

Go into tech? The big firms are cutting jobs. How about the public sector? That is less prestigious than it used to be. Become an engineer? Lots of innovation, from electric vehicles to renewable energy, now happens in China. A lawyer? Artificial intelligence will soon take your job. Don’t even think about becoming a journalist.

Across the West, young graduates are losing their privileged position; in some cases, they have already lost it. Jobs data hints at the change. Mr Matthew Martin of Oxford Economics, a consultancy, has looked at Americans aged 22 to 27 with a bachelor’s degree or higher. For the first time in history, their unemployment rate is now consistently higher than the national average. Recent graduates’ rising unemployment is driven by those who are looking for work for the first time.

The social and political consequences will be profound. And the trend is not just in America. Across the European Union, the unemployment rate of young folk with tertiary education is approaching the overall rate for that age group. Britain, Canada, Japan – all appear to be on a similar path. Even elite youngsters, such as MBA graduates, are suffering. In 2024, 80 per cent of Stanford’s business school graduates had a job three months after leaving, down from 91 per cent in 2021. At first glance, the Stanford students eating al fresco at the school’s cafeteria look happy. Look again, and you can see the fear in their eyes.

Until recently the “university wage premium”, where graduates earn more than others, was growing. More recently, though, it has shrunk, including in the US, Britain and Canada. Using data on young Americans from the New York branch of the US Federal Reserve, we estimate that in 2015 the median college graduate earned 69 per cent more than the median high school graduate. By 2024, the premium shrank to 50 per cent.

Jobs are also less fulfilling. A large survey suggests America’s “graduate satisfaction gap” – how much more likely graduates are to say they are “very satisfied” with their job than non-graduates – is now around 3 percentage points, down from a long-run advantage of 7 percentage points.

https://www.straitstimes.com/opinion/why-todays-graduates-are-screwed

Lots of people today got degrees. No big deal about having a degree. A lot of people using chatgpt to do their work, including coding.

 

[coyote]

Why today’s graduates are screwed

Pity the ambitious youngster. For decades the path to a nice life was clear: Go to university, find a graduate job, then watch the money come in. Today’s hard-working youth, however, seem to have fewer options than before.

Go into tech? The big firms are cutting jobs. How about the public sector? That is less prestigious than it used to be. Become an engineer? Lots of innovation, from electric vehicles to renewable energy, now happens in China. A lawyer? Artificial intelligence will soon take your job. Don’t even think about becoming a journalist.

Across the West, young graduates are losing their privileged position; in some cases, they have already lost it. Jobs data hints at the change. Mr Matthew Martin of Oxford Economics, a consultancy, has looked at Americans aged 22 to 27 with a bachelor’s degree or higher. For the first time in history, their unemployment rate is now consistently higher than the national average. Recent graduates’ rising unemployment is driven by those who are looking for work for the first time.

The social and political consequences will be profound. And the trend is not just in America. Across the European Union, the unemployment rate of young folk with tertiary education is approaching the overall rate for that age group. Britain, Canada, Japan – all appear to be on a similar path. Even elite youngsters, such as MBA graduates, are suffering. In 2024, 80 per cent of Stanford’s business school graduates had a job three months after leaving, down from 91 per cent in 2021. At first glance, the Stanford students eating al fresco at the school’s cafeteria look happy. Look again, and you can see the fear in their eyes.

Until recently the “university wage premium”, where graduates earn more than others, was growing. More recently, though, it has shrunk, including in the US, Britain and Canada. Using data on young Americans from the New York branch of the US Federal Reserve, we estimate that in 2015 the median college graduate earned 69 per cent more than the median high school graduate. By 2024, the premium shrank to 50 per cent.

Jobs are also less fulfilling. A large survey suggests America’s “graduate satisfaction gap” – how much more likely graduates are to say they are “very satisfied” with their job than non-graduates – is now around 3 percentage points, down from a long-run advantage of 7 percentage points.

https://www.straitstimes.com/opinion/why-todays-graduates-are-screwed

My grandfather times, they said the same. My father's time said the same. My time, they said the same... Next gen also said the same...

Just work hard and find your own niche.

 

[myopenid]

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https://archive.is/XvBRz

 

[myopenid]

You're paid for the value you create, not your qualification.

Harsh truth. Guess I should go do onlyfans

 

[trento]

Be a nurse, HR, accounts etc.

Lawyer replaced by AI? Got actual cases?

 

[TA20222025]

 

[Milodrink]

Remember to use SkillsFuture Credits to pay for your course.

Got $500 worth of credits expiring soon!

$0. They never top up liao. Those age below 40yo is....

 

[d5dude]

It will only get worse with AI, Gen Alpha should seriously consider going to a trade school to learn something that is more hands on, those jobs are in high demand and they cannot be easily disrupted by AI.

 

[d5dude]

male go do grab
female go do influenzer
or something like this

Grab will be disrupted by self driving cars, now already got AI influencers. These are low-hanging fruits for AI.

 

[d5dude]

This is a lame fear mongering piece la.
The second paragraph gives all the supporting evidence of why every sector is screwed BUT
never give example why journalism is not.
Simple terms, just accept what he say ( ), dun come and 抢饭碗。
As such grads should all enter journalism.

Journalism is already dead man walking. I think even GLSs like SPH will have to trim some fat some time down the road, very hard to justify all that head count going forward.

 

[mynickname]

Journalism is already dead man walking. I think even GLSs like SPH will have to trim some fat some time down the road, very hard to justify all that head count going forward.

Citizen journalism? You still need someone to dig out the story.