Babaamaajimowinan (Telling of news in different places)

Degree? Yes. Job? Maybe not yet.

The labor market's cooldown is hitting new college graduates hard, four years after the pandemic derailed their schooling

Millions of new college graduates are entering the workforce just as entry-level job prospects are fizzling.

Despite the strong labor market, it's becoming tougher for newcomers to break in. Hiring is slowing, especially for recent graduates, with coveted white-collar employers pulling back on new postings. Just 13 percent of entry-level job seekers found work in the past six months, down from a 2022 peak of 20 percent, according to a Goldman Sachs analysis of Commerce Department data.

"The class of 2024 may need to buckle in for a bit of a rough ride this summer," said Becky Frankiewicz, North America president at staffing firm ManpowerGroup. "People aren't leaving their jobs, employers aren't laying off. Everyone is staying put - and that's bad news if you're trying to get a foot in the door."


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