Business
College Graduates Face Joblessness Above National Average Since AI's Rise in US and Germany
Since ChatGPT launched in 2022, American college graduates aged 22 to 27 face joblessness rates surpassing the national average, according to the Federal Reserve Bank of New York. Germany shows similar trends. Job listings on Indeed have fallen 37% since November 2022. Labor market researcher Enzo Weber calls this a "renewal crisis"—companies are not creating new positions, disproportionately affecting recent graduates. Unlike previous economic downturns, experts say this reflects deep structural transformation in how companies operate, driven by AI adoption. Meanwhile, US graduates are voicing frustration, even booing speakers who mention AI at graduation ceremonies.