Why the Strong Labor Market Is Weak for Many 20-Somethings

WSJ Your Money Briefing

The Wall Street Journal

News, Business News

3.8 • 1.6K Ratings

🗓️ 22 July 2024

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

Hiring for white-collar jobs that typically require a bachelor’s degree has dropped below 2019 rates, according to data from payroll provider ADP. Wall Street Journal reporter Ray A. Smith joins host J.R. Whalen to explain what’s changed in the labor market, and alternate employment paths for frustrated job-seekers. Sign up for the WSJ's free Markets A.M. newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This episode is brought to you by Shopify.
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0:21.8	or lowercase that That Shopify.
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0:26.3	Here's your money briefing for Monday July 22nd.
0:32.1	I'm J. R. Whelan for the Monday, July 22nd. I'm J.R. Wayland for the Wall Street Journal.
0:37.0	Unemployment is at near historic lows, but one group is having more trouble than most in finding work, people in their 20s with bachelor's
0:45.4	degrees. Some have applied for hundreds of jobs and have yet to land a position.
0:51.3	They're at the moment where they're trying to crack the professional job market
0:55.3	while the rest of the workforce is coming down from post-pandemic job hopping
1:00.6	what people were calling the great resignation, and so now there are fewer entry-level
1:05.4	openings because that job hopping has slowed down.
1:08.4	We'll talk to Wall Street Journal reporter Ray Smith about how 20-somethings are staying on track despite the labor market challenges.
1:16.0	After the break. And the hiring is down substantially for young workers with bachelor's degrees.
1:40.0	Wall Street Journal reporter Ray Smith joins me.
1:43.0	Ray, help us pinpoint this.
	...

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