Global Job Market Challenges: Fresh Graduates Struggle to Find Employment

Difficulties Extend Beyond Indonesia

The struggle to find employment is not limited to Indonesia; fresh graduates in the United States are facing similar challenges. A recent study highlights that the current job market is one of the most difficult in a decade. According to Cory Stahle, senior economist at Indeed Hiring Lab, "This is a very difficult time to find a job."

Key Statistics and Trends

• The US economy added more jobs than expected in September, indicating a relatively strong labor market overall.
• Despite this, the overall unemployment rate edged up slightly to 4.4%.
• For younger workers aged 16-24, the unemployment rate was significantly higher at 10.4% in September.
• Oxford Economics notes that job hunting has become a significant challenge for Gen Z entering the workforce.

Expert Analysis

Anders Humlum, assistant professor of economics at the University of Chicago, warns that rising youth unemployment could be an early indicator that the economy is slowing down or even heading towards a recession. Gad Levanon, chief economist at the Burning Glass Institute, points out that for the first time in modern history, having a bachelor's degree is no longer a reliable guarantee of securing a professional job.

Implications for the Global Job Market

The situation highlights a significant shift in the job market dynamics. The traditional belief that a bachelor's degree leads to high-paying jobs is being challenged as even degree holders find it difficult to secure professional employment. This trend suggests a need for a reevaluation of education and employment strategies globally.