The latest crop of college graduates is entering the labor force. And, as always, the graduates will do relatively well. The unemployment rate is persistently lower and earnings are persistently higher for those with a college degree than for those without one.
For new graduates, the state of the labor market has notable career implications beyond getting a first job. People who graduate into a strong labor market will earn more throughout their careers than those who graduate during a recession. And when recession eventually does hit, people with college degrees are more protected; during economic downturns, people without a college degree are at greater risk of unemployment.
