The promise of a college degree as a guaranteed pathway to employment is rapidly eroding, particularly for recent graduates entering a job market increasingly shaped by artificial intelligence. In a recent CBS Weekend News segment, reporter Ali Bauman explored this disquieting trend, interviewing a new graduate, an economist, and a university president about the profound impact of AI on entry-level jobs and the broader workforce.
Michael Macaluso, a mechanical engineering graduate from the University of Connecticut, embodies this new reality. Despite earning his degree and applying for nearly 200 positions, he finds himself managing a hometown pool this summer, a stark contrast to his collegiate expectations. "I was told by a lot of people that I was going to get a job, right out of college," Macaluso lamented, "and then all of a sudden, there's no jobs." This sentiment is echoed by recent data from Oxford Economics, as highlighted by Matthew Martin, who notes that for the first time ever, the unemployment rate among recent college graduates has surpassed the national average, ballooning to 6.6% over the past year compared to the national rate of 4.2%. "This kind of goes against what you would expect," Martin observed, "those with higher educational attainment usually have better employment prospects than those with less educational attainment."
The root of this unprecedented shift lies squarely in the accelerating adoption of artificial intelligence. Companies are actively replacing formative entry-level roles with AI solutions, a trend that is particularly pronounced in the tech sector. Nariman Farvardin, President of Stevens Institute of Technology, emphasized the pervasive nature of this technological wave, stating, "AI is permeating every aspect of our lives." This isn't merely about automating manual labor; it extends to cognitively repetitive tasks across various industries.
The scale of this transformation is immense. Farvardin suggests the disruption to the workforce will be even greater than that brought by the internet, potentially lasting up to fifteen years. He articulated that AI possesses "the potential to either augment or maybe totally replace jobs that are physically or cognitively repetitive." Such roles, often foundational for career progression, are now in jeopardy, impacting not just new entrants but also experienced professionals.
While the landscape appears daunting, adaptation is crucial. Stevens Institute of Technology, for instance, has proactively prepared for this shift over the past decade, focusing its curriculum beyond mere skill acquisition. Farvardin explained their philosophy: "We don't try to teach our students skills. We try to teach students a way to learn on their own for the rest of their lives." This emphasis on continuous learning and innovation alongside AI is paramount for future success. Kailey Totland, a computer science graduate from Stevens who secured a position at Verizon after an internship, exemplifies this adaptive approach. Her success underscores the importance of practical experience and building professional networks as vital complements to academic achievement in an AI-driven economy.
