Plain English with Derek Thompson ‘The Job Market for Young People Is Brutal’
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Apr 10, 2026 
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Young Graduates Lost Their Usual Labor Market Edge
- Young college graduates now face roughly 6% unemployment while overall unemployment sits near 4%, reversing the usual advantage graduates hold.
- Rogé Karma says since 2022 their unemployment rose nearly twice as fast as the rest of the workforce.
The Big Freeze Locks New Workers Out
- The Big Freeze means layoffs stay low but hiring collapses, leaving existing workers employed while outsiders cannot get in.
- Rogé Karma says hiring fell to its lowest level since 2010 even though unemployment is near a 50-year low.
Private Sector Hiring Has Stalled Outside Two Areas
- Job growth has concentrated in healthcare and local government while much of the private sector has stalled or shed jobs.
- Professional services and tech, which usually ride out downturns, have seen some of the steepest hiring declines.
