South Korea's jobless college graduates reached 481,000 in Q2, a five-year high, with young adults most affected. The Ministry of Data and Statistics links the rise to a tightening job market and the Middle East crisis.
Singapore's Graduate Industry Traineeships (GRIT) offer low pay (S$1,800-S$2,400/month) for graduates to gain experience, with one participant earning half the median graduate salary. This initiative aims to address a struggling graduate job market impacted by AI, hiring slowdowns, and global economic effects.
Top consulting firms like Bain & Company, McKinsey & Company, and Boston Consulting Group offer starting base salaries exceeding $110,000 for new graduates, often supplemented by bonuses and relocation assistance. Other firms like Accenture and EY also offer competitive packages, while Deloitte, PwC, and KPMG may rely more on signing bonuses.
New college graduates are booing commencement speakers who promote AI, reflecting a broader societal unease. Microsoft President Brad Smith acknowledged this sentiment, urging the tech industry to "raise the bar" and ensure AI serves people, not replaces them.
New research from the Federal Reserve Bank of New York suggests remote work, not AI, is the primary reason for increased unemployment among recent college graduates. Companies are less likely to hire young grads into remote roles due to difficulties in training and mentorship.
Anthropic's Mike Krieger reassured graduates and parents about AI's impact on jobs, stating that uniquely human skills like relationships, curiosity, and creativity remain irreplaceable. He advised young professionals to stay curious and adaptable.
University of Central Florida graduates booed a speaker discussing AI's impact on jobs, reflecting widespread anxiety among students about AI's role in their future careers.
