Question
When will you be fully done with college and fully entering the labor market? What do you expect the labor market to look like then?
When will you be fully done with college and fully entering the labor market? What do you expect the labor market to look like then? To help you out, look at these last projections from the Federal Reserve pasted below. Look at the unemployment forecasts. If you expect to graduate beyond 2025 you can look at the "longer run" projection.
Of course, projections are not certainties. And you know unexpected events can occur; wars, pandemics, financial crises... So the unemployment situation when you graduate may look very different than these figures. What can you do now to prepare for this uncertainty? What can you do to be ready for the worst case scenario of graduating in a deep recession (with high unemployment and a big surplus of labor)? What can you do to be ready to take advantage of the best case scenario of graduating in an economic boom (with very low unemployment and a shortage of labor)?
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