Job Market Concerns for Young Americans

Summary

Podcast Summary: Jill on Money with Jill Schlesinger

Episode: Job Market Concerns for Young Americans
Date: May 20, 2026
Host: Jill Schlesinger, CFP® with producer Mark
Main Theme:
A deep dive into the changing job market for young Americans, exploring why recent graduates and soon-to-be graduates are more pessimistic about their job prospects than any class in recent memory. Jill analyzes the labor market, discusses new research and trends, provides actionable advice for job seekers, and addresses parental concerns about launching adult children into the workforce.

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1. Overview of the Episode’s Main Theme

Jill Schlesinger addresses a pressing question for many families during graduation season: Is the job market still a good place for young adults to launch their careers? Amid slowing job growth and increased competition, Jill discusses why today’s younger workers are more pessimistic and anxious, highlights newsworthy trends (including the impact of AI and shifting hiring practices), and stresses the importance of human networking. The episode presents hard truths, uplifting advice, and a realistic look at what 2026 graduates—and their parents—can expect as they step into the workforce.

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2. Key Discussion Points & Insights

A. State of the Current Job Market

• Recent Job Growth Slowing Down
  • In April, the U.S. economy added just 115,000 jobs—a far cry from the robust post-pandemic hiring boom.
  • The average for 2026 is 76,000 jobs/month, better than 2025’s average of 10,000/month but still not a strong market.
    ([02:21])
• Hidden Unemployment
  • The reported unemployment rate sits at 4.3%, but this number underplays the real challenges due to discouraged workers and involuntary part-timers.
  • If you include those who’ve given up looking and part-timers seeking full-time roles, the labor picture looks worse.
    ([03:30])
• Impact on New Grads
  • Today’s grads are entering a tougher and less welcoming job environment than any class since the financial crisis of 2008.
    ([04:36])

B. Generational Pessimism & Poll Findings

• New Poll: Dramatic Loss of Optimism
  • “Only 43% of Americans ages 15 to 34 said it was a good time to find a job in 2025. That’s compared to 64% of Americans 55 and older.” (CBS Host, [05:23])
  • In 2024, 70% of young people were optimistic; in 2026 it’s plunged to 43%.
  • Younger people are notably more anxious; older workers retaining jobs are more optimistic, contributing to market stagnation for entry-level roles.
    ([06:00])
• Shift in Priorities
  • New grads are prioritizing job stability over growth and upward trajectory—something earlier generations rarely did.
  • “We have new research from Monster which said they are choosing job stability over job growth. This is so different than the past … Right now, it’s, ‘Oh my God, I want a safe job where I can make a living and pay off my student debt.’” (Jill Schlesinger, [07:14])

C. Reasons Behind Tougher Entry-Level Market

• Decline in Junior Roles
  • Junior-level job postings fell 7% last year (per Indeed).
    ([06:36])
• Is AI to Blame?
  • Companies are increasingly relying on existing staff instead of hiring new grads and sometimes using AI to do more with less—though widespread job losses due to AI are not the full story.
  • “You can see it in different industries, consolidating industries, media for example, there are a lot of people who are doing more … maybe they’re more productive because of AI.” (Jill Schlesinger, [07:13])
• Employer Reluctance to Hire/Train
  • Rather than hire new employees, many companies load existing workers with more duties.
    ([07:13])

D. Where the Jobs Are & How to Get Them

• Sectors with Opportunity
  • Jobs requiring human connection—hospitality, retail, sales—remain more accessible, even as knowledge/office work slows.
    ([07:45])
• Networking is Critical
  • “Use those human skills and access your network. You may not think you have a network, but every friend of a friend, of a relative, of a friend is a human being who can lift your resume out of the cycle and put it into the hands of someone who can make a hiring decision. Use human contact. That is how people are getting jobs right now.” (Jill Schlesinger, [07:59])

E. Actionable Advice for Graduates & Their Families

• Take Any First Step—Perfection Isn’t Needed
  • “Get a job. In other words, there’s no dream job. Right. Any job in your field at an organization that you would like to get your foot in the door. Great. Do that. And say yes to opportunities that come your way.” (Jill Schlesinger, [08:43])
  • Gaining workplace experience is more valuable than waiting for an ideal opportunity.
• Don’t Blame AI Alone
  • Organizational choices and economic conditions are as important as technology in shaping entry-level prospects. ([09:16])
• Real Talk: Every Job Teaches You Something
  • Jill and Mark discuss bad jobs they’ve had, underlining that tough experiences can still move careers forward.
  • “Everyone has a bad job. You learn a lot from every bad job.” (Jill Schlesinger, [11:08])
• Utilize College Resources and Alumni
  • Graduates should make the most of campus career services and alumni associations; these are underused assets that come with the cost of tuition.
    ([12:16])
• Internships
  • While still important, internships are fewer and often pay less or not at all. Nevertheless, they remain valuable as entry points. ([12:04])

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3. Notable Quotes & Memorable Moments

• On parental anxiety:
  • "So many of you have given us a holler and told us that, you know, you've got these adult children, it takes so much longer to launch ... I want you to enjoy your beautiful celebration, but also I think I would like you to all make sure your kids get jobs.” (Jill Schlesinger, [02:21])
• On historical pessimism:
  • “The pessimism hasn't been at this level since, like, the Great Recession … and that was terrible.” (Jill Schlesinger, [08:43])
• On the importance of action:
  • “Get a job. There’s no dream job. Any job in your field at an organization that you would like to get your foot in the door. Great. Do that. And say yes to opportunities that come your way.” (Jill Schlesinger, [08:43])
• On networking:
  • “Use human contact. That is how people are getting jobs right now.” (Jill Schlesinger, [07:59])
• Bad jobs build character:
  • “Everyone has a bad job. You learn a lot from every bad job.” (Jill Schlesinger, [11:08])

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4. Important Segments & Timestamps

• [01:56] Opening remarks and personal stories (graduations, launching adult kids)
• [03:30] Reality check on the unemployment rate and underemployment
• [04:36-05:23] Discussion of new poll results, generational contrasts in optimism
• [06:00] In-depth discussion: reasons for tough job market, historical comparison
• [07:14] Shift from job growth focus to job stability among grads—Monster research
• [07:45] Where to look for jobs (roles involving human interaction)
• [07:59] Networking as the top strategy for job seekers
• [08:43] Essential advice: accept any reasonable job, don’t hold out for a dream role
• [11:08] Reflections on “bad jobs” and their long-term value
• [12:16] Internships, college resources, and alumni connections as career launchpads

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5. Tone & Language

• Direct, no-nonsense, tough love: Jill emphasizes actionable advice and reality checks, imparted in a conversational, sometimes humorous way—never sugarcoated, yet supportive and encouraging for parents and grads alike.

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6. Practical Takeaways

• The job market has cooled—expect a tougher search, not a hopeless one.
• Pessimism among young adults is at a record; families should prepare emotionally and practically.
• Job seekers must pursue every connection, follow up diligently, and not wait for the “perfect” role—taking action is key.
• Leveraging college career services and alumni networks is essential.
• Experience, even from less-than-ideal jobs or internships, pays dividends in career growth.

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For further advice or to get a personalized career push for your graduate, visit jillonmoney.com and reach out via the "Contact Us" button.

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“Change your work, change your wealth, change your life.” — Jill Schlesinger

Transcript

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[Jill Schlesinger]

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[Jill Schlesinger]

Welcome to the Jill on Money show. It's Wednesday, May 20, and so many of you are heading to college graduations right now. It's very exciting. Mark, did you attend your own college graduation?

[Mark]

No. That's a big fat no. I was working.

[Jill Schlesinger]

I knew that I had such a. I knew that you were gonna say that. I totally knew that I was sick as a dog.

[CBS Host]

Actually.

[Jill Schlesinger]

I have a little froggy throat right now.

[Mark]

I hear it.

[Jill Schlesinger]

I know it's cause I've talked too much, but it's really allergies more than anything else. But it's funny because this is a program that Takes the mystery out of your financial life. And for many of you, right after your house, your largest investment is your investment in your kids college education. And I know that there's a lot of consternation. So many of you have given us a holler and told us that, you know, you've got these adult children, it takes so much longer to launch. And I want you to enjoy your, your beautiful celebration. But also I think I would like you to all make sure your kids get jobs. So in April, the economy added like 115,000 jobs. And what's interesting is last year, like, okay, let's go back, even forget about last year during the COVID reopening, there was this worker shortage, right? So nobody could find workers. And we are having kids come out of school and like just able to get jobs and move jobs, change jobs, all this. Then a funny thing happened that like 20, 23, that was like the height of the great times. Then in 24 and 25, the job market slowed down a little bit. In fact, last year, you probably don't even realize it, we only average 10,000 jobs a month. That's with all the revisions. So this year we're averaging 76,000 jobs a month. And you know, you might like say, oh, well, all right, so it's okay, it's not terrible, it's not great, it's decent, right? But the unemployment rate, it said 4.3%. I think it's pretty good. But if you do add in the people who want a job, but they're kind of discouraged and they've put their job search on hold a little bit, and then the people who are working part time because they can't find a full time job, then the unemployment rate starts to rise. It looks like the market is not quite as good as that 4.3%. So what I think is interesting is to graduate into a period like this is something that is a little bit disarming for a lot of the young grads and their families, right, Mark? I mean, how many people spend boatloads of money and then all of a sudden it's like, my kid can't get a job.

[Mark]

That is like my biggest fear down the line. Yeah, that sounds like worst case scenario.

[Jill Schlesinger]

So I think that because this is the height of graduation season, it makes sense for us to talk a little bit about the job outlook for the class of 20. What I'd like to do is play a segment that we aired on CBS mornings and we talked about some of these, the nuances. And then when we Come back. I want to, Mark and I are going to have some, some good advice from how your, your kid needs to approach the job search if they don't have a job yet. So in this we've got, oh, there's a fill in host so you won't recognize these people. So we, we have on the set Nate Burleson, Kelly o' Grady and Matt Gutman.

[CBS Host]

In today's Money Watch, young Americans appear to be losing confidence in the job market. So a new poll finds only 43% of Americans ages 15 to 34 said it was a good time to find a job in 2025. That's compared to 64% of Americans 55 and older. This negativity among younger Americans, it's a major shift. Young adults, economists have typically been more optimistic about their job prospects. Right? I know I was. CBS News business analyst Jill Schlesinger is here to discuss. Jill, good morning. You're the perfect person to have here. I mean, I remember when I graduated, I was excited to go out, make money. There was optimism. Why are younger Americans feeling so negative?

[Jill Schlesinger (CBS Business Analyst)]

This is a tough labor market. And by the way, the, the change has been pretty dramatic just in two years. So two years ago in this survey, we found that 70% of the young people were optimistic. Now it's 43%. What a huge drop. The labor market has gotten a lot tighter. It's become a much more difficult environment to break through. And I think it's also interesting is the contrast between those 55 and older because what we know is that people 55 and older, if they're lucky enough to have a job, they seem to be staying in those jobs. So I feel bad for these kids. They are actually approaching a market that's very difficult.

[Mark]

All right. So according to the job search site, indeed a junior level job postings fell 7% last year. Is this because of AI or something else to blame?

[Jill Schlesinger (CBS Business Analyst)]

I think that there is a bit of a mixed message here.

[Mark]

Okay.

[Jill Schlesinger (CBS Business Analyst)]

So we know that companies are allowing people to kind of retire and not replace them. But we also know that those entry level positions, instead of filling them with new people, some companies are choosing to pile more work on their existing employees. And I think what's really interesting about that is you can see it in different industries, consolidating industries, media, for example, there are a lot of people who are doing more and maybe they're more

[Jill Schlesinger]

productive because of AI.

[Jill Schlesinger (CBS Business Analyst)]

But this is a really seminal moment for this College class of 2026 because as they come in and they feel this anxiety. We have a new research from Monster which said they are choosing job stability over job growth. This is something that's so different than the past because, again, like you said, Kelly, you have people who come out of school, they're excited. They're like, I want job growth. It's all about climbing the ladder right now. It's, oh, my God, I want a safe job where I can make a living and pay off my student debt.

[CBS Co-Host]

And speaking about places where there are safe jobs, it may not be where highly educated people want them, but there are jobs out there. One of the things that you mentioned is that they are jobs that relate to humans.

[Jill Schlesinger (CBS Business Analyst)]

Yes.

[CBS Co-Host]

I would say hospitality, app sales, retail,

[Jill Schlesinger (CBS Business Analyst)]

anything where there's human connectivity. So if you are looking for a job, use those human skills and access your network. You may not think you have a network, but every friend of a friend, of a relative, of a friend is. Is a human being who can lift your resume out of the cycle and put it into the hands of someone who can make a hiring decision. Use human contact. That is how people are getting jobs right now.

[Jill Schlesinger]

All right, so, Mark, the thing that I think is important about the job market right now is that these kids are totally pessimistic. I just. It freaked me out to see some of these numbers that, you know, essentially these. You think the youth of America, it's like, yay, ambition. They're so despondent. And the pessimism hasn't been at this level since, like, the Great Recession.

[Jill Schlesinger (CBS Business Analyst)]

So that's how.

[Jill Schlesinger]

And that was terrible. So. All right, let's move on to tips. At the end of the segment, you heard me say, use every possible connection that you have. I cannot possibly emphasize this enough. Any human being who can take your resume out of the. The pile, the online pile of resumes out of obscurity, and get it to the right person or any person at an organization has a leg up. And I think that the other part of this is that I really. I don't think that this graduating class has this. But I have met some people who are like, oh, I can't find the right job in my mind. Get a job. In other words, there's no dream job. Right. Any job in your field at an organization that you would like to get your foot in the door. Great. Do that. And, you know, say yes to opportunities that come your way. I think that a lot of people will say, like, oh, I don't know how to do blank. And they say, oh, I can't do blank. I also really do Believe that as much as we want to blame, and I said this in the segment, as much as you want to blame AI for all the jobs that don't exist, I don't think that that's what we're seeing. I made a little mention of this during the segment. Mark, I don't know if you heard this, but I, I said like, look at us here. Okay gang, CBS News, you know, over the last couple years they've had like massive layoffs. We're still putting the same program on. It's not because I replaced anybody, it's just that they're asking people to do more. And I think we hear that from every organization, Mark. I would say that the people who are feeling burnt out who come on the show, they're people who are, you know, mid late career and saying, I have to do more right now than I did 20 years ago.

[Mark]

Agreed that's usually the case and they're not very happy about it.

[Jill Schlesinger]

So if you're really looking at like the landscape, any job that requires human interaction is a job that your kid should be thinking about. And I think that any job that can just get them started, launched in some way, you're going to learn something from every job. I always love to ask you this question because, Mark, what was your worst job? Your summer job that you hated?

[Mark]

Yeah, I've said this many times, that's a clear winner. I was an overnight loader, unloader for ups. Worst job I've ever had in my life, hands on.

[Jill Schlesinger]

Were you in good shape?

[Mark]

Yeah, I was in good shape for sure, but it was just God awful work conditions.

[Jill Schlesinger]

So I mean, everyone has a bad job. You learn a lot from every bad job. So if you have a young person in your life who needs to get a leg up to start the process, first of all, have them subscribe to our other show, which is now called Money Watch, but it's turning into Money Moves. Just subscribe to Money Watch on our website or wherever you get your various audio programming. And also if you want to talk about how you can nudge your kid out of the house or how you can manage having that kid home for a while or what are the rules of engagement as you start thinking about bringing this adult into the workforce and also try to get them off your payroll eventually get in touch with us. Go to jillonmoney.com, click the contact us button. Write us a note, Mark and I will give you tough love, but I don't know, I think you're tougher than I am on this one, don't you Mark? You're a little tougher on this.

[Mark]

I think so. I mean, yes. I just think back to myself, I'm so far removed from it. But I mean, don't internships still play a role? Like that was the most important part of my entire career was my one internship that led to everything.

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[Jill Schlesinger]

I think that the problem is that first of all, internships are no longer unpaid so that they pay less. So that's fine. But I think that a lot of companies are just pulling back on them. I just think a lot of companies just don't want to deal. It's like, you know, all these places, you really, you have to really like work it and listen, if your kid went to college, they should be using that university's career placement organization. Every. You know, all these places, they have alumni associations, they have all these things that are available. Use them. That was part of the tuition check gang. And use the connections you have. Everybody wants to, you know, try to help out and just make sure that your kid is able to close the loop on all the interactions they have. So please do that. Get in touch with us. We'd love to help. I love getting this new generation started. They're going to make my life easier, I'll tell you that much. Hey gang. You can subscribe to us on the Odyssey app or wherever you find your favorite podcasts. Don't forget that. We would love for you to please do something nice for someone else today. Change your work, change your wealth, change your life. Thanks for listening. We'll talk to you tomorrow.

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