Piece on the CBS evening “news” tonight threw out an interesting statistic. Unemployment among recent college grads is higher than the national unemployment rate 6.6% vs 4.2% The report made particular mention of a recent BSME grad, who is helping clean the community pool this summer, because he hasn’t turned up a job.
Here’s a piece I came across today: an Aussie EV fan quoting Ford CEO Jim Farley that 50% of Ford’s white collar staff will be replaced by AI. So much for the economy shifting to “knowledge workers”, eh? So, how are these STEM college grads going to pay off their student loan, if their “job” has been taken by a computer, or a foreigner that works cheaper? Of course, with governments, at both the state and federal levels, seeking to defund higher education, even more, and make student loans harder to get. seems we will see large numbers of universities be shuttered.
Private, Lutheran, college in Michigan, downsizing last year.
Small Catholic university in Michigan announced it’s closing a few days ago.
Most of the second tier Michigan public universities have seen enrollment drop 20-40% over the last ten years. Wonder when they will start closing?
Steve