A disturbing shift in the American labor market—dubbed a “white-collar slowdown” has pushed the share of unemployed college graduates to record highs, prompting venture capitalist Chamath Palihapitiya to demand a drastic overhaul of federal student lending.

White-Collar Slowdown Hits College Graduates

New data and a chart named “white-collar slowdown,” released late Monday by The Kobeissi Letter, reveals that Americans with four-year degrees now comprise 25.3% of total unemployment, a figure that has doubled since the 2008 Financial Crisis.

The statistics illustrate a significant cooling in sectors that traditionally require higher education. According to the report, over 1.9 million workers aged 25 and older with at least a bachelor's degree are currently without work.

The weakness is not isolated to mid-career professionals; the unemployment rate for young Americans aged 20 to 24 has surged to 9.2%, marking a 2.2-point increase year-over-year.

This sharp rise, reaching levels unseen since May 2021, represents a volatility typically not seen outside of active recessions.

BREAKING: Unemployed Americans with 4-year college degrees now make up a record 25.3% of total unemployment.The percentage has doubled since the 2008 Financial Crisis.This comes as over 1.9 ...