With massive layoffs in the tech sector and a decline in public sector appeal, graduates are facing unprecedented employment challenges. According to a recent report from The Economist, young people in many countries, including the US, the EU, the UK, Canada, and Japan, are experiencing similar workplace hardships.

The unemployment rate among university graduates has reached an all-time high, and the degree once considered a pathway to good jobs is no longer guaranteed. In the US, the unemployment rate for university graduates aged 22 to 27 has, for the first time, surpassed the national average.

In Taiwan, the Executive Yuan's Directorate-General of Budget, Accounting and Statistics reported that the unemployment rate for the 20 to 24 age group is projected to rise to 11.62% in 2024, up from 11.37% in 2023.

Moreover, the salary advantage that university graduates previously enjoyed is shrinking. According to the Federal Reserve data, in 2015, university graduates earned 69% more than high school graduates, but by 2024, this figure has dropped to 50%.

The Economist indicates that the reasons behind this trend include the widespread accessibility of higher education and changes in industry demands, which have led to a reduction in job vacancies that traditionally required a university degree.