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"New high school and college graduates entering the workforce are facing the most hostile job market since the 1980s, according to reports. Data from the Federal Reserve Bank of Richmond show that 13.4 percent of unemployed Americans in July were “new labor force entrants,” or people with no prior job experience.
While the overall number of unemployed people is down to a relatively low 4.2 percent, the large number of new entrants, coupled with an increase in the number of people who have been unemployed for more than 27 weeks, suggests the job market is tightening and that companies are reluctant to expand their workforce further or take a chance on inexperienced applicants.
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