New York City college graduates face higher unemployment than non-degree holders

For the first time since January 2011, young New Yorkers with college degrees are facing a higher unemployment rate than those without higher education. According to data from the U.S. Bureau of Labor Statistics, unemployment among residents aged 22 to 27 with degrees reached 7.3% in March 2026, surpassing the 7.1% rate for peers without degrees.

New York City Comptroller Mark Levine noted that unemployment for college-educated youth has been rising steadily since the spring of 2024, while rates for those without degrees have declined since the fall of that year. Levine suggested that the shift may be a sign of artificial intelligence impacting the local job market, specifically noting that white-collar industries are at higher risk of disruption.

A previous report from the Comptroller’s office warned that AI could potentially cost New York City approximately 300,000 jobs and $14 billion in tax revenue.