Recent college graduates face a new obstacle in finding a job: AI

The rise of generative AI is making it harder for recent college graduates to get a foothold on the corporate ladder as they start their careers.

Job listings for the kind of entry-level corporate roles traditionally available to young grads have declined 15%, while the number of applications per job has surged 30%, according to data from Handshake, a career platform geared toward Gen Z workers.

Although people fresh out of college often struggle to land entry-level positions in their chosen field, "there are early warning signs" that AI is taking jobs away from the least experienced workers, Doug Calidas, senior vice president of government affairs for Americans for Responsible Innovation, a nonprofit focused on emerging technologies, told CBS MoneyWatch.

Just ask Michael Macaluso, 22, who this year earned a degree in mechanical engineering from the University of Connecticut. Despite applying for roughly 200 positions, he has yet to land a job in his chosen field. For now, he's working as an assistant pool director at the Lake Isle Country Club in Eastchester, New York, his hometown.

"I was told by a lot of people, that I was going to get a job right out of college," he told CBS News' Ali Bauman. "And then all of a sudden, there's no jobs."

New technologies have always shaped the labor market, snuffing out certain professions while breathing life into new sectors. One difference with the rise of AI that the technology excels at job functions typically associated with white-collar work.

The acceleration of AI could push more young people into skilled trades that don't require a high-priced college education, Calidas said.

"Since the automation that began in the 1970s, a lot of manual jobs have gone away," he said. "For a few generations, it's been an article of faith that white-collar jobs are more safe, whereas blue-collar work is more precarious. There's been a cultural push toward sending people to college, but it might make more sense to go into the trades."

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