AI agents could easily send college grad unemployment over 30%, ServiceNow CEO says
AI tools threaten college graduate job market significantly
ServiceNow CEO Bill McDermott has warned that the rise of AI agents could push unemployment rates for college graduates into the mid-30s within a few years. He highlighted that businesses are increasingly using AI tools to cut costs and reduce hiring, making it difficult for new graduates to stand out in the job market. Current statistics from the Federal Reserve Bank of New York show a 5.7% unemployment rate for recent graduates, with underemployment at a staggering 42.5%.
Key Takeaways
- 1.
ServiceNow CEO Bill McDermott warns that college grad unemployment could exceed 30% in the coming years.
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The Federal Reserve Bank of New York reported a 5.7% unemployment rate for recent grads at the end of 2025.
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Companies like Block and Atlassian are cutting jobs as they adopt AI to enhance productivity.
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