Gen Z is having a tough time entering the job market—but young male college grads may be facing the steepest climb.
New data from the Federal Reserve shows the unemployment rate for recent college graduates has risen to about 5.5%. While that’s still below the 6.9% unemployment rate for all young adults aged 22 to 27, a closer look reveals that college-educated young men are now unemployed at roughly the same rate as their peers without a degree, according to an analysis of U.S. Current Population Survey data by the Financial Times.
That marks a dramatic shift from 2010, when unemployment for non-college-educated men topped 15%, while college grads saw jobless rates closer to 7%. Today, the advantage of a degree appears to have diminished, particularly for men, as employers put less emphasis on educational credentials when filling entry-level roles.
Meanwhile, young women are faring better. Just 4% of college-educated women are unemployed, compared to 7% of their male counterparts. One major factor is the growing strength of the health care industry—one of the few sectors adding jobs at a rapid pace and one where women make up a significant share of the workforce. According to the Bureau of Labor Statistics, health care jobs are expected to generate about 1.9 million openings each year over the next decade.
Health care is also seen as a safe bet regardless of economic conditions. “Health care is a classic recession-resistant industry because medical care is always in demand,” Priya Rathod, a career expert at Indeed, previously told Fortune.
There’s also a difference in mindset when it comes to job flexibility. Women are often more open to accepting roles that don’t perfectly match their career aspirations—whether they’re part-time, overqualified for, or just a stepping stone. “Men, on the other hand, often hold out for roles that align more closely with their ideal career path or offer what they perceive as adequate compensation and status,” said Lewis Maleh, CEO of global recruitment firm Bentley Lewis.