New grads have an absurd unemployment rate, so I'm sadly not surprised. And this is still hiding the true economic disparity since we can't see the quality of the jobs.

I'm "employed" but am doing part time work with no benefits. It's dreadful but I still contribute to the "low unemployment". As does others who defer to Uber or Doordash for quick cash. We need a complete overhaul of job numbers down the line.

The decrease is likely just the result of the demographic shift caused by an aging population, as the notes say. Unrelated to the overall health of the economy.