The world of work, which used to be quite predictable, has now become a confusing digital maze. Today, even top graduates from famous universities like Harvard are now struggling to find jobs, with unemployment at record levels.
A Broken Job Market
The main problem isn’t that there are no jobs. Instead, there are too many people trying to get into the same job market, and not enough fair access. The relationship between employers and job seekers has completely changed. Employers now have all the power — they don’t need to compete to hire the best people. Because of this, many young people are overqualified, underpaid, and already feeling burnt out before their careers even begin.
The Impossible Loop
Having a degree is no longer special — it’s just the basic requirement. Most entry-level jobs still demand years of experience and large portfolios. This creates an impossible situation: you need experience to get a job, but you need a job to get experience.
The Automated Gatekeeper
In the past, hiring involved people. Now, machines do most of it. The biggest barrier is the Applicant Tracking System (ATS). This software scans and scores every CV like a search engine. If your CV doesn’t have the right format or the exact words from the job advert, it gets rejected — even if you’re qualified.
The Mirage of Opportunity
Many job seekers are applying to roles that don’t even exist. In 2023, analysts found that almost half of all job adverts in the US were “ghost jobs” — listings that companies never planned to fill. They were posted just to collect CVs or look like the company was growing. If the process feels inhuman, it is because it is.
The Cultural Decline
The real problem is cultural. Hiring used to be about trust and potential. Now it’s all about numbers, metrics, and saving money. Because of this, employers often miss out on great people who don’t fit neatly into digital boxes.
Main Lessons
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Degrees Matter Less – Even a top university degree no longer guarantees a job. It’s just one of the many basic requirements now.
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People Have Become Data – Recruitment has turned into a system that treats candidates like numbers, not humans. The system is broken because it’s forgotten what work should be — a fair exchange of effort for opportunity — and turned into a game against machines that don’t care.
Source: Why Even HARVARD's Smartest Students Can’t get a Job Now? by Beyond Economy
(https://www.youtube.com/watch?v=CmaGMNYWTcY&t=2s)
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