Where did all the entry-level jobs go?
The Wall Street Journal - 08/05/2014
The number of recruiters requesting two or more years of work experience for some middle-skill occupations rose as much as 30% from 2007 to 2010, according to a paper by economists at Harvard University and the Federal Reserve Bank of Boston.
The slack labor market during that time offered a natural experiment, said one of the authors, Alicia Sasser Modestino, formerly at the Boston Fed and recently named a professor at Northeastern University. “Employers had carte blanche” to choose the most skilled applicants from a pool stocked with candidates, she said. Newly minted graduates with associate’s or bachelor’s degrees were forced to get experience elsewhere, such as in internships, or stretch their skills to find more demanding jobs.
The next few years will reveal whether a more worker-friendly job market forces companies to reduce those requirements, Ms. Sasser Modestino said.