Source: NYT > Business (paywall)
Employers are raising credential requirements and experience thresholds for roles traditionally filled by new graduates. Applicants with degrees still can't access first-rung positions. This delays housing purchases, pushes debt servicing into later life stages, and compresses discretionary spending—the cohort that should be establishing independent households and building credit histories instead remains financially dependent. Retail, rental markets, and financial services face a shrinking customer base as the emerging consumer segment fails to materialize on schedule.