As the annual conference season approaches in June, Carol Carter is typically engulfed in a frenzy of preparations for her nonprofit organization.
This year, however, the atmosphere at GlobalMindEd, which she founded nearly a decade ago, is strikingly different amidst a backdrop of challenging economic conditions.
Based in Denver, GlobalMindEd focuses on empowering students, particularly those who are the first in their families to attend college, by equipping them with essential professional skills and the social capital necessary for career advancement.
Carter is observing that many mentors within her network are grappling with job insecurity themselves, a reflection of recent sweeping layoffs across major employers in the technology sector.
With 6,000 job cuts at Microsoft last month and Hewlett Packard also downsizing, those able to guide students in their career paths are facing their own struggles.
“The net of this is it really affects people who are in college right now because there are a lot of different people competing for these kinds of jobs that would otherwise be considered more entry-level professionals,” Carter noted, highlighting the heightened obstacles that new graduates now face.
The job market for college graduates is one of the most competitive it has been in recent years, save for the pandemic-related downturn.
As the state of Colorado sees a spike in its unemployment rate, recent data indicates a stark lack of job growth statewide, with figures reporting only 1.1 jobs available for every unemployed person.
Contrast that with two years ago when one unemployed worker had access to three available positions, making the shift glaringly evident.
Funding challenges have also arisen for GlobalMindEd, intensifying the strain as a key sponsor rescinded its support.
The cut was largely due to the organization’s dependency on government contracts, including funds from the U.S. Department of Education, which was ordered to be dismantled during the Trump administration — although this order was subsequently blocked.
Consequently, the repercussions of economic instability and shifting governmental focus are beginning to resonate through educational institutions and programs designed to uplift first-generation college students.
Carter remarked on the importance of the organization’s work, stating, “There’s layoffs in the technology sectors.
There’s massive government layoffs.
There’s layoffs because of tariffs.
Those are affecting graduates, which is why if people are graduating and don’t have a job, everybody needs to really take responsibility themselves for making a vast network that most of them don’t have yet.”
This call for personal agency underscores the necessity for job seekers to forge connections in an increasingly competitive landscape.
As Colorado’s unemployment rate climbed to 4.8% this past April, up from 2.6% in August 2022, the reality of job searching for young adults is stark.
While this number remains low—indicating a labor market close to full employment—historical trends show that younger workers consistently experience higher unemployment rates.
Among those aged 20-24 in Colorado, recent statistics reveal concerning disparities, with young men showing a significant drop in labor force participation compared to their female counterparts.
In that same cohort, women have reportedly increased their participation rates since 2022, while men’s engagement is at a 25-year historical low.
According to Monicque Aragon, an economist with the Colorado Department of Labor and Employment, the decrease in working-age men is noteworthy, given that their participation in the workforce has declined over eight percentage points since 2000 compared to just over two percentage points for women.
This shocking trend is further corroborated by Tatiana Bailey, an economist based in Colorado Springs, who analyzed labor market shifts over the years.
Bailey illustrates that the ratio of prime-working-age men not participating in the labor force has drastically shifted from 1 in 50 in 1950 to 1 in 9 today, a statistic that signifies a fundamental shift in the workforce landscape.
The underlying reasons for these job-seeking challenges point to a mismatch between the skills provided through traditional college education and the needs of employers.
Many graduates may hold college degrees but lack the specialized skills that are increasingly desired in the current job market.
“There’s this gap between education and the job market,” Bailey explained as she considers whether educational institutions are effectively preparing students for the realities of the workforce.
In response to these challenges, many workforce development organizations are stepping up to bridge that divide.
HighView, another nonprofit based in Denver, focuses on identifying high-achieving high school students from low-income backgrounds, particularly those hoping to be the first in their families to attend college.
Founder Nicole Baraff highlighted the alarming statistic: only 15% of first-generation, low-income college students graduate on time, and even fewer find jobs without personal connections.
With that knowledge, HighView aims to cultivate a network for students that provides essential connections and skills before they graduate, equipping them for successful careers.
Baraff emphasized, “Think about the network gap for a kid whose parents never went to college.
Their uncle is not on the board of Ibotta or Guild.
They’re not getting access to those summer internships and those entry-level roles coming out of college.”
To facilitate these opportunities, HighView partners with notable companies such as Guild, Salesforce, and Amazon, enabling students to immerse themselves in top-tier environments.
A notable statistic reflects the organization’s success: its first graduating cohort is now entering the job market with an average starting salary of $72,000.
However, like GlobalMindEd, HighView also faces challenges due to economic fluctuations, particularly as sponsorships can be jeopardized by layoffs among partner organizations.
Baraff shared that even as one global company is sunsetting its diversity, equity, and inclusion (DEI) programs, it continues to support HighView because it sees the value of the program beyond DEI initiatives.
“This is a talent development play and an employee engagement play,” she stated.
Conversely, sectors such as quantum computing are experiencing different trends, showcasing growth and investment despite economic adversities.
Elevate Quantum, a consortium in Colorado focused on quantum technologies, is moving forward with a $41 million federal grant to establish a Tech Hub for local innovation in this area.
A partnership with IBM, announced recently, aims to train 3,500 new quantum workers by 2030, effectively harnessing resources as IBM already provides free training curricula online.
Jessi Olsen, Elevate’s chief operating officer, conveyed optimism, observing, “Things are moving, even with a lot of the NSF cuts.
We’ve seen quantum to be a priority.”
The necessity for investment beyond traditional classroom education is clear among colleges as well.
Officials at Front Range Community College are doubling their student attendance at GlobalMindED’s upcoming conference as an investment in student success, increasing their delegation from 25 to 60 participants.
With a focus on catering to a diverse student population, including those attending part-time and many who are first-generation students, the college is committed to creating pathways for students to succeed both academically and professionally.
Krishna Pattisapu, executive director of equity and inclusion at Front Range Community College, acknowledged the importance of exposing students to broader career opportunities beyond the conventional choices they might consider in high school.
“Going to college just opened my eyes to so many different industries and ways that you can utilize your skills and your interests to find the job that you love and doesn’t feel like you’re working,” he stated.
Front Range actively seeks partnerships with local industries to align educational offerings with workforce demands, like collaborating with the chipmaker Broadcom to provide onsite classes.
Pattisapu recognizes the value of networking and resource-sharing within the community, emphasizing that partnerships expand the college’s offerings while simultaneously supporting students through experiential learning opportunities.
“The community is our resource.
We serve the community and they serve us,” he affirmed, signaling a collaborative approach to workforce development.
As organizations like GlobalMindEd and HighView persist in their mission to support first-generation college students amid economic challenges, the importance of fostering connections and real-world experience remains a critical component of a successful career pathway.
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