Best job market in nearly a decade?
Per Yellen, the grads are entering the best job market in nearly a decade following years of a slow economic recovery. During a strong economy, she added, not only are jobs more plentiful, but they tend to pay better.
Yellen told the graduates that the degrees they've earned are the ticket to a successful working life, giving them access to higher-paying opportunities and providing them with higher job satisfaction over their careers.
Yellen stated that college graduates' annual earnings are, on average, 70% higher than those who only hold a high school diploma -- an increase of 50% since 1980.
The chairwoman went on to say that all signs point to a healthy job market, including consistent job creation, more job openings, and a low layoff rate. It also appears that wage growth is on the rise.
Still, she cautioned that the economy is still growing at a slower pace than in past recoveries and that productivity growth has fallen short of expectations.
The onus will be on president-elect Donald Trump to keep the momentum going as he strides into office next month. Trump has laid out an economic plan that he says would create 25 million new jobs over the next decade.
And while it's true that a degree holds considerable weight when one is only starting out in the work world, as time wears on, employers care more about experience than they do the degree.
Do you think the job market in the U.S. is as healthy as Yellen is making it out to be?