The U.S. job market is showing real cracks. Young college graduates aged 20–24 are facing an unemployment rate of 8.5%—the worst since the 2020 pandemic shock. Even worse, the broader unemployment for workers 25+ is climbing toward 3%. Here's the twist: despite this deterioration, college graduates still pull in 55–60% of all U.S. labor income. It's a tale of two markets—institutional income concentration at the top, rising joblessness underneath. For macro watchers in crypto, this signals tightening economic conditions that could reshape institutional capital flows and risk appetite in coming months.