New college graduates still looking for their first jobs would be classified in the BLS data as.

Frictional unemployment

Explanation:

People remain temporarily unemployed when they leave their old jobs for the job which is better for their preference and skills, this type of unemployment is called frictional unemployment. It also includes the students who have graduated and are still unemployed. Economists consider it to be good for the economy as finding as job which matches their skills takes time and when such a job is found it allows people to fully utilise their skills.