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Today, students must navigate an increasingly complex labor market and ecosystem of postsecondary credentials in order to make decisions about their major and career paths. Resultantly, an increased amount of attention and investment has been dedicated to supporting students and schools in the process of using labor market information to guide decision-making. These efforts would benefit from insight into students’ sensemaking about the labor market. This paper utilizes Philip’s (2011) concept of naturalized axioms to explore what students know about the labor market and how they activate this knowledge to make decisions about their major and career paths.