<p>Cognitive flexibility is an essential skill for successfully adapting to the needs and changes in environments. The Cognitive Flexibility Scale (CFS) is widely used in research and shows good validity and reliability. However, there has not been much research on the validity, reliability, and factor structure of the CFS. CFS is also a widely used measurement tool in research with English speakers and has been translated into Japanese, Spanish, and Italian. Earlier studies have yet to report the factor structure of CFS by using confirmatory factor analysis. There is currently no study about the factor structure and psychometric properties of CFS in educated, unemployed emerging adults. The objective of this study is to fill this research gap by analyzing the factorial structure, construct validity, reliability, and adaptation of the CFS.</p><p>The participants in this research were 207 undergraduate college graduates aged 18–29 years who had been unemployed for at least six months. The sampling technique uses convenience sampling. The measuring instruments used are the Cognitive Flexibility Scale, Connor-Davidson Resilience Scale, Proactive Personality Scale, Critical Thinking Disposition Scale, and Individual Entrepreneurial Orientation Scale. The analysis technique uses Confirmatory Factor Analysis. The results of this study support a one-factor structure of CFS. The concurrent validity and predictive validity tests showed that CFS positively correlated with critical thinking disposition, proactive personality, resilience, and individual entrepreneurial orientation. CFS is a measuring tool with good validity and reliability, so it can be used in research and training programs to increase cognitive flexibility.</p>