The Class of 2023 is now looking to enter a market that is less eager to hire as companies are preparing for an upcoming recession. College career officials have said that employers are delaying their date of entry up to six months as they seek spending reductions. Consequently, 97% of college seniors surveyed have said that they are considering jobs outside their major, gig work, and graduate school. Although students don't seem to be panicking, they are working harder on applications and applying to a wider range of positions than typical.
The unemployment rate for college graduates aged 20 to 24 has doubled since December 2021. Students graduating this year face high competition as people who graduated in recent years are also seeking for jobs. Upcoming graduates must build their network, gain experience through internships, and be flexible toward their entry-level jobs. Entrepreneurship can increase due to the competitive market, which will also increase jobs. Graduates must adapt to the hand they are dealt and consider increasing their human capital through higher education.
https://www.wsj.com/articles/jobs-new-college-graduates-2023-labor-market-openings-7195e28?mod=economy_lead_pos3
Do you think there are companies that are willing to make an exception to their pushed-back hiring dates for a graduate that is highly qualified and willing to work for less pay?
ReplyDeleteThis is a scary topic as it is making many students reconsider college. I would be lying if I said that I hadn't thought of this issue myself. I think the United States is in a rough area especially when you look at what these colleges are charging students to go to their institutions.
ReplyDeleteI think it is smart that because of the current competitive job market more students are considering graduate school and it may pay off to do so since they will likely make more money and be in higher up jobs when they do eventually get a job.
ReplyDeleteThis is a very interesting topic to look at. I also think it is interesting to look at the give and take of not going to college and starting to work and get income, versus going to college to try and support yourself better in the long run.
ReplyDeleteThis is a great topic to cover with how hard it is for many to land internships and other job opportunities to advance their major. As most of the people taking this class are upper classmen it is good to be able to read how others perceive this issue and to have data regarding it.
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