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New graduates Might Have a Difficult Time Landing Jobs Despite a Strong Labor Market in the US
The new college graduates who were on the job market in 2024 found it hard to get a job despite the generally good labor market. Studies have found that the hiring trends are changing, with employers planning to hire about five individuals. 10% fewer new graduates of the Class of 2023 than the previous year.
Some fields like chemical manufacturing, finance, insurance, and real estate have slowed down their hiring plans, whereas others like miscellaneous manufacturing, utilities, and professional services are on the rise. The job market for the Class of 2024 is a combination of the good and the bad and opportunities and problems.
Though the industry is still looking for new people to fill the open spots and companies are ready to hire new talent, the graduates are told to be strategic in their job search. Specialists, in general, always pay attention to the fact that one should know the job descriptions, company cultures, and missions before applying.
Moreover, alum networks, mentorship, and career counselors can offer distinct support in settling the job market4. Although there are obstacles, new graduates can use some main strategies to make them better job seekers. What one should do to prevent underemployment is to choose majors that are in demand by employers, complete internships, and adapt to the changing job market.
The Burning Glass Institute and the Strada Institute for the Future of Work have found that about 52% of college graduates are underemployed a year after graduation, which shows the need for the skill and the industry to match. The job market keeps changing; thus, graduates are advised to stay determined, flexible, and proactive when looking for a job. Although the landscape might be more competitive, having the right skills, being ready to work in different jobs, and concentrating on the hiring sectors can be key turning factors in getting the best job possible.
The present environment underlines the importance of the learning process, the connection with peers, and the awareness of industry trends to successfully cope with the changing job market.
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