Tl;dr It’s steady. It’s slowing down, but it’s good. Better off applying now than waiting. Some cities are hiring more than others.
Recruiters are looking to hire more college graduates than they did last year. Yay! According to the National Association of Colleges and Employers, as of April 2023, employers are planning to hire 4% more graduates from the Class of 2023 than they did from the Class of 2022. Nearly 90% of employers are planning to either maintain or increase their overall hiring compared to last year. More good news… employers are expecting to increase their hiring of interns this summer by more than 9% compared to last year.
According to the U.S. Bureau of Labor Statistics, the unemployment rate for 25-34 year olds with a bachelor’s degree is at 2.9%. Those with a master’s degree is even lower at 1.5%. Clearly, that bodes well for those who are graduating with a degree.
Job openings in the “Professional and Business Services” sector is high – especially compared to a decade ago – but it’s slowing. Take a look.
According to LinkedIn Workforce Report, in April, there were month-over-month increases in 8 out of 20 industries. The biggest gains were in “Farming, Ranching and Forestry” (+11.7%), “Utilities” (+5.8%), and “Oil, Gas and Mining” (+4.2%). The biggest declines were in “Accommodations” (-4.4%), “Entertainment Providers” (-3.4%), and “Retail” (-1.7%).
The same report also noted that there were hiring increases in 14 of 20 metro areas. The biggest games were in Miami/Fort Lauderdale (+6.2%), Minneapolis (+4.7%), and Nashville (+4.1%). The biggest declines were in St. Louis (-7.0%), Seattle (-2.4%), and San Francisco Bay Area (-1.4%).
Recommendations:
- Know what you’re good at and what you’re looking for. Not sure? Come meet with us! We can help.
- Talk to alums and get advice
- They remember what you’re going through. This can be more helpful than you think, but be prepared for the conversation. (Don’t know how – come talk to us!)
- Cast a wide net – Apply to a variety of similar jobs, across several different industries, in a variety of locations.
It’s never too early. It’s never too late. Start today! (And the data suggests, you might not want to wait!)
