Once upon a time, getting a college degree was a guarantee for a fancy job and a stable life, but not anymore. Nowadays, many new graduates have soon realized that the job market isn’t exactly working in their favor anymore. This is also causing issues for the economy, as there are lots of qualified workers who just don’t have jobs. Let’s take a look at what’s going on.
Job Offers Aren’t Keeping Up
Even after all those exams and late-night study sessions, companies aren’t lining up to hire people from the younger generation. For those people lucky enough to get a job, usually, it’s not what they’ve been looking for. For example, some graduates are working in call centers for low pay, just so they have money.
Too Many Degrees
While the number of people getting a degree these days is higher than a few years ago, this isn’t exactly great news. Having a diploma isn’t as special anymore, and it doesn’t have the power to make someone seem like a better candidate for a job. It no longer gives people the edge anymore.
Fewer Jobs Available
As if that weren’t bad enough, reports show that hiring for new graduates is likely to drop by almost 2% this year. This means more competition among candidates and a lot more stress for everyone trying to get a job. It doesn’t look like these difficulties to get employed will ease up anytime soon.
Economic Issues
Economic problems are affecting everyone, particularly new graduates. Companies are cautious about hiring staff because of inflation and rising interest rates, and they’re especially wary of hiring younger people without any experience. They might have some good skills, but graduates are seriously struggling to find employment.
Job Hunting
The process of getting a job has also become much longer. The average person takes around six months just to land an interview, and there’s no guarantee they’ll even get the position. This long wait can cause major problems for their career plans and their finances since they don’t have any coming in.
More Soft Skills
Many employers are also looking beyond candidates’ technical know-how and toward soft skills. They want graduates who are good at communicating, leading, and working in teams. Even if someone has a good degree, they’ve got to show they can play well with others and lead when necessary.
Hiring Seasons
Traditionally, many employers followed made their recruitment processes fit with academic calendars, although that’s not the case anymore. Many of them are opening up opportunities at less conventional times, like at the start of the year, which doesn’t always work for graduates or those soon-to-be. This means that these companies can adapt quickly to changes in the market.
Networking Doesn’t Always Work
While knowing people can help you get a job, it’s not necessarily a magic solution. For many young graduates, it doesn’t get them the job that they’re looking for, or that fits their qualifications. Many employers simply try to fill their positions quickly rather than find the perfect match.
Is College Worth It?
It’s no surprise that many young people are questioning if there’s any point in getting a traditional four-year degree. Many of them are turning towards trade schools or apprenticeships, as these can get them good jobs without drowning them in student debt. They also usually give them practical skills that are in high demand.
Improving Universities
Colleges may also need to improve what they’re teaching and whether it’s what employers are really looking for. They might need to give a more realistic view of what the future holds for young graduates and change their programs to meet current market demands. This way, graduates will have the skills that employers are actually looking for.
Choosing a Major
Anyone going to college or choosing a major should think carefully about the fields that directly link to certain jobs. For example, fields like tech or medicine often have a clearer path to employment than more general degrees. Prospective students should research potential career paths and job availability in their field so they know they’re making a well-informed decision.
The Power of Internships
Getting an internship can also make a huge difference because it’s a chance to show off their skills directly in front of potential employers. It shows them what they’ve got beyond just good grades and gives them a taste of the real world. Internships help young people to build professional knowledge, which you just can’t get from college.
The World Is Your Oyster
Thanks to remote work, people can look for jobs outside of their local area by applying for positions way beyond their geographic boundaries. This can be good news for young graduates as it gives them plenty of opportunities that just weren’t available a few years ago. They can choose from several different jobs without having to leave their home.
Global Competition
Unfortunately, this is also bad news, as the job market means that these graduates are up against the whole world. They need to be at the top of their game and show that they truly stand out compared to these global candidates. To do this, graduates can try learning new skills or languages that give them an edge.
Tech Skills
It’s impossible to overstate the importance of tech skills, as they’re useful in almost every career. Many employers expect graduates to have good technological skills relevant to their fields. Falling behind can mean missing out on job opportunities, which is why graduates need to get ahead by learning them.
Plan B?
In some cases, freelancing may be an option as a backup or even a full-time plan. Freelancing is flexible and allows graduates to work on different projects, although it’s not as stable as a regular 9 to 5. The benefits can be pretty good, though, as some freelancers earn more than traditional jobs.
Keep Learning
Of course, learning shouldn’t stop at graduation, and graduates should continue to pick up extra certifications once they’ve finished. The more skills they acquire, the better chances they have of getting a good job, which can be particularly important in quickly evolving fields. Keeping up to date with the latest developments can make them a valuable part of the workforce.
Alumni Networks
Lastly, even though it might not be as useful as it was before, it’s still important for graduates to keep networking. Once they’ve graduated, they should speak to their college’s alumni network, as they can give graduates lots of useful opportunities and advice. These alumni can teach them how to avoid common mistakes in the industry to secure employment.
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