The Boston Globe featured an encouraging article discussing what economists are calling “the best job market for new college graduates in nearly a decade.” The reasons? “The improving US economy and accelerating retirements of baby boomers create job openings across many fields.”
Note this: Not just more jobs, but more jobs requiring college degrees. “Almost all the net increase in jobs is in these jobs that require a college degree,” said Paul Harrington, director of the Center for Labor Markets and Policy at Drexel University in Philadelphia. “Kids coming out of college are going to have a pretty good year.”
Here’s a quote from the article:
The class of 2015 will enter what economists say is the best job market for new college graduates in nearly a decade, as the improving US economy and accelerating retirements of baby boomers create job openings across many fields.
College and university career offices say their graduates are having a far easier time landing positions, and far more employers are coming to campuses to recruit. At the University of Massachusetts Amherst, for example, 104 companies were on campus at a fall job fair to recruit engineering and technology majors, up from 89 last year and 65 in 2010.
Here are a few more interesting stats from the article:
- In 2009, college grads competed with other jobseekers 1:7. In 2015, college grads will compete 1:1.5.
- State and national unemployment rates are down from the previous year (4.8% and 5.4%, respectively).
- If these trends continue, average annual salaries for entry level jobs should start to rise.
EMSI also projects that the US economy will add 3.4 million new jobs from 2014 to 2016.
All this is certainly good news for the economy and the many people trying to find a good career. But a key question remaining for many grads is, What am I supposed to do with this degree? That’s one of the questions Find Your Calling can help you answer. Read about how it works. To stay in the loop on the release of Find Your Calling (expected summer 2015), click here.