Why the Job Market for New Grads is the "Opportunity of a Lifetime"
With quit rates remaining elevated and salaries soaring, the latest batch of graduates are certainly entering the workforce at a time when companies are having significant trouble finding talent, which creates ample job options compared to some prior generations.
Almost 90% of employers surveyed in the National Association of Colleges and Employers Job Outlook 2022 Spring Update said they were hiring for both full-time and internships, which is up from 83% in 2021. About 10% said they would be hiring for either full-time or internships, and no one responding to the survey said they weren’t hiring.
A separate survey by ZipRecruiter Inc. found employers were lowering the experience requirements for millions of roles and were offering additional benefits to attract college grads, such as student loan repayment programs.
“Young people spend a large share of their income on food, rent and gas, so inflation is hitting them hard. But new grads are well-positioned to go after job opportunities now that can set them up for long-term success,” said Ian Siegel, ZipRecruiter co-founder and CEO. “Fortunately, the class of 2022 is entering a very favorable job market. If you graduate into a slow market, the negative effect on your earnings can last 10 to 15 years. But if you graduate into a hot job market like we’re seeing today, the benefits can last a lifetime.”
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