The U.S. Bureau of Labor Statistics announced that the national unemployment rate lingers at 5.5 percent, with 126,000 jobs added in March. But the unemployment rate for college graduates fell to 2.5 percent, the lowest in nearly six years — a bright outlook for the Elon University Class of 2015.
The National Association of Colleges and Employers (NACE) said employers are expected to boost hiring 8.3 percent from last year because of an improving economy and an increasing number of baby boomer retirements.
Despite the number of jobs available, students often feel overwhelmed by the job market when they’re first starting out.
“It seems like every job you need experience for — even entry-level jobs,” said senior Katharine Fredricksen. “I feel like it’s really hard sending applications out into this void.”
The U.S. job market is yielding more employment prospects for college graduates across most areas of study, including architecture, social science, education and law. But a study released in February by Georgetown University revealed journalism and communication majors were the only two to post higher unemployment rates than previous years.
Still, college graduates have a much better chance of finding work than their peers — even those with experience — without college degrees. According to the study’s analyses, about 18 percent of young workers with only high school diplomas were unemployed — a 15.5 percent increase from their counterparts with college degrees. These numbers indicate a major shift in economic times. Additionally, the higher number of job openings for college graduates demonstrates the increasing importance of technology in the economy and the value of college-learned skills.
“I think college students are becoming more competitive, and thus some jobs are becoming harder to attain,” said senior Megan Porter, who will work in MetLife’s recruiting department after graduation.
The NACE survey also shows that recruiters are putting stronger emphasis on using technology to reach graduates. This year, about 65 percent of respondents plan to use more social networks, and a little more than 60 percent plan to use more technology in general.
Elon’s Student Professional Development Center provides several resources for students seeking internships and jobs. According to Elon’s website, 87 percent of students complete an internship before graduation, increasing their chances of landing a job that requires previous experience.
Simply Hired, a California-based technology company, used its own research and analytics to report that the fields with the most permanent, full-time openings for recent graduates are sales, marketing and public relations, customer service, human resources and engineering.
But some of these fields are seen as luxuries to companies, said Susan Martindill, director of demand generation at Simply Hired. The fact that companies are hiring anyone for these positions — let alone recent college graduates — indicates a strengthening economy.
The survey also showed that Still, the rate varies among the major worker groups — the unemployment rates for adult men is 5.1 percent, adult women 4.9 percent, teenagers 17.5 percent, whites 4.7 percent, African Americans 10.1 percent, Asians 3.2 percent, and Hispanics 6.8 percent. These numbers showed little or no change in March.
Additionally, there were 738,000 discouraged workers or persons not currently looking for work because they believe no jobs are available for them.