Prospects for newly minted graduate Doesn’t look as good as it used to.
Employers plan to hire about 4% more new college graduates from this year’s class than they have hired since Class of 2022, according to a report from the National Association of Colleges and Employers.
That number, however, fell dramatically from earlier predictions: In the fall, employers said they would increase hiring by about 15% year over year.
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The NACE report found that tech companies in particular have significantly scaled back their college hiring.
Year-to-date, job cuts have increased by nearly 400% year-over-year, led by layoffs in the tech sector, according to another recent company report. provide outsourced services Challenger, Gray & Christmas.
As those layoffs increase, job opportunities has also begun to decline. Positions available in February below 10 million for the first time since May 2021, according to data from the US Department of Labor.
“We know that companies are approaching 2023 cautiously, even though the economy is still creating jobs,” said Andrew Challenger, senior vice president of Challenger, Gray & Christmas.
Start looking for a job early
As a result, many college seniors are seizing the opportunity to: 62% accepted their first job after college, compared with just 20% from the Class of 2022 at this time last year, according to a report by LaSalle Network.
Tom Gimbel, CEO of LaSalle Network, said: “Graduating students “want to have something on their hands more than before”.
His advice: “College seniors should interview with as many companies as possible and don’t worry about industry or location.”
“The earlier you start planning, the more options you have,” he says.
Vicki Salemi, career expert at Monster, suggests setting up job alerts to find job openings as they become available, and aim to apply within 24 hours.
But first, take a few minutes to write your cover letter, tweak your executive summary and rearrange your bullet points to reflect the job description, she says. For example, “if the first line item is about travel, highlight that you studied abroad.”
Then do a final review to detect any spelling or grammatical errors before hitting submit.
And don’t just apply online, warns Barbara Safani, president of Career Solvers in New York.
Recent or upcoming graduates can also stay ahead of the competition by connecting with parents, professors, family friends, classmates, and an extensive alumni network. “Attend career fairs on campus for a chance to speak directly to employers,” she says.
“Be present; don’t hide behind a screen.”
