Job prospects for new college graduates have improved this year – but so has the competition.
The coronavirus pandemic and ensuing economic shutdown last year meant many 2020 graduates didn’t have access to the same job opportunities that they would've had in a normal year. (Some companies even went as far as to rescind job offers.)
The unemployment rate for recent college graduates shot up to 12.8% in October 2020 from 9.9% in October 2019, and was much higher than the 6.9% rate for the overall labor force in October 2020. (The national unemployment rate in October 2019 was 3.6%.)
A bit of good news is emerging from the ramp-up in vaccinations and broad re-opening of businesses across the U.S. According to a March report by the National Association of Colleges and Employers, companies plan to add 7.2% more college graduates from the class of 2021 to their payrolls than they did from the class of 2020.
How to get hired with no experience
Hiring experts say a top concern for new graduates looking for their first job is not having work experience to show employers.
“I hear this all the time, for new grads, many of whom have not had extensive work experience, they say that ‘I don’t have any skills.’ And that’s actually not true,” says LinkedIn career expert Blair Heitmann. “It’s important not to discount the in-demand skills that you’ve picked up during your experiences that you’ve had.”
For instance, stepping up and making masks for the elderly during the pandemic in a volunteer capacity shows creativity, problem solving, leadership, and the type of initiative employers want to see, says Heitmann.
Building a professional network may be easier than new college graduates might realize.
“New grads and current students often have a wider network than they think [when you include] your classmates, your friends, your former coaches, your professors, even fellow employees from the campus,” says Heitmann. “Stay in touch with your network.”
In order to land one of the fastest growing entry-level positions, new graduates don’t have to give up on their dream job. The tech and healthcare industries are at the top of LinkedIn’s list of entry-level jobs, but grads interested in a career in, say, fashion don’t necessarily need to forego that field. Nearly every industry has a demand for tech these days.
“Right now we know that software engineer and online specialist are two very popular jobs that are available to grads...but that doesn’t mean you have to give up on what your interests are,” says Heitmann. (“Online specialist” is a general term for work ranging from social media to online marketing.) “For example, whether you’re interested in fashion, publishing, retail, or accounting, there are currently opportunities in these types of industries for an online specialist,” says Heitmann.
So who’s hiring new grads?
The industries with the most entry-level openings are transportation & logistics, healthcare, software & IT services, retail, and consumer goods, according to LinkedIn’s 2021 Grad’s Guide to Getting Hired.
The top five fastest growing entry-level jobs are software engineering specialist, online specialist, sterilization technician, wellness specialist, and medical technologist.
The most in demand skills employers want from new graduates are analytic skills, project management, customer service, marketing, and time management, according to LinkedIn.
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