The Atlanta Journal-Constitution
Make the most of improving market
Firms set to hire, but job seekers can expect competition.
The national unemployment rate slipped to 5.6 percent in December, the lowest level since June 2008, when the Great Recession was underway.
For young workers, the search for employment has been particularly challenging, but that finally may be changing.
In a survey last fall by Michigan State University’s College Employment Research Institute, employers said they will ramp up hiring of college graduates by 16 percent this year — a level not seen since the dot-com mania of 1999-2000.
Another survey by the National Association of Colleges and Employers was less bullish, finding that employers plan to increase hiring of 2015 graduates by 8.3 percent. Even so, the news is positive.
Philip Gardner, director of the College Employment Research Institute, says a couple of things are driving the hir- ing surge. For one, employers are finally experiencing growth, and after years of delaying hiring, companies need to match the number of employees they have with increased demand.
Also, turnover has increased, as workers leave for new opportunities and the baby boom generation begins to retire.
“Potential retirees are better off right now than they have been in a long, long time,” Gardner said. “So, there is focus on getting ready to move out (of the workforce).”
With that in mind, what should a 2015 college graduate do to make the most of the improving job market?
Start the job search now. In recent years, employers have tended to do the bulk of their recruiting on campus during the fall. But with demand for workers rising, hiring is expected to be robust during the spring, as well.
According to the National Association of Colleges and Employers survey, 47 percent of companies have firm recruiting plans in place for the spring, up from 43 percent last year.
“Since 2008 and up until maybe last year, recruiting was wrapped up pretty much by Christmas,” Gardner said. “This year, hiring will take longer and go well into the spring.”
In other words, if you haven’t started the job search yet, there’s still time to put together your resume, attend recruiting events and submit your application for job openings.
Just don’t expect the process to be easy.
“There’s a lot of competition for qualified candidates, but ‘qualified’ is the key word,” Gardner said. “It’s not a labor market like we had in 1998 and 1999, when anybody who could breathe got a job. This one’s going to be very dependent on the skills and competencies that students bring to the table.”
Case in point: Last year, 5.6 percent of positions went unfilled, up from 4.5 percent the year before, according to the National Association of Colleges and Employers.
Network. As with previous years, networking will be one of the most effective ways to find a job.
“We know it’s not just about attending job fairs, but about making connections and following up,” Gardner said.
Students who have completed an internship or have work experience will have an advantage, as well. According to the National Association of Colleges and Employers survey, 73 percent of employers said they prefer to hire 2015 graduates with relevant work experience. Another 20 percent said they prefer candidates who have any work experience, related or not.
Be prepared. To impress recruiters, you’ll need to do some homework. Research potential employers and make sure your resume and cover letters are free of errors and tailored to a specific opening.
“Employers want to see at least a modicum of polish,” said the report by the College Employment Research Institute.
Using social media and online job search tools may help you connect with the right employers, too. But again, you’ll want to make sure your profile online is as professional and as thoughtful as a printed resume. Need help? Contact your school’s career center.