While it’s no secret that finding graduate jobs hasn’t been easy these past several years there seems to be a lot of confusion on whether or not the economy and job market itself is actually improving. It seems as if everyone has an opinion and isn’t afraid to express it whether it is backed up by facts or not. The good news is that many of the top economists are predicting a continuation of the trend of steady, albeit very slow, recovery of the graduate job market in the United States and elsewhere.
According to an article posted by USA Today the US government has reported that 2011 will be the strongest year for job recovery since the beginning of the Great Recession. Employers are expected to add an average of 183,000 jobs per month as opposed to 94,000 a month back in 2010. This is a significant increase and forecast a great outlook for graduate jobs in 2011.
An optimistic job market for graduates in 2011
Popular job search site Beyond.com has recently published a press release also upholding the belief that 2011 will be the best year for graduate jobs since the beginning of the economic crash. According to information gathered from thousands of top-tier industry and local career sites graduates of 2011 will see an employment rate increase of 13%.
Here is a list the top 10 industries provided by Beyond.com, Inc. –
1) Clerical & Administrative
2) Sales & Sales Management
3) Merchandising, Purchasing & Retail
4) Arts, Entertainment & Gaming
5) Customer Service
6) Management & Business
7) Accounting & Finance
8) Information Technology
9) Healthcare & Medical
10) Engineering & Architecture
In fact Rich Milgram, CEO of Beyond.com stated “2011 graduates are entering a better job market than the last few graduating classes have experienced. As we continue to come out of the recession many companies will have a tendency to build from the bottom up, hence the increase in available entry-level jobs. Additionally, these revived opportunities seen at the entry-level are a good indicator that the economy as a whole will continue to grow.”
Statistics from the US Department of Labor
In a report released by the department of labor on February 4, 2011 it was stated that while the unemployment rate continues to steadily fall overall some industries are benefiting much more than others. In fact some industries are expected to make massive gains in job creation in 2011.
The healthcare industry has traditionally remained very strong during the recession in terms of its ability to hire new workers. According to the Bureau of Labor Statistics of the US Department of Labor it averaged 22,000 jobs added per month in 2010 and looks to continue this trend in 2011.
Perhaps even more interesting is the recent increase in jobs in retail trade. Since its recent low point in December 2009 this industry has added a staggering 123,000 jobs. In January alone it added a total of 28,000 new jobs.
While many graduates may not have degrees pertaining to the retail trade industry it should be noted that this is still great news for any graduates seeking part-time employment a job matching their degree can be found.
A Selective Improvement in the Job Market
While economists have been saying the graduate jobs situation has been steadily improving many graduates are still struggling to find jobs and pay back student loans. The reason for this discrepancy is the fact that the recovery of the graduate jobs market has not been equal in all fields of employment.
While job growth is expected in all industries other than state and federal employment, which is expected to shrink by 1.1% according to USA Today, some industries will be making much less progress than others. The type of degree you have will greatly influence how hard or easy your search for graduate jobs will be.
Here’s a list of some the slowest growing industries according to the US Department of Labor –
- Construction
- Transportation and Warehousing
- Couriers and Messengers
- Financial Activities
- Temporary Help Services
- Educational Services
- Personal and Laundry Services
- Real Estate
- Depository Credit Intermediation
Make your own opportunities
While the overall outlook for graduate jobs in 2011 is greatly improved over 2010 and previous years that’s not to say that the job market is fully recovered yet. Depending on your degree you may find yourself struggling to find employment even as economic recovery continues. This can be frustrating but don’t forget that there are always opportunities out there for the taking.
Remember that finding graduate jobs is a numbers game more than anything else. By not limiting your search area and by submitting resume resumes as possible will greatly increase your chances of being hired. Keep in mind this may not be your dream job but will allow you to gain experience which will be valuable as new opportunities present themselves.
The market for graduate jobs is expected to continue to improve for years to come so always be on lookout for new opportunities. Take your future into your own hands and building tomorrow that you can be proud of.
Sources:
Business Wire. “2011 College Grads Face Optimistic Job Market, According to Beyond.com Report”. http://finance.yahoo.com/news/2011-College-Grads-Face-bw-1246121785.html?x=0&.v=2 (Feb 27 2011)
Bureau of Labor Statistics US Department of Labor. “The Employment Situation – January 2011”. http://www.bls.gov/news.release/pdf/empsit.pdf (Feb 27 2011)
Davidson, Paul/Hansen, Barbara. “Jobs to Pick up in 2011, Analysts Predict”. http://www.usatoday.com/money/economy/2011-01-07-1Ajobs07_CV_N.htm (Feb 27 2011)