Luda Nodelman’s Post

New college graduates are being confounded and mentally exhausted by the unforgiving job market. “What we are experiencing now is a bit of a bifurcation of the labor market. The roles that need filling are often very heavily skewed towards those with less than a bachelor’s degree,” said Rachel Sederberg, senior economist at labor analytics firm Lightcast.  Lightcast’s data shows that job postings for bachelor’s degree holders with two years or less of experience from Jan-May ’23 to Jan-May ‘24 saw little difference in top occupations, industries, and skills demanded. However, there were 148,500 fewer job postings in that period for ‘24 than in ’23. For jobs that don’t require a degree, openings are up slightly from last year, from 65.75% of postings in 2023 to 65.98% so far in 2024. According to Lightcast’s data, 8 of the top 10 job postings in March were ones that did not require a college degree. “For jobs that don’t require a degree, we don’t have enough workers by any stretch, and they are having a great experience trying to find jobs,” Sederberg told CNBC. There also is a similar gulf in the degree skills market, with some jobs drawing scores of applicants while others sit unfilled. “The jobs out there don’t always align with the wants and needs of the candidates. There is a mismatch between the needs and the talent pool,” said Cindy Meis, director of undergraduate career services at the Tippie College of Business at the University of Iowa, That means some jobs get an avalanche of applications while other application inboxes remain empty. “Employers are keenly aware that nontraditional pathways to the workforce, not just college degrees, provide people with the skills and experiences to qualify for many jobs,” said Christina Schelling, Verizon’s Chief Talent and Diversity Officer, who oversees the talent pipeline entering the company. Schelling says the 2024 job market for grads is strong, but focusing too much on degree attainment alone is a mistake. About 99% of Verizon’s over 100,000 jobs do not require a college degree. “It’s easier to teach someone a technical skill than how to be resilient and find creative solutions to problems,” Schelling said. “That’s why, in interviews, candidates must highlight their appetite for continuous growth and intellectual curiosity. Large companies, now more than ever, are investing in employees and are committed to building skills.”

• A recent study by Indeed found that 52% of job postings now have no formal education requirement, up from 48% in 2019, as employers increasingly adopt skills-based hiring practices amid labor shortages. • The proportion of job postings requiring a 4-year college degree has declined from 20.4% to 17.8% over the past 5 years, with this trend observed across nearly all sectors including STEM fields. • With 64% of Americans lacking a bachelor's degree, the diminishing emphasis on degrees in hiring is an encouraging sign that investing in skills development could open more career opportunities regardless of education level. #Education #Skills #Degrees #Vocational #Edtech #K12Education #PrivateEquity #VentureCapital #ImpactInvesting https://lnkd.in/db5VbtuN

One of the many reasons why college enrollment is dropping is because institutions are failing to adapt their courses to help prepare students for shifts in the job market. As such, we are seeing an overproduction of degrees for industries that are rapidly shrinking. ---- "“What we are experiencing now is a bit of a bifurcation of the labor market. The roles that need filling are often very heavily skewed towards those with less than a bachelor’s degree,” said Rachel Sederberg, senior economist and research manager at labor analytics firm Lightcast."  ----- "That means some jobs get an avalanche of applications while other application inboxes remain empty." "There are plenty of applicants for marketing jobs, “but accounting degrees? We can’t produce them fast enough,” Meis said. She added that most recent graduates have different experiences they are trying to get out of work than their slightly older counterparts. The newly graduated want to return to the office, while older workers are more open to maintaining pandemic-era home office work." https://lnkd.in/eFw9szqe #college #highered #labor #employment

"The labor market’s cooldown is hitting new college graduates hard, four years after the pandemic derailed their schooling." #intimestaffing #staffingagency #employment #newcareer #careergrowth #staffingandrecruiting #hiring #staffing #business #quality #recruiting #opportunities #jobsearch #careers #talentacquisition https://lnkd.in/geegJ_QV

Many new and recent college graduates are finding it harder to get jobs in certain industries due to stiff competition and lack of openings. There is a growing number of jobs that do not require a college degree and many college graduates are skipping over those roles to compete for a dwindling number of higher skill jobs, especially in the technology sector. The labor market remains strong but many of the highly competitive jobs are attracting much more attention from candidates than other lower skill but still quality jobs that remain open. Talent pipelines and the way candidates search for jobs is evolving and those unfilled roles are picking up new ways to attract the huge number of job seekers. https://lnkd.in/eYiTq9FJ

How does today’s job market work? In short, it works completely differently than just one generation ago. Yet, most teenagers are told to forge ahead as if nothing changed. I reference this study in my soon-to-be-published book, Pathbreaker Parenting, and I hope you take the time to review the results of what happened when four recent college graduates applied online for 300 jobs. https://lnkd.in/eAQdefhq (Spoiler alert: they went 0 for 300) From Pathbreaker Parenting... “This study frustrated me because these young adults were terribly misled. What a college degree supposedly signals—things like work ethic, maturity, knowledge, and persistence—no longer sets anyone apart. Their signal falls on deaf ears because millions of other college graduates are sending out the same signal and applying for the same jobs in the same way (online applications). While sitting in classrooms, studying for tests, and going to parties, these four college graduates were not doing what they’re now being told matters. They were not gaining on-the-job experience, fostering an active network of experienced people, or building a portfolio showcasing in-demand work." 🤔 Are many of today's teenagers being misled? To learn more about the book 👇 https://lnkd.in/eJqcup43

This is a hard market for new grads, a formative time that has been shown to impact one's career trajectory and lifetime wealth. There are far less positions for those with 0-2 years of experiences than there were even a year ago. Many are resorting to careers that do not require the degree they just obtained. This is by no means a bad job market. There are actually a significant number of available roles. "The jobs out there don’t always align with the wants and needs of the candidates. There is a mismatch between the needs and the talent pool." One of the factors contributing to the decrease in entry level roles is the number of overall candidates looking for a new job. Because of the abundance of applicants, many companies are raising the skills and years of experience requirements. I don't share of this to scare. I share this information to inform parents and rising professionals. If it's taking you longer than you expected to land your first "real" job, you are not alone or unhireable. This market will require more strategy and hustle than it has in the recent past. While this is not fun news to hear, learning how to effectively job search this earlier in your career will pay off for decades to come!!!! #jobsearch #risingprofessional #newgrad #entrylevel #resume #findajob #lovewhatyoudo #collegedegree #careercoach #studentcareercoach #students #collegestudents

🚨 **TL;DR:** Alright, here's the scoop – a third of companies are saying "bye-bye" to those pesky college degree requirements for salaried jobs. Yeah, you heard that right! Turns out, they're more focused on skills and experience than that fancy piece of paper. So, if you're a college dropout or never set foot in a lecture hall, fret not – there might still be a sweet gig waiting for you! *Key Points:* - 33% of companies are waving goodbye to college degree requirements for salaried positions. - Skills and experience are taking center stage over traditional education credentials. - If you don't have a diploma, don't sweat it – your skills could land you that dream job! *My Take:* It's about time companies recognized that skills and experience matter more than where you went to school. By ditching the degree requirement, they're opening doors for talented individuals who may not have followed the traditional academic path. So, if you've got the skills, flaunt 'em – your dream job might be closer than you think! *Conclusion:* With a growing number of companies ditching college degree requirements, the job market is becoming more accessible to individuals from diverse backgrounds. It's a win-win situation for both employers and job seekers – skills matter more than ever, and opportunities abound for those ready to seize them! #collegedegree #ba #degree Link: https://lnkd.in/dpyrrk_B

**Challenging Times for Recent College Grads: A Wake-Up Call for the Job Market** As the overall economy continues to thrive with an unemployment rate under 4% for over two years, a stark contrast emerges in the job market for recent college graduates. The unemployment rate for bachelor's degree recipients aged 20 to 29 has surged above 12%, a significant increase from the previous year. Many graduates are facing rejection and disappointment, with AI-generated rejection emails becoming the norm. The struggle is real, as seen in the stories of Bryn Savidge and Angela Mangione, who have applied to numerous jobs without securing full-time positions. This trend serves as a warning sign for the overall job market. When college grads face more difficulty getting jobs, it could signal a broader economic slowdown. Employers are increasingly valuing experience, making it tough for new graduates to compete. Furthermore, underemployment is a significant issue, with many graduates working in jobs that don't require their degrees. This trend is expected to persist, with a high percentage of underemployed graduates remaining so five years post-graduation. What does this mean for us? It's time to reassess our hiring strategies and consider the long-term implications of this trend. Let's discuss: - How can we better support recent graduates in their job searches? - What changes can we make to our hiring processes to give new talent a fair chance? - How will this trend impact the future of our industries? Share your thoughts and let's work together to create a more inclusive and supportive job market for all. **#JobMarket #CollegeGrads #Underemployment #EconomicTrends #HiringStrategies**

Eager to hire soon-to-be college grads? You'll want to dive in to Monster's State of the Grad survey. "It’s critical to understand how the newest additions to the workforce are approaching employment, and what they are expecting from employers,” said #Monster CEO Scott Gutz in this HR Dive article. Find out what candidates are looking for and see key insights from the report here.