College seniors across the country are about to don their caps and gowns, but many of those almost-graduates could struggle to land that first job out of school.
Hiring The Newest Graduating Class
A study published by the National Association of Colleges and Employers says that employers are looking to hire more 2023 graduates than those who received their diploma in 2022.
But, that year-to-year difference has gotten slimmer. A 14.7% increase from 2022 hiring was projected in the fall, but the update released this spring only details that employers are expecting a 3.9% increase in hiring recent graduates.
These results came from a survey conducted from February 6-March 13, 2023.
That same report also acknowledged the difference in hiring between industries. Utility and information companies are predicting a decrease in hiring, while those in the transportation and chemical/pharmaceutical manufacturing industries are looking towards a hiring increase.
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A Season of Layoffs
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And new-degree holders are joining the job market while sets of large layoffs sweep some well-known company names.
Disney began its second round of layoffs earlier this week, with plans to eliminate 7,000 jobs in total. About 4,000 people have been affected so far at the company home to ESPN and Disney Parks, Experiences and Products.
Meta and Amazon are among the tech names laying off some of their workforce. Around 21,000 jobs are expected to be lost, according to Meta, and Amazon started its layoff process on Wednesday.
Gap, Lyft, Whole Foods and Walmart either have already laid off employees as well, or have plans to do so. Forbes spells out some of these workforce changes in a layoff timeline that stretches through 2023.
Job Hunting in NYC
Once graduates get their diplomas, one top consideration is what city or town they will call their new home.
And bringing a briefcase to the Big Apple could be a popular challenge.
The career-service Handshake produced a report that details where students in each region of the country hope to work. At the time of the report, New York City was at the top of the list for students in the Northeast, and the runner-up in the remaining West, Midwest, and South regions.
So, when it's time to make the big move, it's worth taking a look at which neighborhoods and boroughs might be a good fit in the current real estate market, with places in Brooklyn particularly on the rise.
