It’s been a rough few semesters, but there is good news on the horizon for the Class of 2021! As vaccines are rolling out and the economy is slowly opening back up, employers are following suit with an increase in hiring.
According to one recent estimate, “if the GDP forecasts prove accurate, we estimate that monthly payroll employment gains over the next 10 months will average between 700,000 and 1 million per month, a lot faster than many forecasters anticipate. The pandemic recession was unlike any previous recession. The U.S. lost almost 9½ million jobs between February 2020 and February 2021, many more than one would have anticipated based on past episodes of declining GDP. The lost jobs were disproportionately low-wage, low-productivity jobs. The post-COVID recovery will be different as well. Jobs are likely to return at a faster pace than ever seen before on a sustained basis.”
For our seniors who are looking to head directly into full-time employment, a recent National Association of Colleges and Employers survey of employers nationwide backs that prediction up. NACE reports that despite predicting a decline in projected hiring as recently as late fall, recruiters who work with recent college grads anticipate college hiring to increase by 7.2% for the Class of 2021.
“Almost 30% of respondents now report that they will hire more new college graduates—up from 16.5% in the fall—and just 8% plan to decrease hiring, down significantly from 31% reporting such plans in the fall.“, according to NACE.
If you are preparing for a full-time job search NOW is the time to do a thorough review of your tools and your professional story to get ready for the professional marketplace!