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Graduates Face Most Promising Job Market Since 2008

November 2, 2021
 
 

New college graduates face the rosiest job market since the 2008 recession, according to the latest annual recruiting trends survey by Michigan State University’s Collegiate Employment Research Institute.

Employers who cut back on recruiting during the COVID-19 pandemic are now scrambling to fill jobs, said Phil Gardner, author of the Collegiate Employment Institute Annual Recruiting Trends survey report.

“Add to this the historically high quit rate, and many employers are eager to find new talent,” Gardner said.

The top employment sectors are health services, education services, agriculture, transportation and construction, the survey found. Hiring among those with bachelor’s degrees is expected to climb 15 percent in 2021-22 but remain roughly the same for master’s and M.B.A. graduates. Fifty-three percent of starting salaries are expected to increase, according to the survey.

At the same time, the report noted ongoing uncertainty around supply-chain issues, staffing shortages and potential inflation. Many employers acknowledged the need for flexibility, with 46 percent saying they expected new hires to work on-site and 28 percent planning for hybrid arrangements. Nearly 30 percent of employers surveyed said they expected workers hired during the pandemic to have shorter tenures than those hired before.

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