While the job market is still tough for recent college graduates, a report from the Federal Reserve Bank of New York shows that things are looking better for young professionals looking for employment.
The report shows that since last summer, the share of working graduates in jobs that
don’t require a bachelor’s degree has fallen from 46 percent to 44.6 percent and online postings for professionals with degrees has increased. During the wake of the Great Recession, unemployment in America had doubled, resulting in stiff competition for the few jobs available and leading to professionals applying to jobs they were overly qualified for. Now, with a growing economy and an unemployment rate that has hit a seven-year low, recent college graduates are in better luck of finding a job that will utilize their skills.[Related: 4 Career Building Tips for College Students on Summer Break]
One example of increased hiring for college graduates is consulting giant Deloitte. This year, the company boosted their hiring of millennials for federal government consulting jobs by the most since the recession. Jim Hagy, who oversees recruiting for the company, tells USA Today that part of its hike in hiring has to do with the pickup in economy spilling over into the public sector.While successfully working their way into the job market will not be an easy task for graduates, data such as this provides a better outlook on the employment opportunities for the class of 2015.