Economists say career adaptability will be key for entry-level applicants as the economy continues to shift.
May 5, 2023, 1:41 PM PDT
A career fair last month at a community college in Bolivia, N.C.Allison Joyce / Bloomberg via Getty Images
Millions of college seniors are donning their caps and gowns this week to walk across the stage and grab their hard-earned diplomas.
They’ll also be walking into a labor market that is very much in flux, with some bright spots for employment opportunities alongside some toppling of expectations.
Jobs growth last month beat analysts’ expectations in numbers released on Friday. Nonfarm payrolls increased 253,000 for April, more than the estimated growth of 180,000, according to the Bureau of Labor Statistics. The low unemployment rate edged even lower, from 3.6% to 3.4%.
But the report was the latest in a host of mixed signals about the health of the job market awaiting new graduates. Earlier this week, the latest Job Openings and Labor Turnover Survey for March showed new positions in the U.S. falling for the third consecutive month. Openings were down 384,000, the lowest level since April 2021.
