Posted on 12/26/2021 5:05:33 PM PST by SeekAndFind
The college class of 2020 entered one of the most hostile labor markets in recent history. During the first year of the Covid pandemic, employment decreased across the country. By many measures, college graduates fared best during this period, but as time passes, research is capturing just how difficult conditions are for young workers.
The National Association of Colleges and Employers (NACE) recently analyzed the outcomes for 563,000 bachelor’s graduates across 337 colleges and universities and found that only 50.2% of the class of 2020 had full-time jobs with a traditional employer (meaning they are not working as a freelancer or entrepreneur) within six months of graduation. In comparison, 55.3% of the class of 2019 graduates were employed within the same time frame.
Students who attended colleges with fewer than 2,000 students tended to do better after graduation. Closer to 62% of these students had full-time positions after six months.
“The Covid-19 pandemic had a significant effect on the job market for the Class of 2020, and our report illustrates that,” says Shawn VanDerziel, executive director of NACE. “In terms of employment within six months of graduation, 2020 graduates had the worst outcomes since we began tracking with the class of 2014.”
According to an analysis of Bureau of Labor Statistics data from January 2020 to October 2020 by Pew Research Center, 2020 college graduates saw a bigger decrease in labor force participation than those who graduated during the Great Recession.
Pew estimates that among all Americans ages 16 and older, the employment rate declined from 61% in October 2019 to 58% in October 2020.
(Excerpt) Read more at cnbc.com ...
OTOH, after 3 years of retirement, I went back to work in July. It's a great family owned business, I've made the decision to make this my final landing spot...even if the FDIC were to call me back.
Advise your son that the grass is not greener on the other side of the fence.
Thanks! I will tell him that. He actually loves his job—except that he wishes he could be in the office, and do all that traveling that they normally would be doing (since he’s single, and his territory would normally include Hawaii).
His group was supposed to return to the office at the end of Jan but he’s worried that doesn’t look likely now. . .
I’m very sad for CA K-12, college, and young adults—they are missing out on a lot. I have 3 young adult children with jobs and NONE of them has ever worked in an office. Maybe they never will. But they long to. A hybrid solution would be good I think.
I worked in HR for a Tier-1 auto stamping plant. Back in the 70's and 80's our training dept. would go to jobs fairs hosted by colleges in an attempt to recruit grads into our management training program.
Typically they would be placed out in the shop as line supervisors.
From my viewpoint, that was a waste of time since the best supervisors were the hourly workers who actually worked production and were promoted to supervision.
They also have no sports, few fees, no PC nonsense. No forced diversity.
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