While finishing school is an exciting chapter in a new graduate’s life, it’s often a stressful time too. After graduation comes the inevitable job hunt, which can be a nerve-racking experience for new grads looking to enter the workforce. There’s good news for 2015 graduates, though: employers are planning on hiring more new graduates this year than they did last year. So, as you prepare to begin your job search, consider this information concerning new grad job placements:
Projected Hiring Statistics
From August 11, 2014 to October 7, 2014, the National Association for Colleges and Employers collected data for their Job Outlook 2015 survey. Overall, they found that employers plan to hire 8.3 percent more new graduates in 2015 than they did in 2014. There’s also good news for Class of 2015 graduates who enjoy travelling: the projected increase doesn’t only apply to jobs in the United States. For international positions, the hiring rate for new grads is projected to increase by 3.2 percent.
While 46.4 percent of companies surveyed plan to increase their hiring of recent grads, the second largest group of respondents–45.9 percent– plan to maintain their current hiring levels. Perhaps the most encouraging news of all for students approaching graduation is that only 7.7 percent of companies plan to decrease their hiring of new grads.
Why the Demand?
As the economy rebounds from the great recession, companies are once again growing and thriving. As business needs increase, new talent is needed in all industries. According to Phil Gardner, director of MSU’s Collegiate Employment Research Institute:
“Competition for qualified candidates is escalating to a degree rarely seen in the past 10 years.”
In addition to company growth, hiring of new graduates is predicted to increase due to anticipated retirements.
Which Industries Will Hire the Most New Grads?
While hiring is projected to increase across virtually all industries, there are certain industries that are expecting substantial growth. These industries include: finance and insurance, health services, nonprofit, government, manufacturing, and information services. And there’s more good news for the Class of 2015: signing bonuses are also expected to increase.
Are you graduating soon?